As BP Prepares To Evacuate Staff From A Burning Libya, Commodities Are Exploding

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Mon, 02/21/2011 - 08:53 | 981196 99er
99er's picture

Futures are open...and NQ looks poised to fall.

Mon, 02/21/2011 - 09:08 | 981231 HelluvaEngineer
HelluvaEngineer's picture

No doubt Ben and his cronies are frantically buying markets across the globe.  Will he be able to halt the selloff in time for our market open tomorrow morning?

Mon, 02/21/2011 - 10:12 | 981387 Thomas
Thomas's picture

I am Blithely very long silver. The obscure Hunt brother, Michael Hunt, is also long.

Mon, 02/21/2011 - 10:54 | 981487 egdeh orez
egdeh orez's picture

I can't believe no one has said this yet...

Silver, BITCHEZ!

Mon, 02/21/2011 - 15:37 | 982494 Cyrano de Bivouac
Cyrano de Bivouac's picture

We should be saying...                       Dinty Moore beef stew, Bitchez!

Mon, 02/21/2011 - 18:10 | 983024 naughtius maximus
naughtius maximus's picture

Bouillon bitchez! As in soup bouillon, chicken, beef and ham!!!

Mon, 02/21/2011 - 11:17 | 981552 Harmonious_Diss...
Harmonious_Dissonance's picture

Long, Deep, and Wide

Mon, 02/21/2011 - 13:41 | 982077 Broken_Trades
Broken_Trades's picture

Shell is also evac along with service companies.

Friend in country told me yesterday civilians are armed and running their own checkpoints in suburbs of Tripoli.



Mon, 02/21/2011 - 10:17 | 981405 Dadoomsayer
Dadoomsayer's picture

short answer is yes.

Mon, 02/21/2011 - 13:39 | 982063 The Third Man
The Third Man's picture

Drudge is reporting that protesters in Libya are under attack from Libyan Air Force!

Mon, 02/21/2011 - 13:47 | 982098 JR
JR's picture

In a revolution the military can split; I wouldn’t be surprised if the military splits. Gaddafi’s son said last night there is going to be civil war…

Mon, 02/21/2011 - 14:14 | 982198 tonyw
tonyw's picture

Two fighter pilots have defected to Malta and claiming asylum, said they refused to bomb their own people.


Mon, 02/21/2011 - 14:29 | 982241 snowball777
snowball777's picture


Mon, 02/21/2011 - 16:56 | 982739 JR
JR's picture

Libya spokesmen today are saying that civil war is very unlikely since Libyans are not prone to fire on each other.  So far, much of the street violence has come from black African mercenaries brought in by the Gaddafis to attack the protesters.

The only difference is the military may be fighting within itself.  And there have even been reports of air attacks on military installations.

Mon, 02/21/2011 - 11:34 | 981612 caconhma
caconhma's picture

Libyan events are very troublesome for the USA, CIA, and Israel.

These events clearly show that masses are ready to take challenges and transform a "peaceful" revolution into a real one with lots of blood for the Arabs ruling elite and military establishment.

Mon, 02/21/2011 - 14:02 | 982157 JR
JR's picture

The situation is as simple as putting tinker toys together.

First you have the world’s superpower with a military budget larger than the military budgets of the next 14 nations in line, and next its two closest pals -- Israel which in reality dominates American foreign policy, and the corporate oil industry operated almost completely by investment bankers. 

Is there any doubt that dictatorships such as Gaddafi’s in Libya are armed to the teeth and allowed to pursue their objectives to enslave their peoples as long as they are “correct” on Israel and keep the BP oil flowing?

Mon, 02/21/2011 - 14:36 | 982263 plongka10
plongka10's picture

Must try harder on the BP smears.

Mon, 02/21/2011 - 16:35 | 982661 JR
JR's picture

More smears for BP?

Is this the biggest softball question in history? So many smears to choose, so little time and space.

