Libya Planes Fire Missiles On Oil Facility Port Town Of Brega

Tyler Durden's picture

Update:Fresh Libyan air strike in Brega, bomb explodes next to oil engineering university about 2KM from oil terminal - witness

WTI spikes by $0.70 following reports that a Libya plane has fired two missiles on the town of Brega, which contains a critical oil facility. The fact that Libya is now apparently willing to gamble with its oil infrastructure is precisely the worst case scenario that many have predicted. Stocks, of course, jump on the news too.

A reminder of Brega's signficance:

Port Brega lies at the edge of the area controlled by opposition fighters along the 600-mile coastal highway between Benghazi and Tripoli. The oil and gas complex feeds natural-gas pipelines that supply the energy needs of major eastern cities as well as Tripoli, according to workers at the complex.

If Kadafi's soldiers are in control of the refinery, they could conceivably cut off gas supplies to the east and also deny opposition-controlled areas the gasoline, diesel and heating fuel produced at the Sirte Oil refinery.

The facility has continued to pump crude oil from major oil fields in the southern desert, sending it to Europe through a terminal at Port Brega. Western governments have frozen Libya's oil proceeds.

On Monday, both the city of Port Brega and the oil facility were lightly guarded, with only four men armed among the 15 to 20 young rebels lounging at the rebels' westernmost highway checkpoint, near the oil company's main gate.

More as we see it.

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Dr. Porkchop's picture

..and so it begins.

jus_lite_reading's picture

Just wait until the day of rage starts in S.A... I wonder if Bush will be heading there for talks with his buddies?

SheepDog-One's picture

Bush cant travel outside the US, too many arrest warrants outstanding.

nonclaim's picture

Here's hope the same will happen to the nobel peace prize winner...

ATG's picture

False Flag PsyOp?

RT reported no satellite evidence of reports of Qaddafi air force attacks on civilians

http://www.infowars.com/russian-military-claims-libya-air-strikes-did-no...

Paul Craig Roberts, former Deputy Secty of Treasury under Reagan, suggested unfriendly ME revolutionary governments would strengthen dollar as US withdraws troops (and turns to domestic oil)

http://www.infowars.com/the-perfidy-of-government-evidence-v-denial/print/

Ron & Rand Paul or Michelle Bachmann in 2012

Guy Fawkes Mulder's picture

Here's hope the same will happen to the nobel peace prize winner...

Prediction:

W becomes a Nobel Peace Prize winner.

tonyw's picture

Let me reply to your incisive post. ONE aircraft managed to hit some sand with ONE missile/bomb - now this tells me that the Libyan airforce is unable to mount a significant strike, IMHO it shows either they have very few operational planes and/or few pilots they can rely on to bomb their own countrymen. It may well be that the pilot deliberately missed but did he have only one bomb?

Edit: at Brega there are many large oil tanks so not a difficult job to hit them.

jus_lite_reading's picture

I was just going to comment that WWIII is breaking out in the M.E. and stocks are rallying.

jus_lite_reading's picture

Does Goldman's Jim Oneil think that WWIII is also "bullish" for the economy. Another GREEN SHOOT-

*Oil at unsustainable levels

*WWIII begins today and spreading fast

*Social unrest in the US very high

*Financial system on verge of total meltdown

*add more if you want... there's dozens today to give reason to RALLY THE FUCKING MARKETS!

Dr. Porkchop's picture

I would say that the ME is a precursor to WWIII, because a real war requires two actual armies of significant size to battle each other. Nobody in the ME has a real professional army of any size. The real WWIII begins when things heat up with China or Russia, or whoever.

John McCloy's picture

Ooo.. I also heard Congress used to once declare wars.

SWRichmond's picture

Yes, but it turned out to be so hard to do that....

Mad Max's picture

Yeah, but it wasn't fast and efficient, it hindered business.  Much like the ancient custom of recording property ownership and mortgages in a detailed written log kept at a government office nearby the relevant property.

Just tell me how I can securitize war and sell AAAAA tranches many times over to suckers, I can make my $1x10^18 nut and go live on Mars or something.

jmc8888's picture

With a private plastic sub-orbital toy(see Virgin). Yeah Spaceship 1 and 2.  They look iike it, literally (1st and 2nd ever). 

But then again, they might think once we got there, we'd change the Martian climate and make it warmer.  The C02 would hurt the biosphere of Mars.  We just don't have the right to terraform a planet. 

At some point, the banksters idiocy, comes full circle. But then again, they don't believe in it either, they just want US to.

Nacho.Libre's picture

Once upon a time... If they were looking for someone, the can try Russia..

 

http://news.yahoo.com/s/csm/20110228/wl_csm/366331

 

SheepDog-One's picture

Its not 1930 anymore, today wars are carried out thru computer servers.

Hexus's picture

We all wish that was true.

JW n FL's picture

Educating the people is the "War"... it is the only "War" that we have to Win or we all will lose.

