Word: oils
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Dates: during 2000-2009
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...other hand saying privately to the Libyans that they wanted him released," said Conservative Party leader David Cameron, calling for an inquiry into the affair. Brown angrily rejected that interpretation of events: "On our part, there was no conspiracy, no cover-up, no double-dealing, no deal on oil, no attempt to instruct Scottish ministers, no private assurances by me to Colonel Gaddafi." (Watch a TIME video with Gordon Brown...
...could discover that cannot be gleaned from the documents, which reveal how Britain's clumsy realpolitik and the ambitions of the nationalist-led Scottish government to assert independence from Westminster led to a messy outcome. On one point at least, conspiracy theorists were wrong: this was never all about oil. Preserving and expanding Britain's commercial interests in Libya was always a part of the equation, but so too was a desire to seal Libya's rehabilitation...
...Straw. But Scottish politicians could not ignore the overlap between Scottish and U.K. interests. Instead, they devised a plan to release al-Megrahi on compassionate grounds, rather than as part of a prisoner-transfer agreement that had been drawn up against their wishes by London and Tripoli. (Read "Was Oil Part of a Deal for the Lockerbie Bomber...
...Gaddafi, the new friendship with Washington has been a smart investment that has paid off handsomely. About 45 Western oil companies now operate in Libya, investing billions each year in exploration and maintenance. "Quite a bit of damage occurred under sanctions because the oil reservoirs were not observed for many, many years," says Thamir Uqaili, a London-based independent oil consultant who spent years working in Libya. "They have caught up now in certain places...
...Three years ago, Gaddafi opted to invest his excess oil revenues in a sovereign wealth fund called the Libyan Investment Authority, which has rocketed in value thanks to soaring oil prices on the world market. The fund has about $65 billion in capital, part of which Libya has used to build five-star resorts in African capitals and to run Afriqiyah Airways, which crisscrosses the Mediterranean to European cities...