The Axis of Diesel

Remember US President George W Bush’s “Axis of Evil“? Well now there’s the “Axis of Diesel” – the petro-states of Russia, Iran and Venezuela which were able to take their windfall profits from the peak oil prices of mid-2008 and use them to extend their military spending and foreign assistance, but which are now facing austerity budgets as oil prices tumble to around $60/barrel.

 

This article in the Economist looks at whether there is any coherent anti-western strategy binding these modern axis states.

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