A little under two years ago, Philip Hammond, the Defence Secretary, urged British businessmen to begin “packing their suitcases” and to fly to Libya to share in the reconstruction of the country and exploit an anticipated boom in natural resources.
Yet now Libya has almost entirely stopped producing oil as the government loses control of much of the country to militia fighters.
Mutinying security men have taken over oil ports on the Mediterranean and are seeking to sell crude oil on the black market. Ali Zeidan, Libya’s Prime Minister, has threatened to “bomb from the air and the sea” any oil tanker trying to pick up the illicit oil from the oil terminal guards, who are mostly former rebels who overthrew Muammar Gaddafi and have been on strike over low pay and alleged government corruption since July.
As world attention focused on the coup in Egypt and the poison gas attack in Syria over the past two months, Libya has plunged unnoticed into its worst political and economic crisis since the defeat of Gaddafi two years ago. Government authority is disintegrating in all parts of the country putting in doubt claims by American, British and French politicians that Nato’s military action in Libya in 2011 was an outstanding example of a successful foreign military intervention which should be repeated in Syria.
And now let's revisit the last Middle Eastern community that Obama re-organized
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Inflation is progressive utopians encountering resource constraints for the first time.