UNISONActive is an unofficial blog produced by UNISON activists for UNISON activists. Bringing news, briefings and events from a progressive left perspective.

Wednesday, 30 March 2011

Oil and Banking - why the west backs the 'Libyan rebels'

In the middle of a civil war the 'rebels' have had time to create a newoil company and a central bank! Their 'advisers' are no doubt the UK andothers to follow the model of banking and oil production that has been the basis of economic success for the elites in the West.

But while the elites have grown richer the rest of the population has seen living standards decline, debts increase massively and energy prices rocket. Libya holds Africa's largest oil reserve. The Transitional National Council released a statement announcing the decision made at a March 19 meeting to establish the "Libyan Oil Company as supervisory authority on oil production and policies in the country, based temporarily in Benghazi, and the appointment of an interim director general" of the company.

The Council also said it "designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi." http://www.bloomberg.com/news/2011-03-21/libyan-rebel-council-sets-up-oil-company-to-replace-qaddafi-s.html 

The so called humanitarian bombings are in reality an effort to support the securing of the largest oil reserves in Africa and the implantment of a failed and discredited monetary system that will result in the debt  enslavement of the Libyan people.