Libya Political Road Map Advances as Insecurity Persists

Libya achieved an important milestone on the path to political stability on Aug. 30, agreeing to hold presidential and parliamentary elections within two years. But persistent drone strikes on hydrocarbon facilities and supply disruptions caused by social unrest are a worrying trend for the oil industry. In parallel to the UN process is a US-led, transactional approach, combining a push for stability with an investment drive in the oil sector. But analysts and diplomats worry that an elite bargain at any cost between Libya’s rival eastern and western camps could aggravate corruption, undermining the very political stability that Libya desperately needs to stabilize its economy.