My point was that although foreign oil has access they certainly do not have control as was claimed. You simply ignore the fact that Gadaffi was threatening nationalisation which would further decrease profits and had altered the production agreements to give Libya 5.4 billion more. Do you really think this might not lead the oil companies to seek better terms and even privatize everything as was attempted in Iraq? The rebellion against Gadaffi is a golden opportunity to establish a more friendly regime and better conditions for capitalist exploitation of oil resources. Cheers, ken+
----- Original Message ---- From: Marv Gandall <[email protected]> To: Progressive Economics <[email protected]> Sent: Thu, March 31, 2011 1:01:40 PM Subject: Re: [Pen-l] Libyan Oil Ownership (was re Juan Cole etc.) I was simply making the point that ownership (or lack of it) has little bearing on access to oil. The US and EU have all the access to it that they need in both Saudi Arabia, (100% state owned) and Libya, where the Libyan National Oil Corporation and its subsidiaries account for about half the country's output. Actually, the problem the Gadhafi regime had until it reconciled with the West in 2003 wasn't resisting foreign attempts to take over its oil fields, but US and UN sanctions which prohibited the oil majors from investing in exploration and production activities at the behest of the regime. http://en.wikipedia.org/wiki/National_Oil_Corporation On 2011-03-31, at 9:25 AM, Doug Henwood wrote: > > On Mar 31, 2011, at 9:18 AM, Soula wrote: > >> Absolutly it is not pricing it is about control > > What does "control" mean in this context? > > Doug > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
