Options traders are betting more than ever that crude oil is heading to $200 a barrel as some websites call for a “Day of Rage†in Saudi Arabia and anti- government protests spread in the Middle East and North Africa.
Bloomberg
All this instability in the region creates a real bonanza in terms of profits for the oil companies and oil producing nations.
Gas in Europe is already 8 usd a gallon, this is going to drive people right off the road.
If that is indeed that is the outcome of these grossly inflated numbers, then globalization will have been a failed experiment it's no longer practical.
There could be a return to manufacturing and jobs.
Bloomberg
All this instability in the region creates a real bonanza in terms of profits for the oil companies and oil producing nations.
Gas in Europe is already 8 usd a gallon, this is going to drive people right off the road.
If that is indeed that is the outcome of these grossly inflated numbers, then globalization will have been a failed experiment it's no longer practical.
There could be a return to manufacturing and jobs.
$200 a barrel? Holy shit.