Re: Oil may surge to US$220 if Libya, Algeria halt exports...

[Guest guest]

I wouldn't doubt it. Now, in a rational market we'd be seeing pressure to increase production here in the US. That won't happen because the feds have put so much coastline off limits for drilling and even where it isn't banned they aren't issuing permits. Either its monumental incompetence or its planned. Remember, this is the crew that lived by the mantra "never let a good crisis go to waste."

Also remember the government doesn't count oil and food prices when tabulating its inflation rate. Prices will start to pinch and the government will say there is no inflation. I'll bet what they will do is on one hand offer new programs to hand out funny money and on the other order businesses to hand out more money to employees and the communities (which they have already suggested anyway).

In a message dated 2/23/2011 1:16:10 P.M. Eastern Standard Time, no_reply writes:

Oil may surge to US$220 if Libya, Algeria halt exports, says Nomura