The Vagaries of Option Vega
The trouble in Libya is one of those external market shocks that take everyone by surprise. Gaddafi has been in power since he seized it in a 1969 coup. His rule has been similar to most autocrats,
full of hero worship and enmity. The important thing is that his country has been relatively stable for quite a long time. Therefore, the largest oil reserves in Africa and the 9th largest oil
reserves in the world have never been questioned. Additionally, Iran is using the chaos across north Africa to assert their power as a dominant force in the …