Prepare for higher oil price because the “mad dog” is running wild. Dictator Muammar Gaddafi has launched a shocking war against his own people, killing at least hundreds and probably thousands in attacks by warplanes and foreign mercenaries. Reports of 400 dead, mystery Libyan jets landing in Malta, military retreating to their compounds and whatnot has spook the price of black gold.

On Tuesday Gaddafi gave a bloodcurdling speech in which he vowed to fight to the last drop of blood and cited the China’s Tiananmen Square massacre as an example. The guy who was labelled as “the mad dog of the Middle East” by former President Ronald Reagan is now labelled as a “coward” by his people when he was reportedly fled (to Venezuela) the capital Tripoli after anti-government demonstrators breached the state television building.

 

Gaddafi was so mad that he ordered Libyan fighter jets to bomb civilians and unleashed an army of foreign African mercenaries – paid up to £20,000 a head – to gun down protesters from 4×4 vehicles. Two Libyan fighter jets landed unexpectedly at Malta’s international airport and their pilots asked for political asylum because they had refused to carry out Gaddafi’s orders to bomb their own people.

Gaddafi was only 27 in 1969 when Libya’s King Idris made the mistake of going overseas (spot the similarity with Thailand former PM Thaksin?) of which the then Captain Gaddafi seized the opportunity to led a bloodless coup. He was prime minister thereafter but soon power went to his head. He sponsored numerous terrorisms and after he had his fun bombing a disco in Berlin in 1986 killing two American soldiers, Reagan bombed Tripoli and Gaddafi’s tent.

Colonel Gaddafi went quiet for a while with his tail between his legs, at least for a while before he went mad again and ordered the bombing of Pan Am Flight 103 over Lockerbie just before Christmas in 1988. All 259 people on board were killed and 11 died on the ground. Gaddafi’s government denied but finally admitted liability in 2003 for the Lockerbie tragedy and paid US$2.7 billion in compensation for the victims’ families to secure the lifting of U.N. sanctions against Libya.

 

The 68-year-old Libyan leader defiantly refused to step down amid widespread anti-government protests vowing to fight to the last “drop of his blood”. However, there were growing signs he was being isolated after reports suggested several overseas diplomats had resigned in protest at the violent crackdown against protesters. The mad leader, frequently shouting and banging his fist on the table as the address continued, blamed the unrest on “cowards and traitors” who had been given drink and drugs, were seeking to portray Libya as a place of chaos and to “humiliate” Libyans.

One of Gaddafi’s seven sons, Saif al-Islam, was more amusing when he claimed troops had opened fire at civilians because they were not trained to handle civil unrest and that “drunkards and thugs” were driving tanks about the streets, and many rioters were fuelled by drugs. In a latest report, his father even ordered the disruption of Libyan oil exports by destroying pipelines to the Mediterranean. If this is not an act of a mad dog, I do not know what is.

Interestingly, Colonel Gaddafi is constantly surrounded by an army of 40-member group of virgin bodyguards. He also prefers to sleep outside in a Bedouin tent and has been known to take camels along on his foreign visits for their milk. The mad dictator also has a nurse (ahem), a blonde from the Ukraine, who travels almost everywhere with him.

Obama administration is now being condemned for not doing enough in spite of Gaddafi’s son threat to kill hundreds of thousands of Libyans – on TV. American and other western governments may be screaming about human rights till foam at the mouth but it seems in Libya case, oil speaks louder than human lives. Understandably, European Union buys 79% of Libya’s oil while American energy companies are operating in full force in Libya. 

 

Hence, will the western countries start to lift their fingers only after more people are being killed or will the innocent lives continue to die in vain in the name of freedom, which was constantly being championed by the West but is now being ignored? If it’s all about oil that U.S. and other western governments care, then dictators from other countries may have just found the silver bullet to stay in power indefinitely – offer oil in return for barbarian killings.

Will country such as Malaysia whereby its prime minister had declared that he would cling to power no matter what would resort to Gaddafi’s method? Anyway, the uprising in Libya would not end anytime soon so expect any stocks which depend on oil such as airlines to be affected.

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February 23rd, 2011 by financetwitter

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