By all accounts Libyan residents are more wealthy than many neighboring nation’s residents, yet they too are rioting. It’s not their economy; the Muslim Brotherhood is behind it.
Though he only supplies about 2-3% of the world’s oil supply, … as a threat, since the repression by his loyal 45,000 man army has not worked, Libyan president Muammar Gaddafi, is threatening to destroy their wealth and plunge his opposition into poverty. I’m predicting a price on his head and the resulting assassination.
Meanwhile, worldwide prices are beginning to skyrocket! They’ve increased from $95 / barrel and are predicted to go to possibly $200 / barrel. This would put the US consumer right back to 2008 when the prices surged at the pump to over $4 / gallon!
If the Muslim Brotherhood rebellions spread to Saudi oil, some predict upwards of $8/gal which would break the US economy, as is the Brotherhood’s (hidden) intention.
Tens of thousands of Egyptian, Tunisian workers, await transportation from the ports and are crossing the borders in Libya, fearing they’re being blamed by the government for the uprising – fleeing for their lives. PhotoJournal