Libya’s path to oil riches remains treacherous
Enormous oil wealth lies thousands of feet below Libya, but whether it will be claimed, and by whom, now that Moammar Gadhafi is gone is very much an open question.
Drilling and shipping equipment has been damaged in the Libyan civil war, land mines must be cleared around oil fields, and a legal framework for how oil money is collected and distributed must still be worked out.
Whatever government is formed could open vast regions of Libya for drilling at reasonable terms - or it could demand that foreign oil companies pay exorbitant royalties or require them to build infrastructure in exchange for access to oil.
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