Stop the aggression in Libya "Foreign investment into Libyan oil sector had a good starts after the industry was opened under Muammar Gaddafi. “Libya was the focus of industry excitement about new investment from 2004 to 2007,” Catherine Hunter, north Africa analyst at IHS Energy in London told FT. “The resource is still first class, but the above ground problems are hugely challenging.” The Gaddafi government maintained strict control over oil revenues, which were used to finance Libya’s vast social programs and investment in foreign markets, among other things. The public uprising, which led to a civil war, a NATO bombing campaign against Gaddafi’s troops and the strongman’s eventual death, was to a great extend motivated by the desire to redistribute those spending in favor of the regions." rt/business/lybia-oil-unrest-investment-016/
Posted on: Thu, 19 Sep 2013 13:27:10 +0000
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