----- Forwarded Message ----- From: graham <[email protected]> Sent: Saturday, February 25, 2012 11:13 PM Subject: [CPA] Oil Price Spike
I can't scan this in but there is an article in the Economist magazine on the causes of the shortage of Crude oil. Its on page 86 of the February 25-March 2 issue. Basically they point out : 1. Oil supply from Southern Sudan is presently off line due to warfare. Pipeline dispute of some kind there. China gets a lot of this oil normally. 2. Oil Workers in Yemen are on Strike at the moment so no oil flows from there at the moment. 3. Of course the Iranian situation and threats to the Straight of Hormuz are a factor, but they also point out that Iran has cut off all shipments to Europe and Japan as of February 20. 4. Syrian oil is presently offline and not shipping. 5. There is anxiety in the market about the reliability of oil supplies presently shipping but potentially interrupted in Nigeria, Iraq and Bahrain. 6. There are some older facilities in the North sea that are presently undergoing maintenance. This is typically done in February in the North Sea as this is a slower oil demand period under normal circumstances. 7. There are reports from oil analysts that say that Saudi Arabia is already shipping at a 30 year high rate and many not have as much upside capacity to make up for all the stuff that is offline. They are estimating that 1.25 million barrels a day of capacity may presently be unavailable. So it looks like there is more going on by far than just Iran. Most of which i was not aware of. The Economist is generally pretty good for this type of international news. Graham The Republican Establishment are concerned that conservatives, i.e. the TEA Party, will not support them or the RINOs come Nov. They argue that any of them would be better than their Democrat opponent. Too bad they didn't think of that when they withheld support for Sharron Angle, Joe Miller, Christine O'Donnell, Meg Whitman and Carlie Fiorina. The GOP could've had a majority in the Senate at the very least. We the People http://www.youtube.com/watch?v=JVAhr4hZDJE -- To join RichsRants, send email to: [email protected] For more options, visit this group at http://groups.google.com/group/richsrants?hl=en