Perhaps the sad tale of Iraqi citizens would suffice for a beginning :

You’ll recall that BP was part of the consortium that gained control over all of Iraqi oil in the 1930s.  The country was occupied by Britain, and British-installed puppet King Faisal was able to give most of the oil revenue to the companies along with complete control over decision making.

The terms, of course, outlasted the occupation and even though successive Iraqi governments tried to change the unfair terms, the struggle only gave Iraqis’ national control between 1972 and 1975. 

Perhaps you’ve heard the story of Tony Blair’s backstabbing of the British people to link arms with the Bushes and Colin Powell’s phony evidence to assault even again the world’s second largest oil reserve country.

The British Empire and its colonialism might have been collapsing and the Empire and the fortunes of BP might have been facing even more difficult times save for the hundreds of thousands of dead Iraqi villagers who seem to bring the worst memories of the Empire back into the headlines.

Mon, 02/21/2011 - 12:35 | 981773 covert
covert's picture

off topic:

someone asked the intelligent question essentually of:

when will the market top out?

as the market rises, the fed funds rate increases until it reached 3%, 6 to 8 months after, the market begins to fall.

historically, it is how it usually works. this pattern excludes covert market influences.


Mon, 02/21/2011 - 08:54 | 981197 Twindrives
Twindrives's picture

Way to go Ben!   Your the man! 

Mon, 02/21/2011 - 10:05 | 981364 SteveNYC
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"One of Muammar Gaddafi's sons said the veteran leader would fight the popular revolt that has shaken his 40-year rule until "the last man standing."

A very, very ill species has overcome this planet. I wonder how nature will deal with it.....

Mon, 02/21/2011 - 10:09 | 981378 chubbar
chubbar's picture


"In an old townhouse in East Boston an elderly stooped man is tending rare orchids in his shabby office. His Labrador Sally lies on the floor between stacks of academic papers watching him as he shuffles past.

This is Dr Gene Sharp the man now credited with the strategy behind the toppling of the Egyptian government.

Gene Sharp is the world's foremost expert on non-violent revolution. His work has been translated into more than 30 languages, his books slipped across borders and hidden from secret policemen all over the world."

Mon, 02/21/2011 - 10:42 | 981463 amarshall
amarshall's picture

There are no townhouses in East Boston.

Mon, 02/21/2011 - 10:44 | 981470 Don Birnam
Don Birnam's picture

You took the words right off my keyboard. 

Mon, 02/21/2011 - 12:03 | 981684 sschu
sschu's picture

... non-violent revolution ....

And hundreds dead.




Mon, 02/21/2011 - 12:07 | 981700 snowball777
snowball777's picture

Compare and contrast Egypt et al with say...Le Terreur or a typical junta.

It's non-violent from the perspective of those petitioning for change of leadership.

Mon, 02/21/2011 - 08:54 | 981199 breezer1
breezer1's picture

those are not crows. 

Mon, 02/21/2011 - 10:35 | 981449 jeff montanye
jeff montanye's picture

they just look like them because they are still far away from us (but not as far as they once were).  cue neil: big birds flying across the sky, throwing shadows on our eyes.  however hope we're not completely helpless.

Mon, 02/21/2011 - 12:09 | 981705 snowball777
snowball777's picture

Sure they are...they're just flocking in swan formation! ;)

Mon, 02/21/2011 - 08:58 | 981202 hugovanderbubble
hugovanderbubble's picture

For Zero Hedge:

Tyler very Important try to find the last LAFICO /SWF report.... (companies will be affected by the Shutdown in Libya´s agreements"


Biggest Spanish Exposed companies to North Africa:








7.Tecnicas Reunidas


Banco Santander has been leading syndicate in many loans in the area....Risk of default evident....


Italy CDS rocketing


*Silver Rocketing 3 $ in just 10 hours....

*Gold at highs...

* Sell off coming guys...

