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    Read the link below:

    http://bybusiness.net/libya-conflict...html#more-1197

    Libya continues to create turbulence in crude oil prices soared. In recent weeks, oil prices on the world’s two main stock stabilized above U.S. $ 105 per barrel.

    According to news agency Associated Press, oil prices for the transaction of April in New York trading Monday afternoon local time (Tuesday morning GMT), up U.S. $ 1.02 to U.S. $ 105.44 per barrel. Price even had time to touch U.S. $ 107 per barrel – the highest since 26 September 2008.

    On the London stock exchange, oil prices fell 93 percent to U.S. $ 115.05 per barrel.

    The high price of crude oil, according to the observer, as investors continue to regard the situation in Libya, one of the major crude oil producer in the world. Earlier this week the fight between pro-regime of Muammar Gaddafi’s forces with the rebel militia near the city’s main oil port in Libya.

    Since February 15 last upheaval occurred in Libya, thus making the country’s oil exports halted. Thus, market participants warned that the global oil supply levels will continue to pressure for months.

    “Oil Prices will continue to move higher until the situation can be controlled,” said Jim Ritterbusch, analyst at Ritterbusch and Associated. The situation in Libya is expected to disrupt the cartel production target of the world leading oil producing countries, OPEC.

    “When the situation worsened in North Africa or the Middle East, production levels could fall and we will continue to experience depletion of inventories,” said Erik Kreil, an observer from the U.S. Energy Information Agency (IEA).

    According to the IEA, OPEC’s production quota has been targeting its members – including Libya – by 4.7 million barrels per day. However, when supplies from Libya continues stalled, OPEC output quota will be reduced 32 percent to about 3.2 million per day.

    8th March



    Libya raised its oil prices early this March. Libya is one of the major crude oil producers in the world. This article was last updated on March 8th. before the invasion

    Oh and for people using this PATHETIC ARGUMENT BELOW: Libya is still a major oil producer as the article states be it 15th on the List or 20th - it is more than worthwhile for America to steal the oil from whilst remaining inconspicious. So please dont use that silly argument. Also another reason why America didnt intervene during the Egypt Crisis - didnt have a lot of oil
    (Original post by boba)
    top 15 oil exporters:
    1 Saudi Arabia
    2 Russia
    3 United Arab Emirates .
    4 Iran
    7 European Union
    11 Iraq .
    12 Algeria
    13 United States
    15 Libya

    so can we please stop this now?
    I would guess that the reason they are intervening is how much publicity there is and how bad they would look if they didn't.
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    And we still have people (unfortunately) on this forum who insist that America isn't taking oil from Libya despite having any idea of what America is and what they have done in the past.
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    Humanitarian concerns. Bull****.
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    Ghaddafi is an excuse for the US to get into Libya.
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    Proof isn't really needed. Whenever a country (usually America) invades or acts hostility towards a country that has large oil reserves then the Army obviously isn't going there for a jolly boys outing.
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    (Original post by sherlllll)
    Humanitarian concerns. Bull****.
    its obvious why America didnt intervene in Egypt during their crisis - they didnt have an as rich oil supply.

    And we dont need to state that Libya isnt in the top ten biggest oil exporters like some people are desperately trying to show - the point is they have a rich enough supply of oil
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    Proof wasn't needed, we all knew it anyway.
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    yes....that shows that things in Libya effect oil prices.
    I'm failing to see the part where it mentions america reacting BECAUSE of this.
    also is what happening not lead by France and then us being the second biggest player
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    Libya is behind the UK and the Netherlands in oil exports. Surely common sense tells you if they wanted oil they would go into Iran which produces pretty much twice as much?
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    (Original post by imzir)
    And we still have people (unfortunately) on this forum who insist that America isn't taking oil from Libya despite having any idea of what America is and what they have done in the past.
    America doesn't import oil from Libya as far as I am aware.
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    (Original post by imzir)
    its obvious why America didnt intervene in Egypt during their crisis - they didnt have an as rich oil supply.

    And we dont need to state that Libya isnt in the top ten biggest oil exporters like some people are desperately trying to show - the point is they have a rich enough supply of oil
    It didn't intervene in Egypt because they were not slaughtering their own people. Completely different circumstances.
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    (Original post by imzir)
    its obvious why America didnt intervene in Egypt during their crisis - they didnt have an as rich oil supply.

    And we dont need to state that Libya isnt in the top ten biggest oil exporters like some people are desperately trying to show - the point is they have a rich enough supply of oil
    I mean really I'm not trying to pretend that there is no chance that oil is not the reason. but the people in egypt wern't begging for help. and no egyptian pilots had have to defect after being ordered to shoot at their own people. its not quite the same.
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    (Original post by IGregg)
    Libya is behind the UK and the Netherlands in oil exports. Surely common sense tells you if they wanted oil they would go into Iran which produces pretty much twice as much?

    (Original post by Smack)
    America doesn't import oil from Libya as far as I am aware.
    So you reckon they went in for humanitarian reasons?
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    (Original post by IGregg)
    It didn't intervene in Egypt because they were not slaughtering their own people. Completely different circumstances.
    The situation was chaotic enough to be more than justified for America to intervene.
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    It's evident Oil has and will play a big part in it, Libya doesn't have any ordinary oil, it has good quality "sweet" oil as it's called and the biggest reserves in Africa. There are numerous circumstances that this level of intervention could've been applied elsewhere but it hasn't. The fact France has been the biggest pusher of this indicates it's age long involvement with that country i.e Libya/Chad conflict etc. I believe in the future the countries that took part "expect" to get something in return and I'm sure Total and Exxon are just salivating right now.
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    (Original post by IGregg)
    Libya is behind the UK and the Netherlands in oil exports. Surely common sense tells you if they wanted oil they would go into Iran which produces pretty much twice as much?
    America would have to do its best to be inconspicous - common sense :rolleyes:
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    (Original post by imzir)
    The situation was chaotic enough to be more than justified for America to intervene.
    I don't believe a country being 'chaotic' is classed as a valid reason for getting involved in a countries domestic problems. When a leader starts using his own military on civilians then they become war crimes which in my opinion (and it appears quite a few countries aswell as the UN) requires the international community to step in.
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    (Original post by amsie/)
    So you reckon they went in for humanitarian reasons?
    Well obviously not 100%. Political and diplomatic reasons also come into the fray but I believe it is the main factor.
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    top 15 oil exporters:

    1 Saudi Arabia
    2 Russia
    3 United Arab Emirates .
    4 Iran
    5 Kuwait
    6 Nigeria
    7 European Union
    8 Venezuela
    9 Norway
    10 Canada
    11 Iraq .
    12 Algeria
    13 United States
    14 Netherlands
    15 Libya

    so can we please stop this now?
    I would guess that the reason they are intervening is how much publicity there is and how bad they would look if they didn't.
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    (Original post by IGregg)
    Well obviously not 100%. Political and diplomatic reasons also come into the fray but I believe it is the main factor.
    So what other reasons are there, besides humanitarian?
 
 
 
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