Friday, March 11, 2011

Britain Fears Huge Loss in Libya

The British Prime Minister should be more concerned when he makes a 'far more aggressive' call for military intervention in Libya than any other Western leader.

According to what British officials say privately, there is a more pragmatic concern, based on which David Cameron would be forced to intervene in the crisis-stricken North African country to save UK's vast oil investments in Libya.

The London-based oil company British Petroleum (BP) has developed a huge stake in Libya's vast national resources after the Libyan despotic ruler Muammar Qaddafi dismantled his feared nuclear weapons program on December 19, 2003 and opened up his country's lucrative market to western companies.

Thus, the British Prime Minister is worried that a large and sudden loss of BP revenues in Libya could damage his government's tax base badly at a moment when Britain is struggling to recover from a deep recession.'


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