global institutions such as the International
Monetary Fund and the World
Bank came to be seen as instruments of post-colonial control. These
institutions pushed market fundamentalism (“neoliberalism,” it was often
called), a notion idealized by Americans as “free and unfettered
markets.”… Free-market ideology turned out to be an excuse for new
forms of exploitation.
Above all, the Muslim world’s oil and energy resources have been a key
driver for incessant Western intervention over ownership of the oil,
control of the
oil companies, pricing policies and shares of prices, political manipulation of
leaders in order to obtain the best deals on oil, and political and armed
intervention. The first democratically elected
Prime Minister of Iran was
overthrown by the United States and the United Kingdom in 1958 in order to
prevent Iranian nationalization of oil. Oil politics remain a very dangerous high-
risk game, played out among the great powers on Muslim world soil, and
beyond.