Posts Tagged ‘EIA’

“Oil: Mucking Up the Recovery”

Posted on The Huffington Post on Monday, February 21. You can read it on HuffPost by clicking on the link to the article.

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Our dependence on oil leaves us vulnerable to the disruptions in the middle-east!

As Egypt erupted in demonstrations against oppression, unemployment, and wealth disparity, virtually shutting down their economy, oil prices began to rise—speculation that the middle-east could explode into chaos disrupting the flow of oil.

NYMEX passed $90 a barrel and Brent Crude crossed the $100 mark.

As the turmoil grew all eyes were on the Suez Canal, concerned about what closure would do to the transport and cost of oil. The long trips around the Cape of No Hope would be costly moving the price of oil and gasoline to untenable heights.

Speculators were poised to take advantage of the chaos hoping to line their greedy pockets with green.

Where should the price of a barrel of oil and a gallon of gas be?

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Posted in Economy, HuffPost Articles, Oil, Opinion | Comments Off