According to the author, political Islam is an invaluable ally for imperialism while eliminates the real social confrontations between the popular classes and the globalized capitalist system that oppresses and exploits them, it is not the spontaneous result of the assertion of authentic religious convictions by the peoples concerned. It is fundamentally reactionary and therefore obviously cannot participate in the progress of peoples' liberation.
The original article was published in Monthly Review November 2007. A copy can be read here.