Oil and geopolitics: a turbulent year, and no end in sight
Kazakhstan unrest — violence in the western city of Zhanaozen in which some 14 protesting oil workers were killed — caps an extraordinarily turbulent year in the world’s oil regions.
The distribution of power has been shaken up in the Magreb countries of Egypt, Libya and Tunisia, and violence continues to threaten the rulers of Syria and Yemen.
Saudi Arabia is spending some $130 billion to stave off its own public dissatisfaction.
In Russia, Prime Minister Vladimir Putin’s seemingly unassailable hold on power has been challenged by a botched decision to return to the Kremlin, and a rigged parliamentary election.
All in all, the uprisings have helped to push annual average oil prices to their highest level in history, exceeding $100 a barrel.
Look for the global turbulence to continue well into next year… good analysis at the URL:
This week’s eyewitness video of police killing and beating of protesting Kazakhstan oil workers