Free Libya

Juan Cole explores ten myths about the Libya war. The tenth myth is that the war was all about oil. Here’s Cole’s response:

That is daft. Libya was already integrated into the international oil markets, and had done billions of deals with BP, ENI, etc., etc. None of those companies would have wanted to endanger their contracts by getting rid of the ruler who had signed them. They had often already had the trauma of having to compete for post-war Iraqi contracts, a process in which many did less well than they would have liked. ENI’s profits were hurt by the Libyan revolution, as were those of Total SA. andRepsol. Moreover, taking Libyan oil off the market through a NATO military intervention could have been foreseen to put up oil prices, which no Western elected leader would have wanted to see, especially Barack Obama, with the danger that a spike in energy prices could prolong the economic doldrums. An economic argument for imperialism is fine if it makes sense, but this one does not, and there is no good evidence for it (that Qaddafi was erratic is not enough), and is therefore just a conspiracy theory.

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