It’s not just about finding enough quality crude to replace Libya — it’s about the not insubstantial political risks hanging over those supplies, too.

Fighting in Libya worsened on Wednesday, as rebels counter-attacked an offensive by Gaddafi forces into the country’s east — which is where much of the oil production is (was), incidentally.

Another reminder that the search for decent substitutes for Libya’s good-quality crude is turning into a longer-term problem, not just a short-term fix.