Euro News: 'Libya's Oil Industry To Start Restart Pumping Mid-September'

 

Source:Euro News- a man who was interviewed for this piece.

"Euronews is a pan-European pay television news network, headquartered in Lyon, France. The network began broadcasting on 1 January 1993 and aimed to cover world news from a pan-European perspective.

It is jointly owned by several European and North African public and state-owned broadcasting organizations, and is currently majority-owned (88%) by Media Globe Networks, led by Egyptian billionaire Naguib Sawiris, who is the chairman of the supervisory board. It is also a provider of live streaming world news, which can be viewed via its website, on YouTube, and on various mobile devices and digital media players." 

From Wikipedia 

"Libya's new oil minister says he expects production of crude to restart in about ten days. Ali Tarhouni said the pumps will begin again in the Misla and Sarir oilfields around the middle of the month. The industry is central to Libya's recovery. Before the war to unseat Muammar Gaddafi it was churning out 1.6 million barrels a day. It's expected to take another 15 months before it recovers to that level. Euro News." 

From Euro News

The average Libyan makes around 11K$ a year which is pretty good for Arabia, where most Arabians make around 2-5K$ a year. But these are still third world wages in a country with first world natural resources thats also a large country, but lightly populated. (A little over 6M people) So it's not like they have to worry about overcrowding and being able to feed enough people. 

Because Libya is deep in resources and land, but with a light population, they can do these things and literally start from scratch and build up its rotten health care and education systems, so their people can be healthy and can get the skills that they need to get good jobs in Libya. And with Libya's oil industry, they'll not only be able to use their oil for their own energy needs. But they'll be able to export their oil to Europe, North America, and Asia. 

Hopefully America will get to the point that we'll no longer have to import Arabian oil or any other oil but we are certainly not there yet. But Libya will be able to use their oil revenue to help build up the rest of the country and even diversify the rest of the economy. Perhaps even having its own auto industry where they are making their own cars and even having their own auto companies and they wouldn't have to import so many cars from Europe and Asia. And have a broader transportation industry in general and use their own oil to power their own autos. 

Libya has a long way to go to rebuild and build up the rest of their large country and they are going to need a lot of money to do that. Which is why rebuilding their oil industry is critical as well as foreign trade with new trade agreements with Europe, North America, South America, and Asia. And of course lifting of economic sanctions on Libya and returning frozen assets back to Libya. And will probably need foreign aide as well, at least until they can get their economy going again. 

Libya now has an excellent opportunity here to make this all happen and not just build up part of the country. Which is what the Gaddhafi Regime did but build up the rest of the country as well so all of Libya can take advantage of its natural resources. And people can see and live in the whole country not just parts of it because the rest of the country gets developed as well.