The geopolitical and economic implications of a US-NATO led military intervention directed against Libya are far-reaching.
Libya is among the World's largest oil economies with approximately 3.5% of global oil reserves, more than twice those of the US.
"Operation Libya" is part of the broader military agenda in the Middle East and Central Asia which consists in gaining control and corporate ownership over more than sixty percent of the world's reserves of oil and natural gas, including oil and gas pipeline routes.
"Muslim countries including Saudi Arabia, Iraq, Iran, Kuwait, the United Arab Emirates, Qatar, Yemen, Libya, Egypt, Nigeria, Algeria, Kazakhstan, Azerbaijan, Malaysia, Indonesia, Brunei, possess between 66.2 and 75.9 percent of total oil reserves, depending on the source and methodology of the estimate." (See Michel Chossudovsky, The "Demonization" of Muslims and the Battle for Oil, Global Research, January 4, 2007) .
With 46.5 billion barrels of proven reserves, (10 times those of Egypt), Libya is the largest oil economy in the African continent followed by Nigeria and Algeria (Oil and Gas Journal). In contrast, US proven oil reserves are of the order of 20.6 billion barrels (December 2008) according to the Energy Information Administration. U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves).
MICHEL CHOSSUDOVSKY, economista canadiano
Note
The most recent estimates place Libya's oil reserves at 60 billion barrels. Its gas reserves at 1,500 billion m3. Its production has been between 1.3 and 1.7 million barrels a day, well below its productive capacity. Its longer term objective is three million b/d and a gas production of 2,600 million cubic feet a day, according to figures of the National Oil Corporation (NOC).
The (alternative) BP Statistical Energy Survey (2008) places Libya's proven oil reserves at 41.464 billion barrels at the end of 2007 which represents 3.34 % of the world's proven reserves. (Mbendi Oil and Gas in Libya - Overview).
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