Oil prices to fall after Qaddafi goes byebye?

obama-pictureHere’s some good news for us if this economic anaylsis is true. According to an AP story posted at Fox News, oil prices should fall once Qaddafi is gone. Oil can fall by as much as $20 per barrel! I’m no ecominist, so I guess my theory of chaos in Libya of sending oil prices higher was wrong.

Independent analyst Andrew Lipow said oil markets will likely respond Monday by sending prices lower in “a sign of relief that conflict has come to the end.” But Lipow said it will take time for the market to erase the hefty price increase that resulted from the suspension of Libyan oil exports since the rebellion began in February.

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August 21, 2011 · Filed Under Middle East


Comments

  • Anonymous

    I don’t see how the rebels (AKA Muslim terrorists) control of Libyan oil will benefit us at all.

    Also, who hasn’t seen this yet?

    Exxon finds a Billion barrels of oil & Obama pulls their permit http://t.co/W2umzkc