Thursday, June 9, 2011

Libya: Rebels Sell Us 1st Oil Production

NATO bombs Tripoli, Libya/Getty Images


From Denny: Sec. of State Hillary Clinton is pleased to report the rebels are producing oil for the West, selling us their first batch. Can it be America has finally found someone willing to repay us for all the blood and money we have spent on them?

What a nice change of pace is this turn of events. My Democrats may finally be getting practical and downright useful instead of useless.

The Transitional National Council (TNC) - yes, the rebels fighting Gadafi who are based in Benghazi where all the desperate fighting has taken place - made a deal with a U.S. oil refiner by the name of Tesoro back on 25 May. Tesoro gets 1.2 million barrels of crude oil from Libya.  The shipment is scheduled to arrive in Hawaii aboard the Liberian-flagged tanker, the MT Equator.

This was a tricky play on America's part because of wide spectrum sanctions in place against Libya since the reign of Gadafi torture and terror. Back in April our own Office of Foreign Assets Control at the Treasury Department created a new licensing policy with Libya meant to ease barriers on oil related transactions.

Have you heard of the new Libya Contact Group? Many countries and various international organizations are working hard to build support as a coalition for the TNC - and Libya's future - once Gadafi is out of power. So far there have been three meetings.  These folks sound well organized.

Several countries have recognized the TNC as the official and legitimate government of Libya. Among them are France, Italy and Qatar. America is still mulling it over.

However, President Obama "has invited them to open an office in Washington." That sure sounds like a "get to know you as a neighbor" to me.

Soon we will all be fast friends and allies. Feeding America's oil addiction has that effect upon people.





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