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Libya Declares Force Majeure On Oil Exports Of 1.5 Million Barrels A Day

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Tue, 02/22/2011 - 12:37 | 985530 UninterestedObserver
UninterestedObserver's picture

This must be bullish Leo said said so

Tue, 02/22/2011 - 14:02 | 985871 Malcolm Tucker
Malcolm Tucker's picture

Report: Ukranian mercenaries flying the MiG's that are bombing Tripoli and support from Italian Mafia:


Tue, 02/22/2011 - 14:19 | 985922 Problem Is
Problem Is's picture

+1... Nice news tip, thanks.

Tue, 02/22/2011 - 15:39 | 986132 Dismal Scientist
Dismal Scientist's picture

He is of course barking mad, Gadaffi. But he has a sense of style...


Wed, 02/23/2011 - 00:47 | 987618 StychoKiller
StychoKiller's picture

LOL-LMFAO!! In that first pic, everyone besides Kaddafi and the older black guy to his left are looking down at their shoes:  "We don't know this guy!"

Black guy to cameraman:  "I hate you for roping me into this pic!"

Kaddafi:  "Does it look like I put mousse on my hair?"

The clothes do make the man -- but a good comb could only help this guy! :>D

Tue, 02/22/2011 - 12:40 | 985533 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Oil war, bitchavezes!

Tue, 02/22/2011 - 12:45 | 985568 TeamAmerica
TeamAmerica's picture

Looks like the Italians will need to venture back into Africa.   Didn't work out so well for them last time...

Tue, 02/22/2011 - 13:09 | 985656 tj3
tj3's picture

...but this time, (...), teh Italians, we be liberators; not the empire of a madman's foolish, foolish desire. Not that they would want too but like the USA those that think they know (delicious unbridled power) would push the indescribable need.

Tue, 02/22/2011 - 13:26 | 985758 Ted K
Ted K's picture

uh, can I get a blow-up pic of that ass????

Tue, 02/22/2011 - 13:52 | 985842 tj3
tj3's picture

Wish I could oblige you.

Tue, 02/22/2011 - 13:52 | 985839 dick cheneys ghost
dick cheneys ghost's picture

British Prime Minister says "West was wrong to back dictators"



Tue, 02/22/2011 - 14:07 | 985892 Hephasteus
Hephasteus's picture

Nothing a complete slaughter of the IMF and cia and MI6 wouldn't fix.

Tue, 02/22/2011 - 14:35 | 985962 Hephasteus
Hephasteus's picture

Haha. Department of Energy wants in my computer.

Tue, 02/22/2011 - 12:39 | 985535 the not so migh...
the not so mighty maximiza's picture

will this lead too 5.00 usd per gallon?

Tue, 02/22/2011 - 12:43 | 985555 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


King Dorrar....rures.

Tue, 02/22/2011 - 12:40 | 985538 Cognitive Dissonance
Cognitive Dissonance's picture

I suspect we shall be seeing a lot of "force majeure" over the next few years. Right up until they confiscate Gold because a force majeure took down the dollar.


Tue, 02/22/2011 - 12:53 | 985600 Oh regional Indian
Oh regional Indian's picture

Years CD? Surely you jest.

Months I can buy, but 2011 seems to be th eyear the dollear died.


Tue, 02/22/2011 - 13:05 | 985651 Cognitive Dissonance
Cognitive Dissonance's picture

I suspect this will play out in stages and over a much longer period of time that you think. When so many people, corporations and nations depend upon any one thing, that "thing" will be supported long past its expiration date out of desperation.

The dollar has "value" only in relation to other currencies. And a currency is another word for a belief system. When our belief system is challenged, rarely do we just let go. Instead we invest even more blood, sweat and tears into it until it collapses into a heap of smoking ruin. History tells us modern man is no different in his attempt to support a failed belief system. I usually bet on history rhyming.

Tue, 02/22/2011 - 13:29 | 985770 Calmyourself
Calmyourself's picture

Exactly the point I made months back.  All the stops will be pulled out, every last one to support this ponzi.  If you think markets make no sense now you have seen nothing yet.

Tue, 02/22/2011 - 14:23 | 985927 Problem Is
Problem Is's picture

So, the Bernank's pants are on fire... he just doesn't smell the smoke yet?

