Libya Unrest Creates Oil Price Surge
Libya is a major oil producer. Curious how this all leads to inflation at the pump.
Reuters: Libya turmoil prompts oil surge, hits equities
Reuters: Libya turmoil prompts oil surge, hits equities
Brent crude gained $2.50 a barrel to hit a new 2-1/2 year high above $105.
posted by Sande at
2:33 PM
3 Comments:
My Prius just keeps getting sweeter and sweeter. I hope OIL goes to $500 a barrel. It's the only way we'll ever switch to electric etc.
If only we could have had a leader with the guts to raise the price, or a populace that saw the need for sacrifice. Ross Perot was right.
There are millions of acres that are leased to oil companies that are to this day unexplored for oil. I do believe that there is a peak oil time but I think its a ways off. The only way we end up switching is when its completely gone and oil companies have extracted every last little penny out of it. Sorry but I am the pessimist. The only people who will change over to electric or hybrid are the smart ones. The top of the smart pyramid is tiny.
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