Quotable: Muammar Qaddafi on oil

From the Mail & Guardian Online:  We don't produce anything. We sell only oil and consume everything," he said, condemning what he said was a consumer society destined for a sorry future when oil finally runs out. "The kind of trade in which you produce nothing and import goods in exchange for oil, it's a ...

From the Mail & Guardian Online: We don't produce anything. We sell only oil and consume everything," he said, condemning what he said was a consumer society destined for a sorry future when oil finally runs out.

From the Mail & Guardian Online

We don't produce anything. We sell only oil and consume everything," he said, condemning what he said was a consumer society destined for a sorry future when oil finally runs out.

"The kind of trade in which you produce nothing and import goods in exchange for oil, it's a catastrophe," the Libyan news agency quoted him as saying. Libya could have become an economic power like Japan were it not "socially backward," he said.

He's not the only one worried about the oil market drying up.

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