Joined up thinking for the Irish Left
New Books Worth Reading Mon Sep 19, 2016 23:25 | Seán Sheehan
13 Billion ? Lucky for some? Mon Sep 05, 2016 13:04 | Tony Phillips
Rebuilding Ireland: Long on Promise, Short on Detail Mon Aug 29, 2016 22:20 | Eoin O'Mahony
Brexit and Other Issues: Comments on the Current Situation Mon Aug 29, 2016 21:52 | Brendan Young
Bin Charges: From Private Circus to Public Service Tue Jun 21, 2016 12:38 | Michael Taft
Irish Left Review >>
Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh
Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason
Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien
Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding
Trump, Russia and the CIA Sat Dec 10, 2016 18:23 | Gavin Mendel-Gleason
Spirit of Contradiction >>
Life should be full of strangeness, like a rich painting
Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017
IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017
Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016
The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015
Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015
Dublin Opinion >>
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.