Gaddafi’s Next Move: Sabotage Oil and Sow Chaos?


There’s been virtually no reliable information coming out of Tripoli, but a source close to the Gaddafi regime I did manage to get hold of told me the already terrible situation in Libya will get much worse. Among other things, Gaddafi has ordered security services to start sabotaging oil facilities. They will start by blowing up several oil pipelines, cutting off flow to Mediterranean ports. The sabotage, according to the insider, is meant to serve as a message to Libya’s rebellious tribes: It’s either me or chaos.

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Oil surges to near $120, then eases on Saudi assurance

“Saudi efforts to assuage supply concerns are definitely weighing on prices and if Qaddafi’s next move is out of the country, I would expect more down side,” said John Kilduff, a partner at of Again Capital LLC.

Brent crude rose $3.45 to $114.70 a barrel at 1:19 EST, after hitting a session high of $119.79, the highest since August 2008. U.S. crude rose $1.31 to $99.41 a barrel, after touching $103.41, the highest since September 2009.

The stronger gains in Brent pushed its premium to U.S. oil, which has been weighed down by high inventories at the Cushing, Oklahoma delivery point for the New York Mercantile Exchange’s U.S. oil contract, out by more than at dollar to over $14 a barrel.

So We as a Nation are “held hostage” to OPEC and the EPA in regards to the price of Gas at the pump.
One of which profits from US, the other is on the Tax Payer’s payroll.