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WTI Back Over $102 As Rebel Council Chief Vows "Victory Or Death", Foreign Journalist Moves In Libya Restricted Ahead Of Clashes

Tyler Durden's picture





 

It seems the ridiculous Chavez intervention meme is now dead and buried, and WTI is promptly back over $102 following a statement from the head of Libya's rebel National Libyan Council opposing the rule of Muammar Gaddafi who on Friday vowed: "Victory or death."  "We are people who fight, we don't surrender. Victory or death. We will not stop till we liberate all this country ... The time of hypocrisy is over," ex-justice minister Mustafa Abdel Jalil told cheering crowds in Al Badiya. "Libya is free and Gaddafi must go", the crowds chanted. Elsewhere in Tripoli, residents expected protests after opponents of Libyan leader Muammar Gaddafi prepared to march in the capital after prayers on Friday and they were expecting government forces to respond with a violent crackdown. "We do not have any weapons. We will go to the mosque and then say Gaddafi should leave," said Mohammed, a resident in the Tripoli district of Tajoura where clashes took place last week. "They (pro-Gaddafi militias) will attack." That is likely, which also means that the US, courtesy of a rapidly approaching aircraft carrier, will proceed with previously cleared military evacuations, anticipating a provocation of their own, which would then be used a pretext for an all out invasion. "Several residents of Tripoli have said they are planning to protest against Gaddafi when they leave their mosques after Friday prayers, at about 1300 GMT." Which is 8 am Eastern, meaning that the newsflow of an escalation in crackdown and death will begin some time after the NFP announcement.

From Reuters:

Residents said they anticipate a violent crackdown by armed pro-Gaddafi militias, who have been roaming the city in civilian cars and with scarves wrapped around their heads.

Yousef Shagan, a spokesman for the anti-Gaddafi rebels holding the town of Zawiyah, said the two sides were exchanging fire on the outskirts of the town, and that two fighters loyal to Gaddafi had been killed.

"They attacked because they are trying to prevent people from joining Friday prayers. Gaddafi's soldiers are fighting. Our people have encircled them in western Zawiyah," he said by telephone.

Friday is the day of religious observance in the Muslim world when thousands of men assemble in the mosques to pray and listen to sermons. It can also be a flashpoint for outpourings of anger.

Last Friday, several thousand anti-Gaddafi protesters came out into the streets after prayers. Armed security forces broke up the protests, and there were unconfirmed reports from witnesses that protesters were shot dead.

As for journalists who had been previously allowed into the country with full "liberty" to frolic around, that liberty has now been revoked, courtesy of a hallucinogenic spreading Al Qaeda:

 A Libyan government spokesman said journalists' movements were being restricted because their presence could trigger violence from what he described as affiliates of al Qaeda.

"These are exceptional circumstances. I know you're going to talk about it and twist it the way you want," said the spokesman, Mussa Ibrahim.

"We are preparing to pay this price of preventing you guys from reporting to avoid turning Tripoli into Baghdad.

And with no Al Jazeera reporting, look for slightly delayed YouTube clips to be all the reporting rage once again.

 


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Fri, 03/04/2011 - 08:21 | Link to Comment Azannoth
Azannoth's picture

Time for a 'Gulf of Tonkin Incident #2'

Fri, 03/04/2011 - 09:59 | Link to Comment financeguru500
financeguru500's picture

Why in the world would anyone follow Gadaffi? He is vowing "victory or death" and that he will "Liberate the country".

I think he has had the past 40 years of him leading the country to liberate it. Seems like now that the majority don't like him he's more than likely paying off whoever will stick with him to fight.

Fri, 03/04/2011 - 10:27 | Link to Comment LowProfile
LowProfile's picture

Some followed him for years because it served them and now have nowhere else to go, or else they think they can pull off a 'Hail Mary'.

Fri, 03/04/2011 - 08:22 | Link to Comment TradingJoe
TradingJoe's picture

Hah, i'm the guy who "told you so"!

Fri, 03/04/2011 - 08:34 | Link to Comment pendragon
pendragon's picture

equities are completely ignoring the price of crude now. that was oh so last week. the attention span of the average stock investor makes a goldfish look good

Fri, 03/04/2011 - 08:35 | Link to Comment Cdad
Cdad's picture

Well....time for a government intervention then, I guess...both in the air over Tripoli, and at the Strategic Petroleum Reserve where Timmay has already promised to release reserves if needed.  Never mind that there is so much oil in Texas that there is no place to release it to.

What a mess...the new normal.

Fri, 03/04/2011 - 09:02 | Link to Comment buzzard
buzzard's picture

Talk about hallucinagenic...?

Fri, 03/04/2011 - 08:39 | Link to Comment Blankman
Blankman's picture

Whenever there is trouble you can bet al Qaeda is involved. Worldwide dicatators agree 5 to 1 that the best way to scare your population nowadays is to use the term al Qaeda.

