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Monday, 28 March 2011

libyan war-mongering and why...

A cable sent from the US embassy in Tripoli in November 2007 communicated US concerns about the direction being taken by Libya's leadership:

'Libya needs to exploit its hydrocarbon resources to provide for its rapidly-growing, relatively young population. To do so, it requires extensive foreign investment and participation by credible IOCs [international oil companies]. Reformist elements in the Libyan government and the small but growing private sector recognize this reality. But those who dominate Libya's political and economic leadership are pursuing increasingly nationalistic policies in the energy sector that could jeopardize efficient exploitation of Libya's extensive oil and gas reserves. Effective U.S. engagement on this issue should take the form of demonstrating the clear downsides to the GOL [government of Libya] of pursuing this approach, particularly with respect to attracting participation by credible international oil companies in the oil/gas sector and foreign direct investment.’

thanks to medialens for this likkle eye opener...

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