Home Economics & PolicyA slippery second step

A slippery second step

by Joe Dyke

And as if from nowhere, there was a breakthrough. Ten months after the Council of Ministers, Lebanon’s cabinet, demanded the establishment of a Petroleum Administration (PA), and nine months after the Energy Minister promised to do so, on Wednesday the six-member body was finally established. Many of those watching from the sidelines were beginning to abandon hope that a deal would ever be struck. As the year has gone on, Lebanon’s inability to form the crucial committee — which will negotiate with international oil companies and eventually issue licenses for drilling — has allowed its neighbors Israel and Cyprus to pull further ahead in the rush to explore offshore oil and gas. Now, finally, the country can take the next steps in its bid to tap the huge potential wealth off its coast. Pulling the wool over everyone’s eyes Yet while having a committee is undoubtedly better than not, there

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