What a load of shit.

Fri, 03/04/2011 - 09:19 | Link to Comment snowball777
snowball777's picture

Al Qaeda you say....do they have benefits?

Fri, 03/04/2011 - 09:46 | Link to Comment Blankman
Blankman's picture

Sure, million dollar grants from .gov and the such.

Fri, 03/04/2011 - 08:41 | Link to Comment LMAO
LMAO's picture

Well, you can only but admire Gaddafis' stamina.

I saw a few interviews with him with the global press and I must conclude that he portrays himself as a hands-on, down-to-earth, well-balanced guy who is in touch with reality and surely seems to know what he is talking about.

He kind of reminds me, in so many ways, of another "Great One" that currently wanders, I mean squanders, the earth. The parallels to Banana Chairsatan Ben are extraordinary.

 

LMAO

Fri, 03/04/2011 - 08:47 | Link to Comment johnQpublic
johnQpublic's picture

fabled enemies

funny that an arab nation would use our own boogeyman as an excuse to do a different version of exactly what we are doing in iraq and afghanistan

you just know our leaders would love to come out and say he's(bin (cia asset) laden) long dead, and was never a threat anyway, but they cant

qaddaffi uttering its name is the epitome of farcical irony

 

19 men with boxcutters have invaded our nation and.....news at 11

Fri, 03/04/2011 - 09:09 | Link to Comment Azannoth
Azannoth's picture

The CiA should just patent the term 'Al Queda' and be done with it

Rule #1 You shal not have other boogeyman before 'Al Queda'

Rule #2 Don't use the name of the boogeyman in vain

Fri, 03/04/2011 - 09:19 | Link to Comment Jessica6
Jessica6's picture

As far back as the 90s I suspected Bin Laden was 'Goldstein' from 1984. For some people in government that book seem to be an operations manual.

Fri, 03/04/2011 - 08:50 | Link to Comment Shocker
Shocker's picture

I'm just waiting to see how they can spin $5 gas is good for the economy. Maybe the recovery is that strong?

Fri, 03/04/2011 - 08:51 | Link to Comment spanish inquisition
spanish inquisition's picture

Chavez rumor, that was me again, the first rumor was just to get on the right side of the trade last week. Well, the price keeps going up and you really don't make enough. Now, if I position myself and put out crazy rumors in a panicky market = profit.

That aside, is Obama going to save BP's ass again? First the gulf of Mexico and now Libya, I think their ROI with campaign contributions will put them into a solid 2nd place behind wall street. I mean theoretical ROI, because we all know there is no quid pro quo with campaign contributrions.

Fri, 03/04/2011 - 08:58 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

BP Plc, whose Macondo well blowout in the Gulf of Mexico caused the worst offshore oil spill in U.S. history last year, co-owns the well that was granted the first deepwater drilling permit since the disaster.

BP is Noble Energy Inc's partner in the well, holding a 46.5 percent interest, BP said.

Noble operates the Santiago well that received a permit from U.S. regulators on Monday to resume drilling in the Mississippi Canyon area of the Gulf, about 70 miles (110 km) south of the Louisiana coast.

http://uk.news.yahoo.com/22/20110301/tbs-uk-gulf-oil-usa-permit-9c49c44.html

 

Fri, 03/04/2011 - 09:21 | Link to Comment snowball777
snowball777's picture

Can you find ANY wells that aren't at least 20% owned by BP in the Gulf? The upside of hegemony: you never have to walk far to stick it to the man.

Fri, 03/04/2011 - 09:23 | Link to Comment Blankman
Blankman's picture

Well they should be rewarded with another deep water permit. They did a smashing job of cleaning up the first well blow out now our .gov has plenty of confidence in them to clean up another mess should it be needed. Remember, Corexit has the same chemical make up as bath tub fizzies and is not harmful to you in any way.. yet.

Fri, 03/04/2011 - 09:25 | Link to Comment Quinvarius
Quinvarius's picture

We must be paying those rebels a lot of scratch to get them to say such things.

Fri, 03/04/2011 - 11:11 | Link to Comment HedgeFundLIVE
HedgeFundLIVE's picture

WTI- calling for shorter term highs of 122 and correction 90.  if you want to see which sectors i would traffic in during oil rallies: http://www.hedgefundlive.com/blog/crude-oil-rally-which-sectors-to-buy-and-stay-away-from

Fri, 03/04/2011 - 12:02 | Link to Comment PulauHantu29
PulauHantu29's picture

I already see $3.65 gas all over the place. My Paki convenience store Buddy down the street says he is not making a profit b/c this is what the gas trucks are charging him. he says his profits come from soft drinks, donuts, etc.

My question is how can people afford those houses in the "suburbs" even if they were zero down with no docs? Everyone has to eat and food prices are rising fast.

 

Mon, 03/07/2011 - 20:41 | Link to Comment lsjcma
lsjcma's picture

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