A New York Times front-pager this morning is likely making a few oil company PR executives sweat as the paper reports (unnamed) U.S. oil companies appeared willing to pay Libya's $1.5 billion Pan Am 103 terrorism settlement:
"In 2009, top aides to Col. Muammar el-Qaddafi called together 15 executives from global energy companies operating in Libya’s oil fields and issued an extraordinary demand: Shell out the money for his country’s $1.5 billion bill for its role in the downing of Pan Am Flight 103 and other terrorist attacks....
"Many of those businesses balked, saying that covering Libya’s legal settlement with victims’ families for acts of terrorism was unthinkable. But some companies, including several based in the United States, appeared willing to give in to Libya’s coercion and make what amounted to payoffs to keep doing business, according to industry executives, American officials and State Department documents."
The lengthy piece on Qaddafi's finances also notes that none other than Bernie Madoff approached Libya about overseeing its $70 billion sovereign fund.