Article

2009-01-03 Home Front Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2009-01-03 00:00|| || Front Page|| [1 views ] Top

#1 One thing that has irritated me to some extent is why an Israeli-Hamas fight would in any way threaten oil supplies. Neither Gaza nor Israel produce oil in any exportable quantity.

It seems to me that you have news media and possibly speculators believing that anyplace in the middle east produces oil and somehow would disrupt supplies.

Posted by crosspatch 2009-01-03 01:10|| 2009-01-03 01:10|| Front Page Top

#2 Corsspatch,
Part of it is that OPEC cutback production in response to the '73 war. That started the long gas lines in the '70s. Another aspect is that wars can and often do spread. Iran is closely tied to Hamas and would like to cause trouble with its Arab neighbors, as it would benefit from higher oil prices. Doesn't mean it's going to happen, but the oil traders are gazing into their smoke filled crystal balls.

Posted by Chuck 2009-01-03 04:29|| 2009-01-03 04:29|| Front Page Top

#3 It used to be that if Israel was in an open shooting war, there was a threat they'd shut down the Suez Canal, which would affect oil deliveries from the Persian Gulf westwards. With the Gulf of Aden situation, I don't know that this traditional linkage makes any sense. The tankers should already be taking the Cape route.

It sounds like the oil bump was transitory, anyways. The commodity markets are kind of like a dinosaur with its tiny brain in its tail - thinks in very broad cliches, reacts rather slowly.

Posted by Mitch H.">Mitch H. 2009-01-03 08:29|| http://blogfonte.blogspot.com/]">[http://blogfonte.blogspot.com/] 2009-01-03 08:29|| Front Page Top

#4 If this is so, then why have gas prices here north of seattle jumped 5-20 cents/gallon (different station reader boards) within the last 2 weeks?

Posted by USN,Ret. 2009-01-03 16:50|| 2009-01-03 16:50|| Front Page Top

#5 ok, i will be first too say it. I't bushs' fault

Posted by rabid whitetail 2009-01-03 19:42|| 2009-01-03 19:42|| Front Page Top

23:54 Barbara Skolaut
23:52 Barbara Skolaut
23:51 Super Hose
23:48 imoyaro
23:45 Super Hose
23:39 trailing wife
23:37 trailing wife
23:36 Super Hose
23:36 Barbara Skolaut
23:32 trailing wife
23:28 Barbara Skolaut
23:26 Poison Reverse
23:20 Yawlad Metnaka
23:16 Yawlad Metnaka
23:14 trailing wife
23:12 Yawlad Metnaka
23:07 trailing wife
23:01 trailing wife
23:00 3dc
22:51 ex-lib
22:51 Poison Reverse
22:47 trailing wife
22:44 Psion Cow
22:20 Rambler in Virginia