BBC World Service

What are the long-term effects of protests in Libya?

Marketplace Contributor Feb 22, 2011
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BBC World Service

What are the long-term effects of protests in Libya?

Marketplace Contributor Feb 22, 2011
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TEXT OF STORY

STEVE CHIOTAKIS: Let’s get a little more perspective on this and dig a little deeper into how long the economic repercussions will last.

The BBC’s Chloe Arnold is with us from Algeria this morning. Hello Chloe.

CHLOE ARNOLD: Hello Steve.

CHIOTAKIS: Is there any suggestion right now that oil production could be hit permanently because of what’s going on in Libya?

ARNOLD: I don’t think people are getting too many jitters just yet because of course, if they do need to increase capacity OPEC is in position to do that. They can simply ask, for example the Saudi Arabians to turn on the oil taps and increase capacity. But certainly if this situation continues, then there are going to be concerns over what might happen generally to oil production.

CHIOTAKIS: Apart from oil and gas, what other industries contribute to the economy of the region there?

ARNOLD: Very little, I have to say. Libya and Algeria, which is of course where I am, are primarily exporters of oil and gas. There’s a tiny amount of date production, and a very very small amount of fisheries as well. I think they export river eel to the European Union. But if we talk about other countries in the region — Morocco, Tunisia, and Egypt — there is an enormous tourism industry. And there’s great concern I think that tourists are just very reluctant to come back. For those countries, there will be concerns for the economy.

CHIOTAKIS: The BBC’s Chloe Arnold with us from Algiers. Chloe, thank you.

ARNOLD: Thank you Steve. Good bye.

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