Events in Libya Should Toughen Resolve to Wean U.S. from Foreign Oil
It didn’t take the media long to switch from the disaster in Japan to the conflict in Libya that heated up over the weekend, when a coalition of nations including the U.S. decided it was time to go in and protect the Libyan people.
Although I believe it is morally right for us to try to protect people from being killed by their own government, I just wonder why we have acted in Libya and not in other countries where similar situations have occurred. And what will be our excuse for not going in to defend citizens of other countries when their leaders attack them?
This action just increases the suspicions of those who say the world only worries about countries that hold the keys to their oil supply. I’m sure those suspicious people are wondering if the cost of this war will be added on to all the other incentives and tax breaks that Big Oil receives.
There is no doubt that the battle in Libya has impacted oil prices and there are plenty of fans out there fueling the fire, including this Bloomberg news story that ran on March 19 saying: “Libya’s oil production fell to less than 400,000 barrels a day after foreign companies pulled out their staff, the chairman of the country’s state-run National Oil Corp., Shokri Ghanem, said in a televised media conference from Tripoli.
Ghanem said the North African country had no intention of breaking commitments with foreign companies and called on them to send their employees back to resume work. Libya may otherwise award new oil and gas concessions directly to companies in countries such as China, India and Brazil in order to raise production, which ‘could reach a halt,’ he said.
Within hours of Ghanem’s remarks, war planes and naval vessels from the U.S., Canada, France, the U.K. and Italy began bombing Libyan air defenses and other military targets to enforce a United Nations-authorized no-fly zone.”
For me this just makes it even more imperative that we wean ourselves from foreign oil and produce more reliable, homegrown renewable energy.