Days of Rage, Oil Prices, and the Suez Canal
(Highlights)
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.
Earlier today, investors increased bets that oil prices will likely increase as much as $250 a barrel on concern the unrest in Egypt will shut down the flow of oil through the Suez Canal and spread to Saudi Arabia.
On January 28, Lindsey Williams told Alex Jones the situation unfolding in Egypt is a carefully engineered event instigated by the global elite as part of a plan to bankrupt the United States and send shock waves through the global economy.
