Quote:
Originally Posted by Pinner
If we weren't so friggin dependent on oil we could get tough, as it stands now a stoppage in Libyan or any oil, could F up the world economy again.
Last night I heard an economist state that a 2 week cut of 1/3 oil supply would spike oil by $50 bbl.  |
OPEC said yesterday they could compensate for any supply shortfall. Theres still a couple million barrels a day from OPEC countries that has been shut in since the economic downturn. The pipeline to Italy has already run dry so I dont see what the west has to lose now.