Cornwall ON – Well it looks like Libyan murderer Muammar al-Gaddafi is headed out of Libya, but not before killing more of his own protesters as civilian protesters are being fired upon. The longest serving leader in the region, since a military coup in 1969 Mr. Gaddafi is rumored to be heading to Venezuela for asylum.
If you watch facebook and You Tube you can see many street reports.
Video with Appeal for Help from Protester
httpv://www.youtube.com/watch?v=oObXH3TD4WQ
“I am an international leader, the dean of the Arab rulers, the king of kings of Africa and the imam (leader) of Muslims, and my international status does not allow me to descend to a lower level.”
That quote from news.scotsman.com from 2009.
The Middle East seems to be realigning and there seem to be a changing of the guard. What’s most interesting is that lack of Religious
demonstration, but rather economical protests that are taking place in many of these countries.
Egypt is in military hands, Algeria, Libya, Yemen, Bahrain, Djibouti, and Kuwait are all reporting violence and protests.
The most troubled and politically unstable region on the planet is shaking.
Oil Prices as well as Gold prices have spiked with Oil trading at over $104US per barrel and Gold trading over $1400 per ounce.
Libya produces as much as 2% of OPEC Oil output
Libyan Mirage jets landed in Malta after the pilots requested political asylum.
Now the questions start about who takes over where and how it will truly impact stability in an area that has no Democratic history and is open to many influences from the West, the East, and from Militant Islamic nations such as Iran, Syria, and factions within Lebanon.
You can post your comments below and if you’re in Libya you can email any photos or video to info@cornwallfreenews.com
Libya actually produces 2% of WORLD oil output, not merely OPEC’s (plus 1% of world natural gas output). It is also the largest oil producer in Africa.
Right now, many oil companies are pulling their people out of the country, so there’s no guarantee of supply until the situation stabilises.
A 2% loss of world oil output would have a major effect on prices, and if Islamic extremists manage to take over, this might only be a prelude.
In the mean time, consider keeping your gas tank full.
Too bad that all the oil resources out west are no longer owned or run by Canadians, for Canadians. There’s no shortage of oil and gas being produced right here in Canada. We just gave it all away.
Regardless of the fact that much of Western Canadian oil is not owned by Canadians (Canada is one of the few oil producing countries that does not have a national oil company), there is really no way to get any of it into Eastern Canada unless it is piped through the States. If there is ever a massive world supply disruption, Ontario might just “freeze in the dark.”
Interesting that TransCanada PipeLines, LP is currently building a pipeline to transport crude from Alberta to Texas refineries. Actually, there are still a lot of Albertans who would still love to see us “Eastern bastards freeze in the dark”.
Furtz I can even remember the bumper stickers saying just that!
You know, didn’t our government give over the Libyan bombers back to Libya? or some stupid deal like that? In exchange for concessions to oil there and such? Or did that have something to do with BP as well? Could someone refresh me on that?
Yup, It’s easier and cheaper (for now) for us Eastern bastards to get our oil from Middle Eastern dictatorships than from Alberta. Kinda like shopping at Walmart.