• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 19 mins Which producers will shut in first?
  • 22 mins The Most Annoying Person You Have Encountered During Lockdown
  • 17 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 13 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 8 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 9 hours How to Create a Pandemic
  • 8 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 3 hours Death Match: Climate Change vs. Coronavirus
  • 14 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 9 hours Where's the storage?
  • 12 hours KSA taking Missiles from ?

Breaking News:

Russia Decides Not To Boost Oil Output

Saudi Journalist Says That Oil Shortages Will Topple Gaddafi

Saudi Journalist Says That Oil Shortages Will Topple Gaddafi

The ongoing struggle between Libya’s beleaguered regime and its opponents may eventually be decided by the issue of the country’s petroleum reserves.

Nearly all of Gaddafi's key allies have abandoned him, most notably those in the African Union, where he has poured billions of dollars in assistance over the years. A second element in the weakening of his regime is that while his forces remain well-equipped, the insurgents are assaulting Gaddafi's oil supplies, producing shortage in the capital Tripoli, where people are being forced to ride bicycles because of a lack of gasoline to fuel their automobiles.

Despite the energy hardships, the Libyan capital appears calm, although rebels have closed to within 50 miles of Libya’s capital, London’s Al-Sharq al-Awsat reported.

Gaddafi remains defiant, threatening at a press conference to carry out retaliatory attacks in Europe if NATO does not cease its campaign against his regime, telling supporters gathering in the main Green Square of the capital Tripoli, “We can treat you in a similar way,” a threat that the U.S. government has said that it takes seriously.

While Gaddafi remains bereft of any direct military support, diplomatically his African Union compatriots have called on its member states to disregard the arrest warrant issued by the International Criminal Court against him, a move that could weaken the court’s ability to hold him accountable for any crimes committed against his people.

By. Joao Peixe, Deputy Editor OilPrice.com

 



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News