Will Egypt Seize Libya for its Oil?

Writing in Canada's Financial Post, Lawrence Solomon poses the question, "Will Egypt seize Libya for its oil?"

He argues that since the Arab Spring began almost two years ago, the Egyptian economy has been collapsing, Egypt’s foreign currency reserves have more than halved, and discontent is widespread.

Egypt’s options are becoming more limited, and the temptation to look next door to Libya could be irresistible, particularly since "Egypt views union with Libya as inevitable".

Seeing clan loyalty as more important than national loyalty, he says national borders could be abandoned in favour of a caliphate across the Arab world and beyond.

With suspected Egyptian links to the September 11 attack on the American consulate in Benghazi, Solomon speculates that if a new Islamic Caliphate emerges, Libya’s oil would be at its disposal, but Egypt's President Mohamed Morsi (pictured) and others may be wondering, why wait?

(Source: Financial Post)

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