Oil prices should fall with Gadhafi overthrow

steveox

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NEW YORK (AP) — Oil prices around the world should start falling if Libyan rebels succeed in toppling Moammar Gadhafi's regime, though the full effect won't be felt for months.

On Sunday night, rebel forces pushed into Tripoli without meeting much resistance, hours after they overran a major military base that defended the capital. The opposition's leaders said Gadhafi's son and one-time heir apparent, Seif al-Islam, has been arrested.

Independent analyst Andrew Lipow said oil markets will likely respond Monday by sending prices lower in "a sign of relief that conflict has come to the end."

But Lipow said it will take time for the market to erase the hefty price increase that resulted from the suspension of Libyan oil exports since the rebellion began in February.

Libya used to export about 1.5 million barrels of oil per day, almost all of which have been cut off. Although Libyan oil amounted to less than 2 percent of world demand, its loss affected prices because of its high quality and suitability for European refineries.

Analysts estimate that the situation in Libya has increased oil prices by $10 to $20 a barrel.

The European refineries have struggled to make up for the production loss despite an increase from Saudi Arabia. As a result, European markets should see the first and most significant drops in oil prices, Lipow said.

He added that any developments in the ongoing European financial crisis could also move stock markets around the world this week and oil prices along with them.

http://news.yahoo.com/oil-prices-fall-gadhafi-overthrow-221558524.html

Obama wont help Libya! But Bachman would. We need the US Military side with the Rebels. Why not have the Air Force and the Navy to help. Libya cant beat the U.S Its been proved that Reagan beat Gadhafi. Lets free Libya by using Americas military power! And Capture lockerbie bomber Mohmed Ali al-Megrahi and Hold him in gitmo bay.
 
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ProudLefty

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It will come back down.Then Obama takes credit for it then he get re-elected
Why wouldn't Obama take credit? If Gaddafi falls, why shouldn't Obama take credit? It is another major diplomatic victory in a long string of diplomatic victories for him.

His ability to stay cool, push the job off to our NATO allies, have patience, and not create false lines in the sand is to be commended. We learned the hard way that "Bring it on" as a solution just plain sucks and is deadly for Americans.
 

steveox

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You know how politics is.Just like George H W Bush took credit for the fall of the berlin wall and the colapse of the Soviet Union when it was Reagan who bullied the Soviet Union.
 

ProudLefty

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You know how politics is.Just like George H W Bush took credit for the fall of the berlin wall and the colapse of the Soviet Union when it was Reagan who bullied the Soviet Union.


rotflmao


So you have fallen for that myth, too?


A long line of presidents, Democrat and Republican, kept the pressure on the USSR for 40 years. Reagan happened to be standing there when the final water swirled away down the drain.

Well, actually, he wasn't there, was he. He was long gone from office when the hammer fell.

I suppose it is just a whole lot of Republicans don't have a whole lot to be proud about, so they grasp at one of the few Republican presidents who didn't destroy the country.

Lets see...
Hoover - destroyed the country.
Eisenhower - dings in the fenders.
Nixon - destroyed the country.
GHW Bush - dents in the woodwork.
GW Bush - destroyed the country.

I suppose when we look at it that way, Reagan is the polished turd in the pile, eh?
 
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steveox

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See what i mean?

What's next in Libya key to US politics, economy

WASHINGTON (AP) — The dramatic advance of Libyan rebels over the forces of longtime strongman Moammar Gadhafi offers vindication, at least for now, for President Barack Obama's decision to refrain from using U.S. troops on Libyan soil and to let NATO take the lead. But confusion Tuesday over the extent of rebel progress illustrated the uncertain path to stability and the hazards that still face the White House.

How Libya moves away from the current turmoil will present the next challenge for Obama and could determine how the public views not only his foreign policy, but in some measure the U.S. economy as well.

Underscoring the volatility, Gadhafi loyalists struck back at the rebels Tuesday. Questions over the state of play in the fight for the Libyan capital contributed to an uptick in oil prices, after a drop on Monday.

The news for Obama on Monday could not have been better. The Libyan street was euphoric, Gadhafi was in hiding and the price of oil — a contributor to dangerous economic lethargy — was dipping.

"The Libyan intervention demonstrates what the international community can achieve when we stand together as one," Obama said at his vacation retreat in Martha's Vineyard, Mass.

http://news.yahoo.com/whats-next-libya-key-us-politics-economy-070156502.html

Even the Media giving him al the credit. Now wheres the credit the media should be given to Bush on the death of Bin Laden?
 
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