Mon, 02/21/2011 - 08:56 | 981204 indya
indya's picture

Ohh boy..Liberate Libya for you

Mon, 02/21/2011 - 08:57 | 981206 Monkey Craig
Monkey Craig's picture


Waha Concession 
Operator: Waha Oil Co., a wholly owned subsidiary of Libyan National Oil Corp.
Co-venturers: Libyan National Oil Corp. (59.2%), ConocoPhillips (16.3%), Marathon (16.3%), Hess (8.2%)

The Waha concession, made up of multiple concessions, currently produces approximately 350 gross MBOED and encompasses nearly 13 million gross acres in the Sirte Basin. The concessions are valid for an additional 21 to 25 years. Four major growth projects that are under development by the co-venturers include Faregh II, North Gialo, NC-98 and Dahra-Jofra.

Mon, 02/21/2011 - 08:59 | 981210 The Axe
The Axe's picture

Correct....silver and gold and oil   up up   but the HFT droids will take the US equity market higher...of course this is all good for US equity markets...even higher rates..higher oil  all good..It shows a improving economy......fucking joke...

Mon, 02/21/2011 - 11:00 | 981494 Zero Govt
Zero Govt's picture

you're depressed??? ..think of poor BP that bolted a mass-murderer from Scottish jail to get in with sweetners in Libya ...all those months 'investing' in corrupting the governing Labour Party gone to waste in the space of a week!!! 

Mon, 02/21/2011 - 12:09 | 981709 snowball777
snowball777's picture

I'm sure some of that blood money got into their economy somewhere.

Mon, 02/21/2011 - 13:18 | 981950 Phlash
Phlash's picture

The fact that Al Megrahi had nothing to do with it is academic I guess..

Mon, 02/21/2011 - 13:40 | 982070 Zero Govt
Zero Govt's picture


I suggest you take that up with the British courts. In the meantime he's still a convicted mass-murderer who was released for 'health reasons' (ill-health and impending death) yet remains in rude good health and still alive. 

His pitiful walk to the plane was a stark contrast to the more sprightly walk he made coming off it... weird one eh?

Mon, 02/21/2011 - 09:00 | 981212 Snidley Whipsnae
Snidley Whipsnae's picture

I see not one black swan coming over the horizon but a gaggle of them...oh wait, gaggle is geese...what is a flock of black swans called?

Mon, 02/21/2011 - 09:03 | 981224 cossack55
cossack55's picture

Federal Reserve

Mon, 02/21/2011 - 09:29 | 981278 43 Steelie
43 Steelie's picture

Touche my man, touche.

Mon, 02/21/2011 - 11:19 | 981556 tsx500
tsx500's picture

bingo !

Mon, 02/21/2011 - 13:03 | 981892 Pool Shark
Pool Shark's picture

Well played sir

[golf clap]

Mon, 02/21/2011 - 09:08 | 981236 They_Live
They_Live's picture


Mon, 02/21/2011 - 09:11 | 981241 Snidley Whipsnae
Snidley Whipsnae's picture

Coss55, TheyLive... I like your style. +++++

Mon, 02/21/2011 - 09:18 | 981259 cossack55
cossack55's picture

I'll have to concede to They Live (great movie BTW).  Much funnier thinking cap this AM.

Mon, 02/21/2011 - 09:49 | 981328 buzzsaw99
buzzsaw99's picture

all outta bubba gum

Mon, 02/21/2011 - 10:07 | 981369 SteveNYC
SteveNYC's picture

Who would have thought "Rowdy" Roddy Piper would have starred in a movie as meaningful and prescient as "They Live"??? Quite amazing, if you haven't seen it, I recommend you do so.

Mon, 02/21/2011 - 11:10 | 981523 Thomas
Thomas's picture

An 80-car quack-up.

Mon, 02/21/2011 - 11:28 | 981596 RichardENixon
RichardENixon's picture

Piper's a good actor. His "heel" performances in the WWF around the time of Wrestlemania I have never been equalled. Hilarious stuff.

Mon, 02/21/2011 - 11:47 | 981633 thetruth
thetruth's picture

haha, haven't heard of that guy in years!  underrated

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