Libyan “Rebel Council” Forms Oil Company to Replace Qaddafi’s
March 30, 2011 By 4 Comments
Editor’s Note: Please. Listen people, it’s time for a reality check. We’re going to just throw this out there for any of our confused readers who still believe- in their heart of hearts, that this attack on Libya is for humanitarian reasons. If you fall into this camp, well… you’ve been duped again. Iraq should have your wake up call, but we are aware that many people suffer from short-term memory loss. At some point, you will have to wake up and realise that powerful western financial interests are steering the economic takeover of these sovereign states, like parasites feeding off the resources of their new host. So we only ask that next time, when the sparks fly, watch as the players move in for the kill… Bloomberg Financial reports: Libyan rebels in Benghazi said they have created a new national oil company to replace the corporation controlled by leader Muammar Qaddafi whose assets were frozen by the United Nations Security Council. The “Transitional National Council” released a statement announcing the decision made at a March 19 meeting to establish the “Libyan Oil Company as supervisory authority on oil production and policies in the country, based temporarily in Benghazi, and the appointment of an interim director general” of the company. The Council also said it “designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.” The Security Council adopted a resolution on March 17 that froze the foreign assets of the Libyan National Oil Corp. and the Central Bank of Libya, both described in the text as “a potential source of funding” for Qaddafi’s regime. Libya holds Africa’s largest oil reserve. Output has fallen to fewer than 400,000 barrels a day,Shokri Ghanem, chairman of the National Oil Corp., said on March 19. The country produced 1.59 million barrels a day in January, according to estimates compiled by Bloomberg. Exports may be halted for “many months” because of sanctions and unrest, the International Energy Agency said.