• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 16 hours e-cars not selling
  • 3 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 14 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days If hydrogen is the answer, you're asking the wrong question
  • 5 days How Far Have We Really Gotten With Alternative Energy
Editorial Dept

Editorial Dept

More Info

Premium Content

Libya's Oil Conflict Is Escalating Again

A line-up of external actors is preparing to escalate the military conflict in Libya, but none of them want to. It’s about securing positions and hoping for a real cease-fire deal that would lead to an end to the conflict. Egypt is ready to deploy troops to Libya to fight in support of General Haftar against the Turkish-backed GNA. Russian mercenaries--Moscow’s proxy in this war--are securing oil facilities for Haftar, along with a mix of other militias, including Sudan’s blood-curdling Janjaweed, who are always for hire. The Libyan National Oil Company is in a panic as it watches every single oil facility become militarized at the 11th hour of this conflict, risking irreparable damage if anything goes wrong. 

Now, the US is threatening sanctions on both Russia and Turkey for escalating the conflict in another move to simply buy time. U.S. lawmakers accuse Moscow of making a move on Libya’s oil, but this argument is a pedantic one. All external forces are trying to back what they believe will be the winning side to secure construction and oil contracts when the dust settles, while Turkey is trying to secure its Mediterranean future by backing the GNA. 

The point is to consolidate military positions for negotiating leverage, but throwing all these bands of militias together is a dangerously explosive setup. The thing to watch once you get past the headlining military news is the Central Bank audit, which officially started off Tuesday.…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News