Libya is on the brink of a Civil War, and America’s major concern is the supply of oil.
With the discovery of oil in the 1950s, Libya has grown to currently hold one of the top 10 positions for richest oil producing countries.
The price of oil jumped to almost $100 a barrel last Monday due to the protests taking place within the country. These political upheavals have caused an impact on Libya’s crude output.
Tension in the country is high due to rising unemployment rates and the corruption of dictator, Moammar Gadhafi. Not only do the Libyan people want him to step down, but so do the United Nations, the U.S. and the UK.
President Barack Obama and Secretary of State Hilary Rodham Clinton have both stated that Gadhafi needs to leave.
Even though Gadhafi is facing issues with politicians and Libyans, he also has armed forces that have stayed very loyal to him.
Not only is the economy suffering from the Libyan politics, but from the American oil companies that have been working to get their staff out of the country.
It is too soon to say what exactly will take place in the African country, but without resolution soon, not only will the Libyan people be affected, but so will countries depending on Libyan oil.