Red Herring: Libya Oil Exports Offline Indefinitely?
By Dian L. Chu, EconMatters
There were some interesting developments coming out of Libya that It seems behind the scenes a transitional government is already being put in place, and contracts are being signed for the resumption and export of Oil to Libya`s trading partners.
Rebels Making Oil Deal
The finance minister for the Libyan opposition, a University of Washington lecturer Ali Tarhouni who returned to Libya nearly a month ago to help the opposition, told reporters that Libyan rebels have signed a deal with Qatar to market their crude oil abroad in exchange for food, medicine and fuel. In late March, Tarhoni also said the rebels, who were at the time in control of all the country's eastern oil facilities, expected to begin exporting crude "in less than a week".
Libyan Oil Offline For Years?
This suggests that much of the fear that Libya oil export (see map) could be offline 'for years' or even ‘indefinitely’ seems to be somewhat hyperbole, and a bit of a red herring. It appears that the Qaddafi regime is crumbling according to information gleaned from the recent defection of Libyan Foreign Minister Moussa Koussa, and it could be only a matter of time before the unrest in Libya is resolved with the stepping down of Qaddafi.
Check out the wealth in Libya!
Oil in Libya
Oil Reserves in Libya
By Dian L. Chu, EconMatters
There were some interesting developments coming out of Libya that It seems behind the scenes a transitional government is already being put in place, and contracts are being signed for the resumption and export of Oil to Libya`s trading partners.
Rebels Making Oil Deal
The finance minister for the Libyan opposition, a University of Washington lecturer Ali Tarhouni who returned to Libya nearly a month ago to help the opposition, told reporters that Libyan rebels have signed a deal with Qatar to market their crude oil abroad in exchange for food, medicine and fuel. In late March, Tarhoni also said the rebels, who were at the time in control of all the country's eastern oil facilities, expected to begin exporting crude "in less than a week".
Libyan Oil Offline For Years?
This suggests that much of the fear that Libya oil export (see map) could be offline 'for years' or even ‘indefinitely’ seems to be somewhat hyperbole, and a bit of a red herring. It appears that the Qaddafi regime is crumbling according to information gleaned from the recent defection of Libyan Foreign Minister Moussa Koussa, and it could be only a matter of time before the unrest in Libya is resolved with the stepping down of Qaddafi.
Check out the wealth in Libya!
Oil in Libya
Oil Reserves in Libya