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2 million barrels per day of high quality light sweet oil in the Mediterranean (ie, nobody can grab it if we want it) is rather important for Europe... We can find other sources, but we have to fight for these with Asia and America, whereas Libya can only realistically go to Europe (just like Russian oil)

Wind power
by Jerome a Paris (etg@eurotrib.com) on Sat Mar 19th, 2011 at 02:52:32 PM EST
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For Pentagon :)

But actually, since whoever is in charge will sell to Europe, the ruler(s) does not matter much, do they?

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Sat Mar 19th, 2011 at 04:49:10 PM EST
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It does matter. Political upheaval always depresses oil output, permanently. Oilquake in the Middle East:

Here, however, is the news that should be on the front pages of newspapers everywhere: That old oil order is dying, and with its demise we will see the end of cheap and readily accessible petroleum -- forever.

... One conclusion isn't hard to draw: Efforts by outsiders to control the political order in the Middle East for the sake of higher oil output will inevitably generate countervailing pressures that result in diminished production. The United States and other powers watching the uprisings, rebellions, and protests blazing through the Middle East should be wary indeed: whatever their political or religious desires, local populations always turn out to harbor a fierce, passionate hostility to foreign domination and, in a crunch, will choose independence and the possibility of freedom over increased oil output.



Schengen is toast!
by epochepoque on Mon Mar 21st, 2011 at 11:30:17 AM EST
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