Libyan crisis has been scrutinized through many analytical tools in order to understand its dynamics of escalation and ways to de-escalation, however, literature on the topic often focus on purely political and security variables. This study aims at tracing insights the political economy may provide to the crisis in Libya. First, some economic variables that give analytical significance to "Need" and "Greed" understandings has been presented, which confirms that they are not less important as compared to those brought from "Creed" and that a better understanding of the Libyan case as most of internal crises and conflicts requires that light being shed on political, social and economic interpretations alike. The study concludes that political economy understandings could be useful to de-escalation efforts through a package of measures.