Libya Goes for Broke

Foreign Policy: The country boasts some of the world's largest proven oil reserves, substantial capabilities for natural gas production, $168 billion in foreign assets and an enviable 2000 km-plus stretch of coast on the Mediterranean. For all these assets, Libya (pop. 6.4 million) also has a relatively small number of mouths to feed. In other parts of the world, the combination of small population and ample natural resources has generally proven a surefire formula for success. Why does Libya fail to follow suit?