 

Without a broad knowledge of the Treacherous Acts Committed by the Bankers / Wall Street, The Lobby and then our Federal Government that Protects the Lobby and thusly the Bankers / Wall Street.. then we all are doomed to repeat the past over and over and over and over and over to InfiniTimmy and Beyond.

 

K.I.S.S. when speaking to others and try to get them interested in the Facts. Otherwise, once again.. we are all doomed to repeat the past. (and by all I mean your kids, Grand Kids, Great to Infitnity Grand Kids.)

ft65's picture

Quoting JW n FL / GLP ^TrInIty^

>> K.I.S.S. when speaking to others and try to get them interested in the Facts.

>> Otherwise, once again.. we are all doomed to repeat the past.

>>(and by all I mean your kids, Grand Kids, Great to Infitnity Grand Kids.)

Do you really think it will last another 10 years, let alone another generation? You are as bonkers as your wo-wo forum.

Crassus's picture

It's pretty 1880 over here.

Oh regional Indian's picture

India, good old, non-aligned India has suddenly been growing a pair off late, witha little help from the CCOTUSSA. Arms (of every kind, I think India will be getting the F-18, so weird, till yesterday they were pakistan's best friend), technology (a whole lot of military grade tech. is now available to Indian companies), awards (Oscars and grammy's galore), sports (NBA is a  much followed league here as an example, two indian's playing in the minor leagues???)...

So yes, we are heavily involved overtly and covertly in Afghanistan, Pakistan for sure. We'll take a stab at doing somethign really dirty now.

Ready and willing, for God and Oil.

ORI

http://aadivaahan.wordpress.com/2011/03/01/on-outsourcing-and-its-ills/

SDRII's picture

As Gates said this weekend of another land commitment - a future SECDEF "would need to have his head examined." So if not ME, then where?

NotApplicable's picture

Nah, that is old-school thinking, because as you note, it requires two armies.

That's why they invented the GWoT, so they always have a shadowy terrorist to hunt down.

My guess is that the only conventional war left is the Koreas.

Dr. Porkchop's picture

Maybe that's what we need. A good old fashioned, boots on the ground, punch 'em in the face ground war. Something easy to depict on the propaganda posters.

jtmo3's picture

In todays world I would have no problem believing stocks would go up if a nuke went of in the ME.

jus_lite_reading's picture

Nat Geo is running an article stating that Carl Sagan says a "limited nuclear war" wold be good for the earth and global warming. I shit you not.

Eager learner's picture

Really? Here is the article. http://news.nationalgeographic.com/news/2011/02/110223-nuclear-war-winte...

Where is Carl Sagan’s name on this? You know he’s been dead for 15 years right?.  And where does it state that it would be good for the earth?

The article starts: “Even a regional nuclear war could spark "unprecedented" global cooling and reduce rainfall for years, according to U.S. government computer models.

Widespread famine and disease would likely follow, experts speculate.”

Pays to actually read something before you post about it dude. Though I agree the article’s title “Small Nuclear War Could Reverse Global Warming for Years” is a poor editorial choice and completely misrepresents the study it’s reporting on.

jus_lite_reading's picture

I admit, I did not read the article but the HEADLINE says it all. Also, Carl Sagan was the one who originally initiated the study in the early 80's and that is when they first began to publish this theory. Whatever the case, headlines grab attention and make you wonder...

AnAnonymous's picture

Whatever the case, headlines grab attention and make you wonder...

 

Headline are supposed to do so.

And with the age of Internet information, expect any headline to misrepresent the content of the article as it is all about generating traffic.

People want to attract viewers on their Internet page, especially journalists as they are paid in relation to the number of viewers they attract.

The Internet is a bed of disinformation.

Randall Cabot's picture

I imagine nuclear winter would be good for global warming.

SheepDog-One's picture

DOW up 30 after near 200 point drubbing yesterday. Looks like its only a function of todays monkeystomping of the dollar.

AZSovreign's picture

There goes my 10c discount on gas at Safeway...

Dick Darlington's picture

New safe havens, stocks and spanish government bonds. Seems that the worse the quality the better the performance. Congrats to chair creature, what a wonderful world. Lulz!

hugovanderbubble's picture

Tyler

Watch Out Algerie ; Oran (GAS Pipeline).Sonatrach and Medgaz

 

Sarkozy is scaried with BUTTERFLIKER

 

GEt long US GAS producers, Europe will need to buy LNG cos Algerie Shutdown Shortage.

 

Spanish Exposure to Algerie:

Espero te sirva, El servicio Secreto Francés está negociando en Orán evitar el cierre de los gaseoductos ...(ALERT)

  El mas afectado con diferencia es Gas natural fenosa, ya que aproximadamente la cuarta parte del gas de la compañía se importa desde argelia. 

En mucha menor medida se ven afectadas endesa e iberdrola, que compran gas a GNF que a su vez viene de Argelia (teniendo en cuenta el tamaño de la compañía, el efecto en iberdrola y endesa sería muy muy pequeño). 
 
