• 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
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days Does Toyota Know Something That We Don’t?
  • 4 hours America should go after China but it should be done in a wise way.
  • 6 days World could get rid of Putin and Russia but nobody is bold enough
  • 8 days China is using Chinese Names of Cities on their Border with Russia.
  • 9 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 9 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 9 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 8 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 days Putin and Xi Bet on the Global South
  • 9 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 10 days United States LNG Exports Reach Third Place
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs

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

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