Poll: DELETED_74993

Were we right to get involved in Libya?

  • Yes

    Votes: 306 50.9%

  • No

    Votes: 295 49.1%
  • Total voters
    601
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Further to my mention of oil production spare capacity, an article from a few weeks ago.

Goldman Sachs suspects that OPEC has been pumping far above its agreed quota since November and therefore cannot easily raise output much without cutting deep into global spare capacity.

Jeff Currie, the bank's oil guru, said Saudi output had quietly crept up by 700,000 barrels a day (bpd) even before the Libyan supply shock.

Assumptions that OPEC has added 1.9m bpd over the last two years are wishful thinking. These new fields have been "largely offset" by attrition in old fields.

"We believe that OPEC spare capacity has already dropped below 2m bpd. The question therefore arises how much spare capacity is left to absorb potential supply disruptions in other countries," he said.

If this picture is broadly correct, spare capacity is already close to the wafer-thin levels that led to wild price moves in mid-2008.
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http://www.telegraph.co.uk/finance/...rage-as-global-spare-capacity-wears-thin.html
 
LateX'Dog said:
Global Research: “Operation Libya” and the Battle for Oil: Redrawing the Map of Africa: March 9, 2011

Libya is among the World's largest oil economies with approximately 3.5% of global oil reserves, more than twice those of the US.

Go and read this:

http://www.globalresearch.ca/index.php?context=va&aid=23605
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Libya is among the World's largest oil economies with approximately 3.5% of global oil reserves, more than twice those of the US.
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Libya has twice the proven reserves of America does it?

Does it state who came up with those numbers?

Just to quote me from before:

Firestar_3x said:
Americas total proven oil reserves at the end of 2009 are 73.3 thousand million barrels.

Libya has 44.3 Thousand million barrels.
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RDM said:
But the oil was already flowing and flowing in the right direction, so if it is "all about the oil" then why didn't we just let Gadaffi get on with it?
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It stopped flowing when the rebels in the east of Libya forced the European oil workers to leave, at gunpoint, remember?
 
dirtydog said:
It stopped flowing when the rebels in the east of Libya forced the European oil workers to leave, at gunpoint, remember?
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And it would flow faster if we just let Gadaffi slaughter them all and turn the taps on. So why back the weaker side and make the conflict more prolonged?
 
RDM said:
And it would flow faster if we just let Gadaffi slaughter them all and turn the taps on. So why back the weaker side and make the conflict more prolonged?
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I don't have all the answers as to why they didn't back Gaddafi when they are backing other equally 'bad' regimes elsewhere in the region. They obviously calculate that this is the best policy to serve their interests and they will have their reasons, whether they are well founded ones is another matter - time will tell in all of this.
 
Robboftw said:
I'm quite sure the international committee would be behind such an action, as it will ultimately be saving innocent lives and killing a madman.
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I have no interest in 'killing' anyone, and it isn't legal in international law, not to mention morally acceptable, to go around murdering foreign leaders just because you don't like the way they run their country.
 
anyone else a bit ****ed off that russia, germany and china didnt vote and are now getting on the high horse? i find it very annoying!
 
Let me post you some pictures one second:

americav.png


libyas.png


73 vs 44 Thousand Million Barrels
 
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CAT-THE-FIFTH said:
It was destroyed by a jet as it was part of the convoy of tanks bombed by the French.
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You don't know that to be fact.

CAT-THE-FIFTH said:
Like I said before it is unlikely that Libya has upgraded systems since they were under sanctions for so long. The older systems have been compromised for many years. The South Africans captured at least one complete Cuban SA8 system during the 1980s and many of these systems were available for examination by the US and UK after the USSR fell apart.
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We have one at Duxford museum, as well as many soviet AAA and MANPADS, what's your point?


CAT-THE-FIFTH said:
The Libyan air force is in poor condition and most likely is its air defence system.
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You're not qualified to make that assessment

CAT-THE-FIFTH said:
In fact MANPADs and AAA have shot down more NATO and US aircraft in the last few years than systems like the SA8.
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Perhaps, but that would be due to numbers; MANPADS and AAA are much more abundant. You don't state which types of aircraft those were, my bets would be helo's, not jets. All I am pointing out is the Gecko is more effective and a greater threat to our jets than an Igla shoulder mounted missile. On paper this is fact and on planning bombing sorties these facts are taken into consideration. This is why a multi $ bomb was dropped on it, because it was a major threat.
 
Those Canadian reserves are misleading incidentally, because although they have vast reserves of oil from tar sands, they cannot and never will be able to produce it in very large daily quantities. (Plus production is a lot more cost and energy intensive than, say, Libyan oil.)
 
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