To preserve Libyan unity, the United States should threaten to block any oil shipments not authorized by the country’s internationally recognized government. On June 21, Gen. Khalifa Haftar, the commander of the Libyan National Army, reclaimed two of Libya’s largest terminals after the militia leader Ibrahim Jadhran had seized them earlier in the month. Haftar… Keep reading →
Rather than leaving the job to Europe, Washington can articulate a clear Libya policy at the September UN General Assembly meeting, thereby making a political deal more likely to achieve and enforce. As Ghassan Salamé, the fifth Special Representative of the Secretary-General for Libya, seeks to stimulate the Libyan peace process, several new international dynamics… Keep reading →
While recent battlefield successes against the group’s Libyan stronghold are encouraging, the threat persists, and political dysfunction remains a significant obstacle to stabilizing the country. The battle to uproot the Islamic State in Libya (ISL) from Sirte, the group’s de facto North African capital, may soon result in victory for the Western-backed Operation Binyan Marsous… Keep reading →
Oil prices increased to their highest in nearly two months on Monday, following concerns over escalating conflict with Islamic State militants in Libya and threats to withhold exports from Iraq’s semi-autonomous Kurdish region. “Egypt bombed Islamic State targets inside Libya on Monday and Cairo renewed calls for a U.S.-led coalition to confront militants there a… Keep reading →
Ed. note: This is a weekly column by Elie Mystal, Managing Editor of Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Oil That Funds Terrorism: Evil crackpot Zacarias Moussaoui, a former Al-Qaeda operative in prison because we caught him,… Keep reading →
The smart grid has been slow to materialize for a combination of factors including investment challenges, but 2014 featured some important advances. “But these challenges also helped define the opportunities for companies, utilities and regulators working on building the next stage of smart grid — a “smart grid 2.0,” if you will. From building on… Keep reading →
Billionaire activist Tom Steyer came under the microscope last week when the New York Times profiled his role in managing a fund that invested heavily in Australian coal. Now a climate change mitigation crusader and democratic funder, some have called Steyer’s former Wall Street activity his Achilles’ heel, but many in the environmental community rushed… Keep reading →
The Brent-WTI spread narrowed further yesterday, with the price differential currently around $6/bbl, as Libya continues to shake up the international oil market. “Libya, the holder of Africa’s biggest crude reserves, has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after protests halted production and shipments. Output shrank to 250,000 barrels… Keep reading →
In a story developing throughout the week, Libyan rebels sold 230,000 barrels of crude oil officially owned by Libyan National Oil Company to a North Korean-flagged tanker heading to an unknown destination. In response, the Opec member country sacked Prime Minister Ali Zeidan on Tuesday. [AFP and Reuters] The Tesla Motors sales model took a… Keep reading →
Amid all the uproar over the US’s surprising oil production growth of the last few years, some oil market watchers may have inflated expectations of just how well-supplied the market is. US onshore oil supply growth has helped to boost global oil market supply, helping to insulate prices from the impact of disruptions, such as… Keep reading →
