Libya Reopens for Oil Business 18 Years After Regime Change
Oil majors are back on the prowl in Libya, with Tripoli launching its first exploration auction since 2007. The Financial Times reports this as a promising development for a 'fragile recovery.' One might wonder why oil exploration stalled for nearly two decades in a country rich with reserves. The 2011 NATO intervention, ostensibly to protect civilians, destabilized the region, creating a power
vacuum still being exploited, allowing for 'new opportunities' for energy extraction. It's almost as if carving up a sovereign state and backing various factions creates the perfect conditions for Western energy firms to swoop in. The same corporate media that cheered on the 'humanitarian intervention' now gushes over the prospect of Big Oil returning to the 'stable' environment they helped
shatter. Funny how 'democracy promotion' often paves the way for resource exploitation.