El efecto podría ser compensado trayendo gas de otros sitios, teniendo en cuenta que hay capacidad excedentaria en las plantas de regasificación de españa y que a nivel mundial sobra gas. Eso si, la logística se complicaría porque aunque haya gas y capacidad, habría que buscar el gas y los metaneros para traerlo (de Argelia se trae gas por gasoducto, y temporalmente si que podría haber algún problema para lograr cuadrar una sustitución total). De algunos países no sé está trayendo el 100% del gas contratado sino algo menos sin llegar a incurrir en take or pay, así que se puede traer mas gas sin problemas (algunas compañías de otros países si están llegando a incurrir en take or pay).
 
Además hay varias compañías que se verían afectadas por gas que eventualmente podrían traer a futuro pero a que a día de hoy aún no traian: el gasoducto medgaz está apunto de inaugurarse, e iberdrola (20%), endesa (12%) y cepsa (20%) tendrían la opción de traer gas como accionistas que son (son accionistas del gasoducto pero también tienen contratos de gas relacionados).
 
Cepsa creo que también se vería afectada porque tenía actividades de exploración en argelia, pero no sé si producen gas ni si mucho o poco.
 
Hugo Peterssen
 
Analista Independiente,

A way to play this is get long Tankers and US GAS producers as they are the natural alternative providers.
rwe2late's picture

 Libya has huge gas and oil reserves that are considered “vitally” important, especially to Europe. The usual financial vampire suspects have been active in Libya. But so also has China. The US would be happy to muscle in against the Chinese, especially with the added prospect of gaining control over the Trans-Saharan gas pipeline from Nigeria to Algeria, expected online in 2015.

G-Daffy, like Mubarak, is no saint. Nonetheless, to say inflammatory propaganda never happens is foolish. Examples are the Kaiser’s troops allegedly bayoneting Belgian babies, Iraqi soldiers murdering Kuwaiti infants, and “mushroom clouds”.

No major disruption of Libya’s oil supply would long be tolerated. Covert Western military activity is already occurring. But overt military action requires a “humanitarian” face in order to downplay the less idealistic motivations.

Many have called for G-Daffy, who has never been considered too “reliable” anyhow, to abdicate. The only way G-Daffy can reverse their demand would be to re-impose his control over Libya, currently a doubtful prospect. Failing that, G-Daffy holding out only makes increased intervention more likely.

The Western (NATO) powers appear determined to opportunistically make Libya more “secure“. G-Daffy, like others from Noriega to Saddam, has outlived his usefulness.

Israeli sources reported on 2-25-2011:

“Hundreds of US, British and French military advisers have arrived in Cyrenaica, Libya's eastern breakaway province.”http://www.debka.com/article/20708/

 

Russian Military Says (previous) Libyan Airstrikes Did Not Take Placehttp://tv.globalresearch.ca/2011/03/russian-military-says-libyan-airstrikes-did-not-take-place

 

Robert-Paulson's picture

Forgive my ignorance, but can someone explain to me how the DJIA, S&P, and NASDAQ are up???

 

Asian markets took a bath last night, US federal government is weeks from shutting down all non-essential services, dollar is in the tubes, foreclosures are still rampant, unemployment continues to climb, etc, etc.

 

There isn't a single positive sign anywhere...Yet, the market continues to stay afloat.

 

Are people that fucking stupid?  (rhetorical)

SheepDog-One's picture

Nah just a side effect of the tremendous hammering the dollar is getting today, and its not even keeping pace with DOW up a weak 30. Snoozer.

clones2's picture

Give it a little time... :) 

Many large cap names have rolled over under their 50DMA's... take a look at the larger banks and others like copper and steel.  The last several sessions in the market have had some strong conviction selling days.

The market is getting weaker by the day and I believe will slowly consolidate around its 50 dma before a more significant pullback...

No strong bounce today after yesterday is telling...

 

 

alter ego's picture

Why the market is up?

Because The Plunge Protection Team (PPT) is

acting as we speak.

That's the reason

Guy Fawkes Mulder's picture

"Treasury burned $33.7 billion from operations today, net of debt change"

http://twitter.com/zerohedge/status/43055450178076672

pslater's picture

"Forgive my ignorance, but can someone explain to me how the DJIA, S&P, and NASDAQ are up???"

It's just another POMO day.  The Fed buys bonds issued just days ago by the Treasury.  The Fed then has its proxy JPM buy the S&P 'ES' futures and presto the market goes up because there are almost NO other buyers.  Sound sustainable to you?  Me neither.

AndrewJackson's picture

So how long before, the US invades Libya to "protect democracy"?

dick cheneys ghost's picture

Gaddafi to replace western banks, oil firms and other companies with chinese, russian, indian and brazilian ones........dont mess with the fortune 500....

 

http://nakedempire.wordpress.com/

Josh Randall's picture

(Oil terminal explodes)

Bud Davis: "...Uncle BOB!"

Flakmeister's picture

Here is a link that summarize why Libyan is important in a way that most people here fail to grasp... Mind you, knowing technical details of refining is not up everyones alley

http://www.theoildrum.com/node/7550#comment-771278

Oil is not plug and play vis a vis refineries...