The biggest potential losers in the still-roiling revolutions of the Middle East and North Africa are the people themselves. Many are democrats at high risk of being overwhelmed over time by new dictators and organized religious extremists. But the uncontested winners are already quite clear: those who own, sell, and bet on oil.
Obama administration officials say they are not taking sides between President Hosni Mubarak, America’s key ally in the Arab world, and the street protesters who purportedly represent a path to democracy in authoritarian Egypt. These officials might even believe what they’re saying. But the very assertion of “not taking sides” is itself a tilt away from the all-out support traditionally given by Washington to this Egyptian strongman in recent decades.