While the Center for Security Policy has long believed that closing this gaping loophole is essential if the economic sanctions imposed last year are to have any appreciable impact, the advance notice thus given virtually assures that a whole host of new long-term contracts for Libyan oil are being drawn up now.

CENTERFORSECURITYPOLICY: Center for Security Policy | A Good Week For The ��Radical Entente��: Outlaw Nations Likely Emboldened By Ineffectual Western Responses

Meanwhile, the new government says it will sign long-term contracts with Norway's power-intensive light-metals and timber industries to help keep them in world business.

ECONOMIST: Norway

Distribution firms will be able to buy only 5% of their power on the spot market, down from the 15% originally proposed, to make them seek long-term contracts with new gas-fired generators, whose fuel purchases will be subsidised.

ECONOMIST: Brazil's energy crisis

While corporations are generally quick to try out new job sites, they're not long on loyalty and are leery of long-term contracts.

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