Italian Foreign Minister Luigi Di Maio and Libya's Prime Minister Fayez al Sarraj during their meeting in Tripoli, on July 16, 2020.
Security cooperation and efforts against illegal immigration, human trafficking, and smuggling were part of the topics discussed. Libya, with the largest oil reserves in Africa, can produce 1.2 million barrels of crude oil per day.
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Oil Industry, Accustomed To Booms And Busts, Is Rocked By PandemicU.S. oil producers are grappling with prolonged low oil prices and the uncertainty created by the pandemic. 'I do believe that the golden age of the mega deals in oil and gas may be gone,' an analyst says. Why do we need to pay expensive gas bills for these people to run their companies? It seems that virtually commerce in our nation is predatory and requires that we loss massively so that some can gain massively. Ergo, money is not infinite. to have rich, you must have poor. Thank goodness. Renewable has been the right investment for 50 years now. Oil only has money because institutions don't want to pay the cost of switching. With that initial cost going down as tech improves, oil SHOULD die off in our lifetime (assuming normal supply / demand curves)
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