Sunday, March 13, 2011

Gaddafi's Libya to Shut Out the West, Open up Oil to BRIC

The events in Libya, I believe, are setting the stage for a 'Great Powers' dispute. It will be ugly and nothing can be ruled out.

Cheap energy is the absolute life blood of the sclerotic and mostly discredited ruling classes worldwide.

From Libya State TV:

Libyan leader Muammar Gaddafi urged Russia, China and India on Sunday to invest in Libya's oil sector, state television said.

It said Gaddafi had made the appeal during talks with the ambassadors of the three countries.

"In the discussions with the ambassadors ... a call was made for the companies of those countries to invest in the Libyan oil industry," it said.(1)

There will be a response from the Western powers.

1'Gaddafi urges Russia, China, India: invest in Libya oil' - Reuters

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