The dictators of Tunisia and Egypt, northwest and eastern neighbors to Libya respectively, have been recently toppled. It appears that Libya is on the brink of takeover. Qaddafi will not last the week, IMO.
Monday, February 21, 2011
Libya Protests Spread As Barrier Of Fear Crumbles
The dictators of Tunisia and Egypt, northwest and eastern neighbors to Libya respectively, have been recently toppled. It appears that Libya is on the brink of takeover. Qaddafi will not last the week, IMO.
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Instability in some of the Arab nations will likely influence growth in oil prices. That's the supply side. China's increasingly growing oil demands is the other side of the equation.
ReplyDeleteAnd China can pay the outrageous prices for oil without so much as blinking.
It will be very interesting to see how this plays out from the oil perspective. I agree wholeheartedly about Quadafi.
ReplyDeleteS[in]… — Yes, the oil situation is not predictable. I believe gasoline prices in Los Angeles are now around $4 per gallon. The U.S. is talking about dipping into its strategic oil reserves; however, that is characterized as not sufficient for the long term.
ReplyDeleteWill, I drive less once I must pay $4 or more at the pump. Yes, I shall. And sometimes when I bump my freeway speed to 65 MPH, I will likely reconsider and get back to 60 MPH.
Last time fuel was $5+ at the pump there were fewer vehicles on the Interstate, and those who were had slowed down for the most part.
We so badly need to increasingly harness solar and wind for energy.