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America the Lone Bright Spot
in International Oil Outlook

American Interest, by Walter Russell Mead & Staff

Original Article

Posted By:MissMolly, 7/12/2014 4:27:39 AM

One side effect from the chaos in Libya following the armed conflict in 2011 has been constant disruptions of the country’s considerable supplies to the global oil market. But while its output remains just a fraction of what it was under Qaddafi, it does seem to be rebounding recently, as Bloomberg reports: Libya pumped 300,000 barrels a day in June, down 73 percent from a year earlier, according to a Bloomberg survey of oil companies, producers and analysts. Output has risen to 350,000 barrels a day, National Oil Corp. spokesman Mohamed Elharari said by phone yesterday. This recent rebound notwithstanding, risks abound

      


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Reply 1 - Posted by: Trigger2, 7/12/2014 5:22:24 AM     (No. 9920803)

Don´t bother celebrating. Barry will soon ban drilling for any oil/gas in all states and dictate only uneconomical solar panels and windmills can be used. The WH and big bundlers would be exempt.

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Reply 2 - Posted by: Policom, 7/12/2014 6:17:10 AM     (No. 9920840)

Thank heavens for all the new revenue that oil brings in. It´s about time the US gets to cash in on some of the global market. Hopefully Obama will realize that he needs some revenue coming into the treasury.

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