Cartoon: What Does Libya Give Us?

By Lee Judge, Kansas City Star, via the Cartoonist Group:

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7 Responses to Cartoon: What Does Libya Give Us?

  1. Lore says:

    Oil is a fungible commodity traded all over the world. Therefore, a disruption in supply in one place means that competing bids from all oil importing nations goes out for the amount that’s left. Less available naturally means higher prices for what’s left.

  2. Oil prices were already going up because demand was pushing against limited supply. It is not surprising that a 2% reduction of supply would drive prices up even further.

    My question: “What does blaming the oil companies give us?”
    Answer: An excuse for ignoring the affect of our gluttonous energy consumption on world prices.

  3. paulm says:

    oil is going to skyrocket because sudi arabia does not have anywhere near the level of oil they claim.

    And this will soon become apparent to the public and speculators.

  4. Bruce Turton says:

    Re #3. paulm Could you give more evidence of your claim. I have read Simmons 2006 book about it, but wonder if there is more info.

  5. Doug M. says:

    There is also the possibility that another bubble is inflating, in commodities. There’s lots of cash sitting around among the big-time investors, and since regulations, taxes, etc. haven’t been reformed significantly, a new bubble is inevitable — commodities would be a natural choice.

    Also look for that bubble to pop come Summer 2012 — just in time for the election; this would also serve the interests of those same investors.

  6. Mulga Mumblebrain says:

    Doug M#5 is correct. ‘Helicopter’ Ben Bernanke has thrown so much ‘funny money’ out of his Sikorsky that great waves of fiat currency are sloshing around the planet in search of the highest return. That speculation in commodities might not be to the benefit of poor consumers worries the money-men less than zero. As for Libya, I believe there are mutterings that the east, that area that the US and its allies are attempting to sever from the rest of the country is home to vast reserves. So the Western controlled ‘insurrection’ is about hydrocarbons, and the talk of ‘democracy’ the usual hollow, hypocritical, pretense. Gaddafi’s response also gives the USA’s even more brutal allies in the Gulf the excuse to crack down big time, as the Bahrainis are learning, and you can bet there will be no ‘no-fly zones’ there or referrals to the immensely corrupt ICC, which persecutes enemies of the West, only.

  7. Anna Haynes says:

    The .ly suffix; users beware…