Myanmar, the Latest Petro Bully
Article from: OGEL 4 (2007), in Geopolitics of Energy
Last Friday [October 19th 2007], President Bush announced new sanctions against Myanmar's military government. But world oil prices -- which hit record levels last week -- may undercut their effect. Myanmar has recently gained admission to an elite club of states whose governments use their oil and natural gas to buy their way out of trouble. Call them the petro bullies. Myanmar is Asia's fastest-growing petroleum exporter; China is the world's fastest-growing importer. In May, Myanmar awarded China long-term access to its two largest offshore natural gas fields - turning ...