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Analysis: Oil price rise raises specter of global recession

reuters -- A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.

Oil rose to a 10-month high above $125 a barrel Friday, prompting responses from policymakers around the world including U.S. President Barack Obama, watching U.S. gasoline prices follow crude to push toward $4 a gallon in an election year.

Europe may have more to fear as its fragile economic growth falters and Greece, Italy and Spain look for alternative sources to the crude they currently import from Iran, where an EU oil embargo, intended to make Iran abandon what the West fears are efforts to develop nuclear weapons, comes into force in June.

In euro terms, Brent crude rose to an all-time hig

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Submitted Mar 03, 2012 By: A_NY_Outlaw

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jrs4125 Champion Author Indiana Posts:2,893 Points:618,470 Joined:Sep 2011	Message Posted: Mar 5, 2012 4:54:39 AM Ignore jrs4125 Report Abuse ok
WalkingWV Champion Author West Virginia Posts:3,754 Points:788,060 Joined:May 2008	Message Posted: Mar 4, 2012 12:11:30 PM Ignore WalkingWV Report Abuse Another Capt. Obvious article!
sylver7 Rookie Author San Antonio Posts:45 Points:1,530 Joined:Feb 2012	Message Posted: Mar 4, 2012 11:47:36 AM Ignore sylver7 Report Abuse The price of gas is on everyone's mind that's for sure but what's the answer, it's complicated.
WalRus49 Champion Author Boston Posts:4,210 Points:895,590 Joined:Nov 2010	Message Posted: Mar 4, 2012 5:24:19 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage..........
1momsunshine Champion Author Ottawa Posts:5,615 Points:1,026,020 Joined:