As the article here at Israel National News states, Muammar Gadaffi was called the "mad god" by Ronald Reagan and apparently he is deadset on earning that title with his latest declaration that he will direct the destruction of Libya's oil pipelines and facilities. Bottom line for you and me is that gasoline you're gonna be pumping into your SUV is going to soar in price.
From the article:
Libyan president Muammar Gaddafi, once termed a “mad god” by former U.S. President Ronald Reagan, is threatening to blow up oil facilities, a source told TIME magazine journalist Robert Baer.
Gaddafi’s reported plan to sabotage oil facilities in the oil-producing country “is meant to serve as a message to Libya's rebellious tribes: It's either me or chaos,” Baer wrote.
His source told him that Gaddafi’s main support is from a small but elite part of his 45,000-man army. "I have the money and arms to fight for a long time," Gaddafi reportedly said.
Oil prices have skyrocketed this week, passing the $95 per barrel mark on world markets. Financial analysts are predicting prices of $140-$200 a barrel if world events do not stabilize. Soaring oil prices could be a knockout punch to the struggling economic recovery in the United States and elsewhere and could spawn a new recession.
So, let me make sure I have this right. Democrats in America refuse to allow the United States to drill our oil reserves under our mainland and off of our coasts but will allow the price of our imported oil to be influenced by a madman in a shithole country like Libya. Do I have that right?
I'm convinced that what we will eventually see across northern Africa is simply a takeover by the forces of al Qaeda ...similar to what has happened in Somalia. Al Qaeda in the Islamic Maghreb which operates out of Algeria already stands to make serious headway in that country as things deteriorate and their spread to Libya shouldn't be far behind a departure by Gadaffi. Add to those two countries about 2 more that could become targets of al Qaeda and you're looking at nearly the entire northern tier of Africa under direct influence of the islamic terror group.
You have to admit it's reassuring that America, during these revolutionary and cataclysmic times, has such a seasoned and talented foreign policy leader like Barack Hussein Obama. (Sarcasm mode off).
TIME Source: Gaddafi to Blow Up Oil Pipelines; Gas Prices Soar
Libyan president Muammar Gaddafi, once termed a “mad god” by former U.S. President Ronald Reagan, is threatening to blow up oil facilities, a source told TIME magazine journalist Robert Baer.
However, the same source two weeks ago told Baer, a former Middle East CIA officer, that the Middle East revolutionary movement would never spread to Libya, where Gaddafi is hanging on to power and ordering massacres of protesters while being condemned by the United Nations.
Gaddafi’s reported plan to sabotage oil facilities in the oil-producing country “is meant to serve as a message to Libya's rebellious tribes: It's either me or chaos,” Baer wrote.
His source told him that Gaddafi’s main support is from a small but elite part of his 45,000-man army. "I have the money and arms to fight for a long time," Gaddafi reportedly said.
Oil prices have skyrocketed this week, passing the $95 per barrel mark on world markets. Financial analysts are predicting prices of $140-$200 a barrel if world events do not stabilize. Soaring oil prices could be a knockout punch to the struggling economic recovery in the United States and elsewhere and could spawn a new recession.
The monthly adjustment in the price of fuel next Tuesday will cost drivers at least five cents (17 agorot) a liter, and possibly more if the price of oil continues to rise. The expected increase more than cancels out the recent cut in the price of gasoline after public protests forced the government to cancel a hike in excise taxes.
One offsetting factor to the hike in world oil prices is the apparent readiness of Saudi Arabia to increase production to make up for reduced oil supplies in Libya, Africa’s largest oil producer with a daily production of 1.6 barrels.
1 comment:
The US doesn't receive a lot of Libyan oil, but Europe does. This is poetic justice on them for caving into his demands to get his oil. I will be laughing my head off when the Europeans start crying about having no oil.
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