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Look who’s in line to replace Gadhafi
 Anjem Choudary |
British cleric Anjem Choudary says al-Qaida and the Muslim Brotherhood have assets on the ground in Libya and are ready to take control if Moammar Gadhafi is removed from power.
The top Muslim cleric accuses the U. S. and French-led coalition trying to topple Gadhafi of working to install a puppet regime, but he says there are al-Qaida operatives in Libya who will stop the West from installing a friendly government.
“Al-Qaida has their own agents and their own people in the region who are propagating their own Islamic ideas and their agenda. At the right time they will make the move, and we will see the emergence of Islam and Shariah in that particular region,” Choudary said.
“The power vacuum is very useful for anyone who has an agenda and an alternative Read more…
‘The West is to be forgotten. We will not give them our oil’ – Gaddafi
This is just the first step in a long line for the US on not receiving any oil that is pumped from any country in the Middle East resulting in third world status. Lindsey Williams mentioned it on the Alex Jones Show almost a month ago.
http://rt.com/news/libya-oil-gaddafi-arab/
Libyan leader Muammar Gaddafi dismissed his Western partners in an exclusive interview to RT, saying he will give all the country’s oil contracts to Russia, China and India.
“We do not believe the West any longer, that is why we invite Russian, Chinese and Indian companies to invest in Libya’s oil and construction spheres” Gaddafi told RT in an exclusive interview about how he sees the current situation in Libya and the international reaction to events there.
“He condemned the Western powers, saying Germany was the only country with a chance of doing business with Libyan oil in the future. “We do not trust their firms – they took part in the conspiracy against us.”
The Libyan leader also added that as far as he is concerned, the Arab League has ceased to exist since it stood up against his country.
According to Gaddafi, the recent upheavals in his country were a “minor event” planned by Al Qaeda that will soon end.
Meanwile, Libyan Deputy Foreign Minister Khaled Kaim promised that Libya will honor Read more…
Between Sudan and Libya, Critics See U.S. Inconsistency
Why the rush to use force against Qaddafi when Sudan has suffered more?
Actor George Clooney helped conceive a project along with John Prendergast of the Enough Project that helps track violence in Sudan.
He went on to acknowledge that in a world full of Read more…
Russia emerges as unlikely energy safe haven
AFP – Turning the page on former disappointments, the world’s energy giants are flocking to Russia, whose vast resource riches look even more tempting at a time of turbulence in the Middle East.
In just a matter of weeks, the country has put the finishing touches on a clutch of joint exploration and share-swap agreements whose negotiation seemed impossible just a few years ago.
But with natural gas production stagnant and new oil wealth resting in hard-to-reach reserves, Russia is swinging the door open to Western companies, their presence now seen as essential to the country’s economic growth.
“Russia is today the go-to place for Read more…
US could tap oil stockpiles as prices rise: Obama
WASHINGTON (AFP) – President Barack Obama on Friday said he had “tee-ed up” moves to tap emergency US oil stockpiles, as Middle East violence pushed up gas prices for hard-hit US consumers.
Trying to tamp down concern that oil prices will continue to rise on Middle East unrest, Obama said he was willing to make a rare move to open the strategic reserve, but not yet.
“We are going to try to do everything we can” to stabilize the market, Obama said.
“Everybody should know that should the situation demand it, we are prepared to tap the significant stockpile of oil that we have in the strategic petroleum reserve.”
With Americans struggling with Read more…
Details About India and China’s Plans to Stockpile Crude Oil
Energy expert Matt Badiali writes in DailyWealth that plans out of China and India to create strategic oil reserves of their own could put a floor under the price of oil for years to come:
China and India are faced with the same dilemma the U.S. faced in 1973. Neither country has enough petroleum to keep its citizens rolling for long. Both are exposed to a dangerous, economy-killing oil shock. And both are starting to build and fill strategic petroleum reserves of their own. They have no choice but to buy oil like crazy at these levels.
