» First Yukos, Then Georgia

By Norman at 1:44 PM

Now the world is getting an idea of what a "war for oil" really looks like. Few in the West appreciate the degree to which Vladimir Putin and the Soviet, er, Russian, elite subscribe to a prewar view of power relations and national greatness. Their view is not based on self-reproducing institutions and innovation and the power of trade, but on territory and resources -- lebensraum, as one of their intellectual progenitors called it. ....

Western governments and Western oil executives have played an unwise role in Mr. Putin's plan. No amount of contract abrogation, outright seizure of property or subsidiary mayhem by Russian authorities seems able to dissuade them from throwing good money after bad in pursuit of Russian resources. Weiter hier: