According to Yahoo!News:
VIENNA, Austria – Tensions generated by a widening conflict between Israel and Palestinian militants sent crude prices up sharply to above $40 a barrel Monday, with gasoline and heating oil also making sizable gains.
Prices also were supported by indications that key OPEC members were acting on commitments to cut back production, in line with a decision earlier this month to take a daily 2.2 million barrels off the market.
“There could be fear that an escalating Middle East conflict could disrupt supplies, though I don’t see that happening at this point,” said Gerard Rigby, energy analyst with Fuel First Consulting in Sydney. “(Israel-Palestinian conflict) always causes a bit of a blip and is one component that could support prices short-term.”
Read more at Yahoo!News:
- The sharp mini-spike in oil prices today is a small taste of what is to come when there is REALLY a disruption in oil supplies.
What is money? It’s just printed money on demand…to Governments of the world who wanted to sustain their countries….what is the limit of oil prices when the real disruption happens?
Who knows? Maybe God will tell you….money is greed and evil of all things.
The sudden rise in tension in the middle east suddenly stroke a surge of anger among Muslim around the world including Iran, Turkey, Iraq, Malaysia, Indonesia, South Africa, Egypt, Syria and other Muslim Nations stroking thousands of protesters!
Thousands of Iranians, joined by high-ranking Iranian officials and military commanders, shouted “Down With USA” and “Down With Israel” in Tehran on Monday. Many carried banners reading “Israel must be wiped off the face of the earth” and “We should all rise and destroy Israel.”
I purposefully enlarged some of the text to make a statement on the predicament that the world now faced, Israel now had wrongfully chosen the wrong chess moves against the frequent small rocket fires from Gaza that had only killed small number of Israeli population.
Their move to escalates the violence with MORE violence clearly lacks of judgment and self control.
The brutal attack not only back fired from their “shock and awe” tactics to intimidate and force a complete cease firing of rockets from the Palestinian at Gaza to Israel, now the situation only got worsened to provide more serious problems for Israel in the long term.
What Israel should do is either do what the Hamas did and shoot back the same amount of small rockets back to Gaza but with more precision and accuracy to avoid real casualties which the Hamas managed to do perfectly to intimidate Israel for a fight.
The idea is nobody is going to complain about rocket fires from Israel that EQUAL the number of rockets from Gaza but with more precisions that can clearly intimidate the Hamas to bring in more firepower.
What the Israel did now is to fall into the most ancient “trap” by simple intimidation by small rocket fire and get caught by Muslim Nations’ wrath if Israel fights back….
What the Muslim Nations can do against Israel might be unimaginable in the global scale and might not be so good for the availability of oil…which brings us back to….another possible supply disruption either by voluntary supply cut by OPEC or by violent sabotages by angry people with no idea of the consequences.
Now Pakistan is praying hard for PEACE with India days after the Pakistan’s army chief began moving troops toward the rivals’ shared border as tensions rose over last month’s terror attacks on Mumbai.
Pakistan obviously trying to use the media at their favor by trying to “pretend” to be the victim and want PEACE but instead prepared for all out war at the border.
India may have someone in control that still sane enough to want to establish peace with Pakistan which both of them obviously wish to avoid a full war with their neighbor knowingly that both of them have the buttons ready to shoot tactical nuclear missile at each others’ major cities…
I believe both do not want millions of people to be vaporized in an instant…
Now the problems lies with escalation of violence MAY cause many countries of different sides to be at the tightest tension ever since World War 2 near Somalia where many countries had sent their navy ships (Destroyers?) to combat Somalia Piracy problems including key countries such as USA, Russia, Iran, China, Italy, Danish, French, Netherlands, Canada, Malaysia, India and more.
The possibility of a major show down is nearer then ever before but there is still chance for peace if all nations do a major publicity stunts to show global unity which is very unlikely after the fall out of the previous WTO meeting.
Does the world really want war during these economic recession or depression? What is the alternatives?….
What I feel is within the next month from January 18 2009 to February 21 2009 is going to be a turbulent period as Presidential Elect Obama takes the Oval Office on the 20th January 2009 and may be the first President to face with the ultimate decisions to the global fate within hours after taking office.
His priority may be the most difficult if things goes VERY WRONG this month….which may means going to war or negotiate for peace within hours.
The challenge for the world now maybe brace themselves with millions of angry Muslim population protesting against Israel and those countries that supports Israel like America in particular……the scary thing is the Muslim Nations in the middle east holds majority of the world oil supplies.
If they do another major oil embargo similar to the extent of 1973 OPEC Oil Crisis….or emulate the scenario portrayed in the fictional book titled “Last Light” by Alex Scarrow.
Here’s a video trailer for this book…which eerily resembles what might going to happen…hopefully not.
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