Libya: The Energy Player Not to Be Dismissed

On September 1, 2009, Libya lavishly celebrated the 40 years in power of its leader Colonel Muammar Gaddafi. Once qualified as the mad dog of the Middle East by President Ronald Reagan, Gaddafi has demonstrated a sheer ability to make of his once pariah country of 6 million people, one of the most assiduously courted both by countries and companies. Libya is the perfect example of Realpolitik at work where pragmatism prevails to promote commercial and national interests. The September 2009 Staff Report from International Monetary Fund summarizes the situation well: “the ongoing normalization of diplomatic relations with the U.S. and the European Union since 2007 continues to contribute to foreign investor’s interest, particularly in the hydrocarbon, banking, and infrastructure sectors.”
Full article at: Libya