http://peakoil.com/modules.php?name=News&file=article&sid=27663Eastern Mediterranean Oil Politics
Oil drilling rights in the eastern Mediterranean Sea has emerged as an issue over the past few months following an initiative enacted by the Cypriot government to hand out research and drilling rights for oil reservoirs that might be found deep under the sea, and worth some $500 billion.
Cyprus proceeded to cooperate with interested parties of geographical proximity—Egypt and Lebanon—whose exclusive economic zones might also be rich in oil. Further, it seems likely that Israel and Cyprus will form a consensus on how to share the wealth to be found.
Naturally, the developments that unfolded between January and March attracted the attention of Turkey, which hastily made threatening demands against Cyprus. On Jan. 27, the president of the pseudo-state of Northern Cyprus, Mehmet Ali-Talat, stated that there was a chance that unexpected and violent developments could occur due to Cyprus' actions in relation to the oil issue.
On Jan. 30, the Turkish daily Hurriet reported Ankara's demand that the Lebanese and Egyptian governments withdraw their intention to search for oil in an area that Turkey had interests in as well. Moreover, the newspaper noted the willingness of the Turkish administration to react dynamically should its interests not be taken into account.
Further statements issued by Ankara and Nicosia resulted in the circumnavigation of Cyprus by the Turkish Navy in a "Tour de force" in early February. By that time, the overall situation had resulted in a multitude press releases and op-eds in Turkey, Cyprus, and Greece commenting on the possibility of a conflict over oil.
On March 6, American ambassador to Cyprus Ronald Schlicher addressed the public in Cyprus via the CNN Turk TV station and expressed the opinion that it is Cyprus' solemn right to decide if it wishes to exploit oil that is found in its territorial or exclusive economic zone. This was a clear indication that the United States is very interested in securing influence in Cyprus in order to gain contracts for the extraction of oil.
Worldpress
Well its all recorded .... lets see how this book will evolve shall we.
