Even though Vladimir Putin has already remarked that the high oil prices resulting from the Libyan crisis must be brought under control, it looks like we had better hold onto our hats for a bumpy ride. From Robert Baer at TIME:
There’s been virtually no reliable information coming out of Tripoli, but a source close to the Gaddafi regime I did manage to get hold of told me the already terrible situation in Libya will get much worse. Among other things, Gaddafi has ordered security services to start sabotaging oil facilities. They will start by blowing up several oil pipelines, cutting off flow to Mediterranean ports. The sabotage, according to the insider, is meant to serve as a message to Libya’s rebellious tribes: It’s either me or chaos.