Tue, 02/22/2011 - 13:26 | 985761 A Texan
A Texan's picture

Yeah, but a confiscation of gold under whatever reasoning would run smack into Rule 308.  Further impediments would be offered by Rules 223, 243, 762x39, 30-06, etc.  Force majeure ain't so simple any more, not when some 90 million people know of the above-mentioned rules.

Tue, 02/22/2011 - 13:45 | 985830 Cognitive Dissonance
Cognitive Dissonance's picture

I understand what you are saying. But what makes you think "rules" and "law" will be respected when desperation becomes all they can feel and people are cornered?

I think our biggest blind spot is in thinking that the rule of law, long ago abandoned for the upper class, will finally be respected precisely when it will hurt them the most. They are playing by grade school playground rules.

Make me. I dare you to make me.

Tue, 02/22/2011 - 18:23 | 986630 A Texan
A Texan's picture

Uh, there's no actual "Rule 308."  It is an expression used to convey the idea that millions of Americans, armed with .308 caliber rifles (among many others) can trump any law or Supreme Court ruling.  We will do it because we have the means at hand to do so.  Rule 308 is the American version of the British Rule 303:  http://www.urbandictionary.com/define.php?term=rule%20303

Tue, 02/22/2011 - 14:49 | 986021 TeamAmerica
TeamAmerica's picture

I suspect you misinterpret the meaning of Force Majeure.   It has nothing to do with confiscating anything.

As for the various rules you cite, guys like me respond with rule XM-25 subsection 25mm, which clearly states that you can't hide behind stuff anymore.  I win. :-)

Tue, 02/22/2011 - 18:15 | 986606 A Texan
A Texan's picture

I understand quite well what "Force Majeure" means.  However, the topic of confiscations of PMs came up, so it is that to which I responded.


I also understand what you're saying about Rule XM-25, but you need to understand that there are relatively few copies of that Rule, and they are not so easy to transport to and from distant places where they are needed, whereas Rule 308 and its brethren exist in literally millions of copies and in every part of the country.  I'll give you an example of how a predecessor to Rule 308 was used to defeat a predecessor of Rule XM-25...I believe it was Rule PanzerMark3:

Josif Tito was the leader of the largest Yugoslav partisan army during WW2.  Once he was asked by someone in the press how his men, armed only with old and outdated versions of Rule 7.92, Section 8mm could possibly hope to override the then-new Rule PanzerMark3, as enforced by the German government.  His response is a classic:  "Well, when the Germans have to put aside their new Rule PanzerMark3 to take a piss, my men will pick up their old Rule 7.92, Section 8mm and throw it at them, at high velocity."  [Takes thumb out of cheek].


Seriously, quantity has a quality all its own.  Millions of armed Americans, already distrustful enough of government to have armed themselves and bought PMs to protect their life's labors from the predations of the government will not take too kindly to having those PMs (and the guns, in the bargain) stripped away from them.  I don't know how an armed force of maybe 500,000 combat effectives (and that is probably a gross overestimate) can take on 10 or 20 or 50 million people spread out all over its logistical tail across a continent.  Especially when many were trained quite well by Uncle and will go after those giving the orders (or voting to fund those orders).  It won't, in any conceivable scenario, be pretty - but if upwards of 500,000 people decide to seriously resist, including taking the battle to the fed.gov, there's simply no way that the .gov wins, period.  It'll inflict massive casualties, to be sure, but it will lose.  Kind of like Quackdaffy, armed with modern weapons including an Air Force is about to lose to a bunch of stinky, half-toothless shoe-throwers.

Tue, 02/22/2011 - 13:30 | 985778 amarshall
amarshall's picture

Thank you for wiki

Tue, 02/22/2011 - 12:40 | 985539 arkady
arkady's picture

Interesting that a force majeure clause exists in these contracts, I wonder if that is the cae for all Middle East exporters.

Tue, 02/22/2011 - 12:46 | 985564 Cognitive Dissonance
Cognitive Dissonance's picture

The clause exists in all (international) contracts if the lawyers that approved them are worth more than two cents. It's the great escape clause. Hell, this applies domestically and personally as well. Just look at your car and home insurance contracts for example.

Tue, 02/22/2011 - 12:40 | 985540 Jason T
Jason T's picture

LaRouche on globalization... 



