52K views · 532 reactions | Oil reserves in #Libya  are among the Top 10 largest oil fields in the world. But who controls Libya's oil fields? 樂 A21 Middle East News | A21 Middle East News | Facebook

Gas is cheap in Libya because the country has massive oil reserves and the government heavily subsidizes fuel prices. Libya produces oil at a low cost and doesn’t add high taxes to it, which keeps prices down for locals. The oil industry is mostly state-controlled, so prices aren’t tied to global markets like in many other countries. These low prices are meant to support citizens and maintain social stability, especially after years of conflict. Ironically, this has led to widespread fuel smuggl

#VantageOnFirstpost: Donald Trump says he wants to keep oil prices low. As the U.S. president renews pressure on Tehran, American oil giants are signalling support. Iran, the world’s sixth-largest oil producer, has the reserves and infrastructure that U.S. companies desire. Industry leaders are openly backing regime change. But history shows the risk: past wars in West Asia—like Iraq and Libya—damaged oil infrastructure and pushed prices higher. | Firstpost

#VantageOnFirstpost: Is Oil Behind Trump’s Threats to Iran? | @palkisharmaupadhyay Donald Trump says he wants to keep oil prices low. As the U.S. president renews pressure on Tehran, American oil giants are signalling support. Iran, the world’s sixth-largest oil producer, has the reserves and infrastructure that U.S. companies desire. Industry leaders are openly backing regime change. But history shows the risk: past wars in West Asia—like Iraq and Libya—damaged oil infrastructure and pushed pri