Libya's New Face

It is a question facing businessmen across Libya as the prospect of a full-force American return to the country builds. Back in Tripoli, Seif Gaddafi says the conundrum is "very classic," faced by countless developing countries. Then, as with most problems, he finds a reason to dismiss this one. "The story of Libya is different," he says. "We have a strong leadership — that is obvious." And thanks to $20 billion in foreign reserves from the country's existing oil business, Seif goes on, "we don't lack cash. We don't need capital." But Libya does need modern technological know-how and experienced manpower — the kinds of resources that big outside oil firms can provide. "We are strong enough to bargain," says Seif, who knows how valuable his country's crude is to the West. Who will command the upper hand in the negotiations remains to be seen. But with both sides motivated to get the oil pumping, Libya's importance to the world economy, and to America, will only grow.