Libya is in crisis and could see its oil-dependent economy collapsing soon if the country’s local ISIS affiliate is not quashed. Today’s news that militants of the Libyan contingent of the Islamic State have gained control of oil-rich Sirte, a Mediterranean port city, salts the the North African country’s already inflamed wounds. Here is why: 80% of Libya’s recoverable reserves are located in the Sirte Basin, according to the US Department of Energy. The basin is also responsible for most of Libya’s oil output.
What better reason to increase the price @ the pump.
F** off Al Gore
A perfect success for Barack Obama: ISIS in command of large oil resources: Libya plus Iraq, probably with Kuwait to follow.
I am glad that there is a lot of frack oil. Look to see an intensified campaign against fracking as “progressives” and “liberals” realise that conventional oil is more and more under the control of ISIS.
And Obama conned Stephen Harper into supporting his little war of discord and disruption in Libya; one of the few times that I have been ashamed of Canada in international affairs.
John Lewis;
I also did not support Canada bailing the Euros oil supply out once again. We are not always made aware of all details but IMHO Canada had little national interest in Libya. I suggest that the world hand that sad sack country over the Egyptians. They need a oil supply so let them pacify the country.
The Italians and French have no qualms dealing with these people so give it to the Egyptians.
The more of these ME oil producers who get taken out the faster oil prices recover and thusly the better Western Canada will perform.
The intervention in Libya is all Hillary. She did exactly what the left has been raking Bush over the coals for for years. She wanted to remove Gaddafi based on the lie that Libya was facing a humanitarian crisis. She hid information from POTUS and the Pentagon. And there was no plan in place for what was to happen after the regime change. Hillary lied, people died.
http://www.washingtontimes.com/news/2015/jan/29/editorial-hillary-clintons-war-in-libya/
And still we depend upon OPEC for our petrolium our scumball in the whitehouse would rather see another oil crisis then offend OPEC and the eco-freaks they finance
So ISIS now has another oil supply ‘cash cow’ source to fund their ongoing decapitation and immolation exercises.
I’m sure the EU will be happy to buy ‘Caliphate oil’ rather than ‘Tsar Putin oil’ via the Ukraine.
Whatever keeps the tanks rolling…
http://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar
According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts. French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan.
“Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world’s central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power.”
So the dollar was ‘saved’ and the country handed over to Islamo-fascists…
They could have just left the country to the “Afrika Korps” it would have probably been better managed…
Empty Chair indeed; one would be hard pressed to envision a greater cock-up.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
So ISIS now has another oil supply ‘cash cow’ source to fund their ongoing decapitation and immolation exercises.
I’m sure the EU will be happy to buy ‘Caliphate oil’ rather than ‘Tsar Putin oil’ via the Ukraine.
Whatever keeps the tanks rolling…
http://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar
According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts. French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan.
“Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world’s central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power.”
So the dollar was ‘saved’ and the country handed over to Islamo-fascists…
They could have just left the country to the “Afrika Korps” it would have probably been better managed…
Empty Chair indeed; one would be hard pressed to envision a greater c*ck-up.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
Perhaps that is why Europe has declared the “Oil Sands” oil as not as bad as portrayed by Global Warmest/Climate Changers and environMENTALists claim. Now their problem is to convince the same Global Warmest/Climate Changers and environMENTALists that a pipeline is needed to the East Coast. Going to be interesting times in this area of export – and perhaps a new “study” on fracking in the Maritime Provinces.
I also wonder what the Global Warmest/Climate Change and environMENTALists will say about the carbon released by the blown-up oil wells and gas/diesel plants all over the Middle East that they control. They were quite about it the last time it happened in Persian Gulf area … took about a year to put the fires out. They will still say that the Oil Sands are the worst place on earth because of the 0.002% of carbon imprint per year.
Slap Shot [first comment] is right on: “What better reason to increase the price @ the pump” – even though the price of oil is still below eighty dollars per barrel.
Little national interest in Libya? Suncor does and still does today, as inherited via PetroCanada, oil fields and production in Libya. Currently shut down post Ghadafi.
Harper should have grown a pair and told Obie to sign XL FIRST, before sending F-18’s to Libya, as compensation for the potential loss of oil interests there. They went in half baked and we see the results of that today. No Libyan production and XL unsigned.
The US are our “pals” you see.
Ah, CT, I agree with you. However, to take on ISIS in Libya, Egypt needs plenty of military aid. They are presently battling ISIS in the Sinai, perhaps not too successfully. It is also important to note that the US Administration regards Gen. Sissi as an interloper and recognise Mohammed Morsi as the legitimate head of government. Until Sissi is “rectified”, to the taste of the US administration, Egypt gets no aid from the US (at any rate no military aid).
Also, the closure of the Libyan oil fields removes one place where energetic young Egyptians could go to earn good wages, bringing back money which Egypt so desperately needs.