China has about 102 million barrels already in reserve. It plans to add another 168 million barrels of storage starting this year. It will finish its planned 500 million barrel reserve – equal to three months of imports – by 2020. To hit that mark, China will need about Read more…
Oil Should Spike Higher Following Saudi Riots and Nigerian Elections in April
The following special report on oil (LA Blog Only, leverageacademy.com/blog) discusses the oil market, providing reasons to be bullish on the commodity given unrest in the Middle East, Nigerian elections in April, and rising domestic consumption in oil producing countries, including Venezuela, Nigeria, and Iran. According to the article, the rise of oil prices could easily cause the next recession. In 2010, soft commodities outperformed energy, but that will certainly change given the political headwinds abroad and continued monetary easing in the developed world. Therefore, the Bernanke “Put,” combined with political unrest will be to blame for continued sharp price increases in the energy commodity sector.
Emerging market demand, especially in China, which now consumes nearly 10mm barrels of oil per day, will also be driving the demand side of the equation. Money supply in China was also up 19.7% in 2010, because of the rapid Read more…
Oil will go up ‘ballistically’ if unrest shifts to Saudi Arabia, says Marc Faber
INTERNATIONAL. Marc Faber the Swiss fund manager and Gloom Boom & Doom editor sees oil prices extending their bull run despite the 15% run-up this year alone.
In an optimistic scenario demand for oil will rise as the global recovery takes hold, and in a pessimistic scenario prices still go up if the Middle East unrest spreads and crude production is curtailed. In both cases, he says, you should be long energy and energy related shares.
Speaking to CNBC today, Faber said: ” I think long term you should be exposed to energy in either scenario….if you are extra bearish and believe that War World III is going to start soon, as I believe, or in an optimistic scenario”.
Addressing the fundamentals of the oil market, Faber said: “What we had over the last couple of years is essentially a reduction in demand from the developed world, the US, Western Europe and Japan, and continued growth in emerging economies.
“So, if you take a very optimistic view of the world, namely a global economic recovery, demand in the Western World will pick up and demand in the Emerging World will continue to rise strongly, so from a very optimistic point of view you should be long oil,” he recommended.
On the flip side, “in a very pessimistic scenario you have to assume that unrest will shift to Saudi Arabia and other countries in the gulf and at that stage the production is curtailed and in that case obviously oil will go up ballistically.”
Brent crude futures could hit US$200 a barrel if political unrest spreads into Saudi Arabia, Societe Generale said on Monday.
Under what the bank called Geopolitical Scenario 3, “unrest spreads to Read more…
Gaddafi Strikes At Oil Refinery, Escalating the War
Libyan government warplanes have struck an oil facility near the rebel-held eastern town of Ras Lanuf during a heavy bombardment aimed at driving out opposition forces trying to topple Libya’s leader Moammar Gadhafi.
The warplanes bombed the As Sidr oil facility Wednesday, causing a fire and sending huge plumes of smoke into the sky. There were no immediate reports of casualties.
Forces loyal to Gadhafi also shelled rebel positions west of Ras Lanuf, forcing the rebels to retreat. The oil port represents the front line of the rebels’ advance out of their stronghold of eastern Libya.
Libyan government forces also were tightening their siege of the western town of Zawiya, the closest rebel-held area to Gadhafi’s power base in the Libyan capital, Tripoli. Residents said Gadhafi loyalists were surrounding rebels holding out in Zawiya’s central square, using snipers and tanks in the assault.
In remarks broadcast on state television Wednesday, Gadhafi called on Read more…
China Approves Kuwaiti Refinery
BEIJING—China has given final approval to Kuwait to build an oil refinery in the south of the country in a joint venture with China Petroleum & Chemical Corp., a person with firsthand knowledge of the decision said Tuesday.
China, dependent on oil imports, has been making deals with major producers to process more crude domestically.
The $9 billion project between Kuwait Petroleum Corp. and Asia’s largest refiner by capacity, also known as Sinopec, has been under negotiation for more than five years. It includes a refinery with a capacity of 300,000 barrels a day in the city of Zhanjiang in Guangdong province and an ethylene plant with a capacity of a million tons a year, along with related utilities, jetties and oil pipelines, according to previous comments from government and company officials involved in the Read more…
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