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Tuesday, 8 February 2011
Cyprus and oil
thanks to The Scoop for posting this a few days ago, have only just picked it up. Yes, oil and gas in the eastern Mediterranean, and Cyprus and Israel have reached an agreement on exploitation. They will need other partners to make it happen of course, and a Texan oil company seems to be involved, time will tell. Turkey has been trying to put a stop to it, natch. Won't work. This could transform the economy of the region. Cyprus itself is not a poor country, in the EU and the eurozone; plenty of Russian money comes in as Russians buy villas. But a resource on this scale could make Cyprus a key player in the eastern Mediterranean, where it is geographically in any case. I have to declare an interest as I love Cyprus with a great passion, and have spent a number of holidays there, including the last two New Years. If I ever retire that is where I shall go. Cyprus has everything it needs except water. But if you have oil you can get everything else. Oh and peeps - stop developing golf resorts on Cyprus. Golf courses need green grass, and green grass needs rain. There is a reason why Cypriots don't have lawns. In six years of going to Cyprus, always in winter or spring, it has rained for precisely one day.