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As Libya Spirals Toward Chaos, The West Has Financial Levers To Stop The Fighting

Just as oil and gas wealth were the pillars of Col. Muammar Gaddafi’s brutal rentier state, they are at the heart of the civil conflict raging in Libya – demonstrated recently by an escalating battle over storage depots and lifting ports in the country’s oil-rich East, and rumors of an imminent siege of Libya’s former capital city of Tripoli, which threatens full-blown civil war. Libya’s oil production, which was up to 800,000 bpd in October, has fallen in the last few days to (optimistically) 350,000 bpd, and will likely go much lower.

Article by Ethan Chorin and Monem Alyaser, Forbes.

To read the full article click here.

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