Wednesday, May 03, 2006

This is scary!



Filling tanks, funding dictators - Los Angeles Times: "Of the top 14 oil exporters, only one is a well-established liberal democracy, Norway. Two others have recently made a transition to democracy, Mexico and Nigeria. Iraq is trying to follow in their footsteps. That's it. Every other major oil exporter is a dictatorship and the run-up in oil prices has been a tremendous boon to them.

My associate at the Council on Foreign Relations, Ian Cornwall, calculates that if oil averages $71 a barrel this year, 10 autocracies stand to make about $500 billion more than in 2003, when oil was at $27. This windfall helps to squelch liberal forces and entrench noxious dictators in such oil producers as Russia (which stands to make $115 billion more this year than in 2003) and Venezuela ($36 billion). Vladimir Putin and Hugo Chavez can buy off their publics with generous subsidies and ignore Western pressure while sabotaging democratic developments from Central America to Central Asia. "

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