Kurt Nimmo
Infowars
Bloomberg warns today that an act of sabotage or a decision by a new regime – possibly headed up by the Muslim Brotherhood – to close the canal and its oil pipeline to punish supporters of Egyptian dictator Hosni Mubarak could send oil prices through the stratosphere.
Egyptian troops currently guard the canal and its adjacent Suez-Mediterranean oil pipeline but that does not mean the flow of oil – more than 1.7 millions barrels per day – cannot be shut down.
About 2.5 percent of global oil production moves through Egypt via the Suez Canal and the Suez-Mediterranean Pipeline, according to Goldman Sachs.
No comments:
Post a Comment