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Qaddafi Tanks Deprived of Diesel as Ships Shunning Libya: Freight Markets

Scorpio

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#1
Qaddafi Tanks Deprived of Diesel as Ships Shunning Libya: Freight Markets

By Rob Sheridan - Jun 21, 2011 2:48 AM CT

Libyan Refinery

A rebel militiaman stands guard at an oil refinery in El Brega, Libya. Photographer: John Moore/Getty Images

Libyan leader Muammar Qaddafi is facing a fourth month without the diesel cargoes needed to power tanks as he endures an 11-week air campaign led by NATO.

No vessel delivered the fuel to Qaddafi-controlled ports since February, according to five oil-product traders and three shipbrokers interviewed by Bloomberg. The country, once Africa’s third-largest crude producer, normally got four shipments a month, they said. One vessel holds 34 million liters (9 million gallons), enough to fill all Libyan tanks 18 times over, based on data from IHS Jane’s, a military analysis company.

While the country has the continent’s biggest proven crude reserves, oil fields and refineries were shut by the fighting that began with the uprising against the regime in February. Crude rose 37 percent in New York in the next three months on concern that violence would spread to bigger producers. Prices fell 19 percent since the start of May as fighting failed to spread, Saudi Arabia offered more cargoes and on signs global economic growth is weakening.

“I suspect Qaddafi has gone to an austere environment and is not able to replace fuel,” said Robert Maginnis, a senior strategist for the U.S. Army in the Pentagon. “Qaddafi would be hurt more than the rebels if diesel supplies are cut.”

http://www.bloomberg.com/news/2011-...-as-ships-shunning-libya-freight-markets.html
 

Professur

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#2
And this, friends, is the truth of power .... weapons are worthless if you can't get them where they're useful. The gun you leave locked in your trunk ..useless. Bombers carrying nukes with empty wing tanks ... useless.
 

earplugs

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#3
What's he got left? Just tanks but no fuel? Qadaffi got royally ****ed. While not perfect, he will probably do a lot more for the libyans than nato ever will....I say let nato **** the libyans over and disappear some where in sotuh america.
 

pre-64'

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#4
Maybe the Chevy Volt company will start producing electric tanks.
 

Malus

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#5
This is what happens when you try to exit the USD. Don't mess with the bankers........ they make you a terrorist and then bomb the sh*t out of ya.
 

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