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Publisher: The Arab Petro-Economic Research Centre
Rihani Press, Beirut
Private cloth binding, 15x21 cm, 274 pages, 1 b/w photo, maps and tables
Good. Corners bent, few traces of usage, inside clean.
The Kingdom of Libya has become a major oil producing and exporting country within a very short space of time. The government's revenue from oil is increasing at such a rapid pace that national planners are often behind in devising sound methods of spending the money.
The 1963 Government's share of oil profits is estimated at £ 33 millions. The 1964 share is likely to jump to £60m.; and in the not too distant future the Country's income will reach the £ 100 million mark. This impressive development in the financial resources of a developing nation will undoubtedly lead to far reaching and unpredictable social and economic changes which merit deep study and careful consideration.
The writer had the honour of serving for two years as assistant economic adviser to the Libyan Petroleum Commission, which has recently been taken over by the Ministry of Petroleum Affairs. On arrival at Benghazi he was rather disappointed to find that there was no worthwhile source of information about the country.
Under these circumstances, the writer took upon himself the difficult task of writing a factual and, it is hoped, unbiased account of the oil industry and economic system of Libya, in an attempt to fill the gap in information on Libya, and as a token of gratitude to the Libyan people for their generosity and indulgence.