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The fact is that production costs here are no higher than two dollars per barrel of oil. In addition, Libyan oil commands particularly high prices on the world market because of its special qualities. Annual oil production in Libya is 77 million tonnes. In 2009, total revenues came to $31.5 billion. With the price per barrel now double what it was in 2009, the revenues from operation of Libyan oil fields have become simply fantastic.
Let’s take a look at how the Libyan oil that leaves the country is proportioned out. According to 2009 data, Italy bought almost a third of all Libyan oil (32%). Germany came in second (13.4%); France and China tied for third place (10% each); and Spain brought up fourth place (8.6%). Other European countries got 13% (Serbia, Great Britain, the Netherlands, Austria, Portugal, Ireland, Greece, Sweden and the Czech Republic).
The Americans received only 6% of Libya’s oil... [In Full @ Oriental Review]
President Obama's top aide, Bill Daley, floated out the notion that we might draw down America's Strategic Petroleum Reserve (SPR) so that the imprudent folk who traded-in clunkers for new Ford F110s and Cadillac Escalades won't feel any pain from four-dollar gasoline.
Harken, now - a reminder to the rest of you out there who do not have tubeworms boring tunnels through your brain-pans: there's a reason the petroleum reserve is called "strategic."
We didn't stockpile that oil to pretend to be the world's "swing producer" for a month and a half, just to knock the price down twenty-seven cents a gallon so that soccer moms could feel more comfortable bidding for an Auslini Veneto crocodile leather handbag on The Shopping Channel.
Strategic was meant to imply when something really really bad happens, like a national emergency, say, with military overtones. [More @ ClusterFuck Nation]
Secretary of War Gates announces extended U.S. occupation in AfghanistanMeanwhile, the Afghani population (and a good part of the rest of the world) is enraged at the deaths by US air strike of nine children sent by their family to retrieve firewood. "On Feb. 18, 64 civilians were killed during a similar strike in Ghaziabad district of the province. Afghan investigators said the dead included 20 women and 29 children." More at Rawa (Revolutionary Association of the Women of Afghanistan).
U.S. Secretary of War Robert Gates arrived in Afghanistan on Monday March 7th for a two day unannounced visit. He immediately stated that the U.S. and its puppet Afghan government have agreed to extend U.S. military involvement beyond the previously announced plan to end U.S. combat operations in 2014.
This should come as no surprise to any of our readers... [More @ TheWorldCantWait]
Timothy DeChristopher Found Guilty for Climate Civil DisobedienceThat's right... DeChristopher could get ten years in prison for what was essentially a non-destructive, non-threatening prank.
Faces a sentence of up to 10 years
7 March 2011
by Jamie Henn
published at the Huffington Post
On Thursday, a jury in Salt Lake City declared climate activist Tim DeChristopher guilty for his interference with an oil and gas auction held at the end of the Bush administration ( DeChristopher knowingly bid on parcels without intent to actually purchase them causing a delay and disruption in the sale of the land to oil drillers).
He faces a sentence of up to 10 years, to be determined by a judge.
The following is a transcript and video of Tim’s speech outside of the courthouse after the guilty verdict was handed down.
Tim’s words are reminiscent of the heroes of other social movements that used civil disobedience to achieve their ends. And they’re a challenge to all of us working to solve the climate crisis to consider our own willingness to go to jail for our beliefs (in fact, a website, Climate Direct Action, has been set up for people to sign up to learn more about how to take part in civil disobedience for the climate). [Here is Tim’s speech...] H/t: EarthFirst!
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