On Saturday the 19th March 2011, hours after a cease fire was declared by the Gaddafi regime, a French aircraft carried out the first strike on an unknown Libyan vehicle, fulfilling its promise of US, British and French military intervention in Libya.
Four days and 100 Tomahawk missiles later and untold civilian deaths and injuries, the US, France and Britain still maintain that the attack was intended to protect and free the people of Libya. Ironic as it may seem, everyone agrees that Gaddafi the dictator must go but distrust of the Western powers real intentions have surfaced.
As with Iraq, when the dust of the war settled and with a new government installed, three major Western Energy companies, ExxonMobil, Royal Dutch Shell and British Petroleum (BP) emerged with the contracts to refine Iraqi oil, according to Forbes.com.
This month Iraq will finalize contracts with the likes of ExxonMobil, Royal Dutch Shell and BP to develop some of its biggest oil fields. These giants are among the world's last remaining pockets of so-called "easy oil." They don't require ultradeep drilling or innovative production techniques, just the application of Big Oil know-how. No wonder the oil companies agreed to develop Iraq's fields without even getting an ownership stake in the fields and collecting as little as $1.15 per barrel recovered.
Given the size of Iraq's undeveloped giants there are no technical reasons why within 10 years the country can't supplant both Iran and Russia to become the world's No. 2 oil producer after Saudi Arabia. No wonder Iraq holds three of the top 10 fields of the future.
Proven oil reserves as at 2006
With 39.1 billion barrels of proven oil reserves, Libya represents a significant portion of existing world proven reserves. Further to that, the high quality of Libyan oil and with the price of oil rising above $105 per barrel, these proven reserves will increase as the cost/price ratio makes it favourable for deeper drilling and high cost refinement processes.
So, in time, the alert and aware citizen will soon find out whether the real reasons for the war on Libya was indeed to free people from the Gaddafi regime or to install a puppet government in order to access its oil reserves.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com