I have been waiting for Jerome to jump all over this, but I will try to take an elementary stab at it until he jumps on board
Today's news that the United States is normalizing relations with Libya and the Gadhafi government shocked many of those who thought that the President and this administration were sincere in their efforts to export democracy and freedom throughout the world. For the cynics amongst us, it should not come as a surprise. Actually it is just business as usual.
Libya has had an awakening since 9/11 and has renounced terrorism to the world. Gadhafi, who goes by the titles of "Guide of the First of September Great Revolution of the Socialist People's Libyan Arab Jamahiriya" or "Brotherly Leader and Guide of the Revolution", was one of the first Arab leaders to denounce the 9-11 attacks. He has also declared war on Al Qaeda and militant Islam. However, Gadhafi has often said one thing and done another. This time however, he maybe taking advantage of the energy wars to ingratiate himself with the west.
More on the flip
For those with tin foil hats and an unhealthy obsession with
Dick Cheney, it is already common knowledge that while he headed Halliburton, he engaged in business with the Libyan regime.
Halliburton came under fire in the early '90s for supplying Libya and Iraq with oil drilling equipment which could be used to detonate nuclear weapons. Halliburton Logging Services, a former subsidiary, was charged with shipping six pulse neutron generators through Italy to Libya. In 1995, the company pled guilty to criminal charges that it violated the U.S. ban on exports to Libya. Halliburton was fined $1.2 million and will pay $2.61 million in civil penalties.
[snip]
During his chairmanship of Halliburton, Cheney criticized U.S. sanctions against "rogue" nations such as Iran and Libya in a 1998 speech. According to a July 26, 2000, Washington Post story, Cheney complained the sanctions "are nearly always motivated by domestic political pressure, the need for Congress to appeal to some domestic constituency."
Oh, you mean like the victims of the Lockerbie bombing? How inconvenient for you! Why would Dick Cheney be able to stomach someone who has funded terrorists, bombed planes, assinated dissidents, repressed his people, and acted like a loon for the past 30 years?
Information for Africa
http://www.mbendi.co.za/...
Libya is Africa's major oil producer and one of Europe's biggest North African oil suppliers. Supplies from North Africa to Europe destinations have the advantage of being both timely and cost effective. Libya's economy is based on oil and exports contribute between 75% and 90% of State revenues. Libya has proven reserves of 29.5 billion barrels of oil and a production capacity of 1.4 million barrels per day. Italy, Germany, Spain and France account for 74% of Libya's exports.
Foreign involvement in Libya was severely reduced as a result of the sanctions and embargoes emplaced upon it, especially between the years of 1992 and 1999. Access to oil industry equipment and technology was restricted and Libya is reliant on foreign investment to keep the industry active.
Libya has very low production costs and the oilfields are close to the refineries and markets of Europe. In addition, despite almost half a century of exploration, Libya remains largely unexplored with vast oil and gas potential.
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Oh...low production costs, sea access, and the potential for exploration. Well, surprise, surprise. When Iraq oil doesn't work out, just get in bed with the next dictator that will have you. Great work Dick. Those blind trusts will get a bump I am sure.
In the meantime, we can sell them new advanced military tecnology so that they can reinforce their police state. We can also prevent the diversification of their economy by shoring up the strength of their state owned oil companies. That is good for democracy, right? Thomas Friedman, where are you? Isn't this the Oiligarchy that you were talking about?
So instead of becoming the next Saddam Hussein, Gadhafi has turned himself into the next Saudi Royal Family--a man who helps the US to his own nation's detriment. Congratulations ladies and gentlemen, the Arab world loves you more and more each day.