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Oil part of Syria's problem, expert says
UPI ^ | April 26, 2013 at 7:57 AM | UPI

Posted on 04/27/2013 10:17:46 AM PDT by haffast

NORMAN, Okla., April 26 (UPI) -- The lack of a vibrant oil sector in Syria is part of the reason there are so many refugees in the region, Syrian expert Joshua Landis said.

"Oil is the only thing that Syria has going for it," Landis, a Syrian expert and professor at the University of Oklahoma, told Bloomberg News. "Farming has collapsed and that is why we are seeing this outflow of refugees. They are starving. They don't have the basics to sustain them."

European Commissioner for Humanitarian Aid and Crisis Response Kristalina Georgieva said there are 1.3 million refugees due to the Syrian war.

The European Union this week eased sanctions so oil could be exported from Syrian territory controlled by anti-government forces. The U.S. Energy Department's Energy Information Administration says almost all of Syrian crude oil exports went to European markets before war began in 2011.

Landis said there's virtually no hope for Syrian economic recovery regardless of who controls the oil.

"Syria is not going to be able to right itself until it can establish a reasonable economic regime and oil is at the heart of that," he said.

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(Excerpt) Read more at upi.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: cyprus; gas; iran; iraq; israel; peaceandsecurity; pipeline; turkey
Syria holds proven oil reserves of around 2.5 billion barrels, more than any of its neighbors apart from Iraq.

EU lifts Syria oil embargo to bolster rebels
Associated Press ^ | 4-22-2013 | Juergen Baetz
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Syria's energy: Mediterranean gas may be the prize
UPI ^ | April 24, 2013 at 11:04 AM | UPI
http://www.freerepublic.com/focus/f-news/3012058/posts


1 posted on 04/27/2013 10:17:46 AM PDT by haffast
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