His nationalist ideas were always opposed to genuine socialism. Political opposition and newspapers are still banned. According to Amnesty International, hundreds of political prisoners and Muslim oppositionists are held in Libyan jails without charge or trial. Oil reserves in Libya are roughly the same as those of the US, around 30 billion barrels or 3 per cent of known world resources. As much as 95 per cent of the country's export earnings are based on the sale of oil products.
Most food is imported and Libya has no inland surface water, and no rail system.
Relations have never been so good with its ex-colonial ruler Italy, which has taken the lion's share of the overseas investment of Libya's oil wealth. Joint ventures between Libya and Italy have been established, investing in the West African textiles industry. Apart from the bonanza for European investors in the oil and gas industry, Gadhaffi is putting billions of dollars worth of contracts out for tender in the development of the infrastructure and armaments. State-owned Libyan Arab Airlines and British Aerospace are negotiating on rebuilding the civil aviation sector. Other contracts are with Russia for MiG 31 interceptor jets, and the possibility of British Aerospace selling military hardware is also being discussed.