U.S. oil companies line up for new Libya licenses

[lovuian]

http://feeds.bignewsnetwork.com/?sid=be1db12b72f36af9

U.S. oil companies line up for new Libya licenses
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Big News Network.com Monday 3rd January, 2005

U.S. oil executives have been flocking to Libya, a country that holds the largest oil reserves in Africa.

It's estimated Libya has 36 billion barrels in reserves and only a quarter of the country has properly been explored for oil.

However, Libya is a highly authoritarian state, with a difficult bureaucracy and rampant corruption in a regime based on the fusion of socialism and Islam, which was Moammar Gadhafi's answer to both capitalism and communism, the New York Times reported Sunday.

While the Libyan government will unveil the winners of new oil licenses this year, the country remains on Washington's list of state sponsors of terrorism. That limits the exports of some technologies that U.S. oil companies would need.

more...

Isn't it SPECIAL that Libya got off the Terrorist list just in time for this!!!

[nine23]

1. Funny how they miss those "cult of personality" murals...

...of Gadhafi everywhere one goes in Libya. Nothing has changed in the least, except a dictator faking his "like" for the US...

[lovuian]

2. I love that Gadhafi is a Dictator but we don't hear about democracy

HA HA HA!!! And nobody thinks of removing him like Saddam!!!

[nine23]

3. Even more funny...

Gadhafi PLANS, FINANCES, CARRIES OUT, THEN ADMITS GUILT AND COMPLICITY IN, the terrorist bombing of a 747 airliner over Scotland, killing hundreds of Americans, then is regarded as a "good friend" of GWB.

If I was busted FOR A JOINT in Canada and received a criminal record (it would never happen, but for argument sake) I WOULD NEVER BE ALLOWED IN THE US AGAIN. EVER. (not that it would be a major issue in my life...)

Actually, I'll change my subject line: "It's really not funny at all".

[teryang]

4. Isn't it odd?

...that a story published in the Wash Post that reported that Saudi Arabia announced an increase of possibly 200 billion barrels in its reserves now comes out after the peak oil pronouncements everywhere that no new major fields or sources of oil will be found anywhere?

The price of gold and oil drop like a rock as a result. Is this for real? Even the peak oil fanatics on Ruppert's site are backing off some. Commodity expert Rogers on CNN who says that K&Kramer are "wrong about everything" and effectively predicts another 9 years bull market in commodities this evening and that correction is only temporary. He also stated that no expert could tell him of where any major new sources of oil have been discovered in years.

He says the correction will come from some consolidation in Chinese development.