For lefties too stubborn to quit
Someone?s not too happy? 19:52 Wed Oct 01, 2014 | WorldbyStorm
Sickening? 19:47 Wed Oct 01, 2014 | WorldbyStorm
More on 1914, and 1916, 1969 and 2014 too! 13:48 Wed Oct 01, 2014 | WorldbyStorm
Posturing over unfunded tax cuts? 12:44 Wed Oct 01, 2014 | WorldbyStorm
What you want to say ? 1st of October, 2014 03:46 Wed Oct 01, 2014 | WorldbyStorm
Cedar Lounge >>
Joined up thinking for the Irish Left
Mark Fielding Speaks to the Nation: We Don?t Owe You Squat Wed Oct 01, 2014 12:15 | Michael Taft
Demanding the Future: The Right2Water and Another Ireland Tue Sep 30, 2014 21:56 | Paul O'Connell
IBEC?s Myth Debunking is Just Bunk Tue Sep 30, 2014 16:22 | Michael Taft
Consumerism and Equality Mon Sep 29, 2014 15:47 | Jaime Dixon
Investment Remains the Key to a Real Recovery Wed Sep 24, 2014 16:31 | Michael Burke
Irish Left Review >>
NASC: Invitation to Tender for Immigration Research Tue Sep 30, 2014 11:24 | Liam Thornton
Update: Ireland ratifies UN complaints mechanism for children Thu Sep 25, 2014 14:51 | Edel Quinn
Understanding Children?s Rights: A Training Programme on Children?s Rights and Effective Internati... Mon Sep 22, 2014 17:44 | Edel Quinn
Conference on EU Counter-Terrorism, Dublin, 13 October Sat Sep 20, 2014 10:36 | Fiona de Londras
Rooney on Hassan v UK: ?symbiotic approaches?, ?subsequent practices? and amicus curiae Fri Sep 19, 2014 11:13 | GuestPost
Human Rights in Ireland >>
Farewell from NWL Sun May 19, 2013 14:00 | namawinelake
Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake
Of the Week? Sat May 18, 2013 00:02 | namawinelake
Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake
Gayle Killilea Dunne asks to be added as notice party in Sean Dunne?s bankruptcy Fri May 17, 2013 12:30 | namawinelake
NAMA Wine Lake >>
Did Al Gaddafi Mismanage Libya's Oil Wealth?
Tuesday June 04, 2013 14:08 by An Draigneán Donn
Answering the claim, by a certain Liberal, that Muammar al-Gaddafi wasted Libya's oil wealth.
Did Al Gaddafi mismanage Libya's oil wealth?
In relation to your question, we have to consider the criteria by which these commentators are judging mismanagement. These commentators are Neo-Liberals. As far as they are concerned, profits from oil should be used to push up share prices in multi-national corporations. To spend oil profits on feeding hungry children, or giving them free housing or free food is gross mismanagement. Such dastardly behaviour pushed down property prices, and makes it very difficult for property speculators to make a quick buck.
Another case of gross mismanagement was when Al-Gaddafi decided to spend 40 billion of oil revenues on building the Great Man Made River. Sure, it gives Africa as much water as the Nile flowing for 200 years. Sure its, by far, the biggest engineering project of all time. Sure, it's, by far, the greatest humanitarian project of all time. But, where is the profit for private investors??? Al-Gaddafi was giving the water to poor farmers at discount prices. No profit at all. He was giving the water to people to drink for free. The damned scoundrel. And the worst part of it all - he built the entire project without borrowing one single penny from the international banksters. How can you build anything without giving the banksters their cut??? This man was a dangerous terrorist. He had to be stopped.
And, as if that wasn't enough insanity, Al-Gaddafi stock piled 140 tons of gold in Tripoli to be the basis of an African Central Bank, with a pan-African currency, the Gold Dinar. No longer would the USA be able to buy African oil and mineral resources with Monopoly Money - that is simply printed at will. Africa would have to be paid with real value. The IMF and World Bank vultures would be kicked out, and the 25,000 children, who die every single day from drinking dirty water, would have clean, fresh water to drink, and food to eat. Can you imagine more obscene mismanagement of Libya's oil money?
It's on a much smaller scale of mismanagement, but, Al-Gaddafi also used Libyan oil money to support freedom struggles in places like Ireland, the Basque Country, and Palestine. Al-Gaddafi, the fool that he was, didn't understand that freedom only means the freedom of the rich to profit. He had silly ideas about nations having dignity and honour and sovereignty.
Not only that, but, instead of putting the oil money into the hands of a tiny Libyan elite, along with Anglo-Saxon oil companies, as King Idris had done, Al-Gaddafi built roads and hospitals and mosques in many African countries. This was money that rightfully belonged to the Libyan business and landowner class.
We see that Ireland is an excellent example of good management. When times are good, the rich become incredibly rich. When the greed of the rich destroys the whole economy, the poor pay for the crimes of the rich. That's what these commentators consider to be good management, and that's what their "revolution" has now brought to Libya.