I don't know...
Egypt produces about 700K barrels of oil a day, but consumes most of what it supplies....so the crude oil prices jumping has to be based on fear of unrest around the main shipping lane, and fear of some kind of "domino effect" with uprisings/unrest in the Middle East....
The prices were going to climb anyway...I think T.Boone predicted $120 this year...but he didn't see this Egypt deal coming either.
It needs to go away. By Monday. We need to send in Chuck Norris.
Reply With Quote
