...that a certain billionaire struck an oil deal that is being subsidized by US taxpayer money. It's in the oil fields off Venezuela...now there is un-rest in Egypt, the only country that could shut down the Suez canal and the flow of oil through it.. Can anyone verify this?
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Anonymous2011-02-04 18:22
They'd be shooting themselves in the foot if they shut down Suez. Oil isn't that important.
>>4
I think >>3 didn't understand when you said "Oil isn't that important".
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Anonymous2011-02-05 3:30
>>5
Egypt isn't willing to shut down Suez as a bargaining chip for OPEC privileges.
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Anonymous2011-02-05 10:53
>>6
Egypt will have no choice is there's unrest. The price of oil will skyrocket because of the unstability in the region. If Middle Eastern oil prices surge, America will buy more of it's oil from a more stable country with unfettered access to oil routes: Venezuela.
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Anonymous2011-02-06 2:07
>>7
How will making transportation more expensive benefit them?
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Anonymous2011-02-06 7:59
If oil cost more per barrel because of instability, the US will go to somewhere more stable for their oil: Venezuela.
It's pretty simple, really.
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Anonymous2011-02-08 6:10
>>9
But Egypt is not going to shut down Suez so the riots there will have little effect.
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Anonymous2011-02-08 14:11
>>10
INSTABILITY ALONE causes the price of oil to rise.
It's not a hard concept to understand, >>10. If you would pull your head out of your anus, for just a minute, you would get it..
>>13
According to the speculators, yes. It's not a big deal though, speculation regulates the market, bubbles burst quicker when there are more brokers capable of spotting them and taking advantage of them.
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Anonymous2011-02-09 22:14
>>14
What about the nigger rod stuck in your corn chute?
Do the speculators take that into account?
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Anonymous2011-02-10 6:19
>>15
They might as well take such things into account, it would be little different from the wild over-estimation they place on events like the riots in Egypt.
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OP2011-02-17 14:29
A barrel of oil just hit it's highest price in 28 months.
Don't ever doubt me again.
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Anonymous2011-02-17 17:58
>>17
Due to speculation, not actual changes in supply.
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Anonymous2011-02-17 18:50
I think it's more because Iran just moved 2 warships into the Suez.
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Anonymous2011-02-17 22:22
Lets end the4 myth of "oil Speculation".
The price of oil is set by a bunch of Arabs (OPEC) sitting around a table saying "The price will be ____ today"
It's a cartel, a monopoly.
If you think those Arabs are going to let speculators set the price of THEIR oil, you're niave at best.