Posted on 03/24/2011 12:09:26 AM PDT by fight_truth_decay
BENGHAZI, Libya — World fuel prices are surging, in part because of the bloody battle to topple Moammar Gadhafi, but there's one place where the price of a gallon of gasoline actually has dropped: war-torn Libya.
Rebels in eastern Libya filling up their tanks as they head to battle down the country's coastal highway are paying 25 percent less than they did before their revolution began last month.
Today, gasoline costs the equivalent of 46 U.S. cents a gallon; last week, the price was just over 62 cents.
(Excerpt) Read more at mcclatchydc.com ...
Even if the oil-exporting country limits business with an enemy, oil traders frequently resell or process oil from many oil producers, thus making traceability problematic.
Perturbations of oil imports will probably induce traders to speculate even more feverishly on future supplies. This will raise the world oil prices that will in turn create economic disruptions and possibly even increase revenues to the very countries targeted by the policy.
Oil-producing nations recognize that if the price of petroleum becomes too high, then a global recession may result.
Oil-exporting nations may also use their wealth to build a military and fund an international venture in the hope that it will divert the attention of domestic critics. These countries can use their oil revenues [even greater wealth can be made just overnight] to pay for conventional military forces, internal security, or subsidies for extremist and terrorist groups that operate outside their borders.
For example: Chavez used subsidized food, free health care, government jobs, inexpensive subsidized gasoline (at approximately 10 cents per gallon), and other oil revenue-funded programs to secure public support. The U.S. oil market, in fact, gives oil producing countries like Venezuela the means to continue his programs. Although heavy crude, Chavez has invested heavily in refineries and established a large distribution system under the CITGO brand.
The Venezuelan government, like all oil producing countries have tied their foreign and domestic interests to the U.S. addiction to oil.
Oil is a powerful weapon with significant economic, industrial, and military impacts.
Countries that control oil or other limited key natural resources have a great advantage over import-dependent nations.
what I want to know is what the IRANIANS are paying at the pump- anyone????
So essentially, we’re sending our blood and treasure to fight and die in the middle east so that islamist rebels can have cheap gas.
Who cares about all that crap!?
Does their gasoline have all the environment saving additives ours has? If not, nuke ‘em!
Hey yo, comparatively, $0.46 is what to the average worker pay in Libya and then to that of someone in the US? I would imagine that the cost of living in Libya is near nothing compared to say the cost of living in Washington D.C., etc.
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