Tue, 02/22/2011 - 12:44 | 985565 TeamAmerica
TeamAmerica's picture

I thought LaDouche was dead!   At least we have his demise to look forward to.

Tue, 02/22/2011 - 12:49 | 985585 Cardinal Fang
Cardinal Fang's picture

Now THAT is funny! thanks for the laugh...

Tue, 02/22/2011 - 12:55 | 985608 disabledvet
disabledvet's picture

"I like you.  You have big balls."

Tue, 02/22/2011 - 13:00 | 985624 scratch_and_sniff
scratch_and_sniff's picture

I heard he shaves them, just sayin.

Tue, 02/22/2011 - 13:12 | 985698 tj3
tj3's picture

When did he get out of jail?

Tue, 02/22/2011 - 14:29 | 985942 Problem Is
Problem Is's picture

"...LaDouche was dead! "

LaDouche... a conservative, wingnut L. Ron Hubbard with his own... err, ah... religion... and fanatic jihadist followers...

Tue, 02/22/2011 - 12:41 | 985541 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Israel about to feel the pinch soon, get your rockets out, you are about to hear some Bullshit spewed out of your Wolf Blitzer report about Hezbollah, and why Israel has the right to defend itself against 'terror'

WTI gogin higher, this is far far from over.


Tue, 02/22/2011 - 12:58 | 985621 Oh regional Indian
Oh regional Indian's picture

While we are on the topic of he's a bull yeah or whosebullahh, check out this report. As if Mexico did not have enough on it's plate already.

5$ gas coming to America. And if the MSM is to be believed, courtesy heez a bull yeah!



Weird eh? Let no crisis go waste. Spray them heezbullyeahs everywhere.



Tue, 02/22/2011 - 13:13 | 985703 jus_lite_reading
jus_lite_reading's picture

Benjamin "Kamikazi" Bernank. And so it begins.

Tue, 02/22/2011 - 14:08 | 985898 Hephasteus
Hephasteus's picture

Benron "The Bernank"

Tue, 02/22/2011 - 12:42 | 985543 buzzsaw99
buzzsaw99's picture

It's a good thing our pipelines don't run in reverse in a crisis for them the way theirs did for us after Katrina. All your oil belongs to us! [bitchez!] signed X: George W. Bush

Tue, 02/22/2011 - 12:40 | 985545 THE DORK OF CORK
THE DORK OF CORK's picture

This is dollar bullish no...

Of course not - that would make sense and markets now do not make sense , its too vulgar.

Euro to 1.45 on this news.

Tue, 02/22/2011 - 12:48 | 985578 buzzsaw99
buzzsaw99's picture

Benocide is your friend. He always buys euro in a crisis situation.

Tue, 02/22/2011 - 13:10 | 985683 THE DORK OF CORK
THE DORK OF CORK's picture

Ben is my friend.......... Ben is my friend...... Ben is my friend........... Ben is my

Tue, 02/22/2011 - 12:42 | 985552 Flakmeister
Flakmeister's picture

Shit, meet fan....

Tue, 02/22/2011 - 12:46 | 985570 Flakmeister
Flakmeister's picture

BTW, great work Tyler.

Tue, 02/22/2011 - 12:46 | 985572 Dr. Porkchop
Dr. Porkchop's picture

It's ok, the Italians don't need that much gas for their Fiat.

Tue, 02/22/2011 - 13:10 | 985630 THE DORK OF CORK
THE DORK OF CORK's picture

Its not just the Italians.

It looks like Nicole will have to get the bus !!!!



Tue, 02/22/2011 - 12:49 | 985581 serotonindumptruck
serotonindumptruck's picture

This is an act of desperation on Qadaffi's part. He's losing his battle to remain dictator, so he'll do his best to destabilize the global economy.

Qadaffi has been ordered to get out of the pool, but not before he's done emptying his bladder and evacuating his bowels.

Tue, 02/22/2011 - 12:54 | 985593 jus_lite_reading
jus_lite_reading's picture

Another reason to buy silver and gold! Buy all you can and watch this corrupt system go down in flames. Global war to end all wars is fast approaching.

Tue, 02/22/2011 - 12:55 | 985604 Atomizer
Atomizer's picture

But the CNBS talking heads told us FTSE MIB was caused by a software bug.


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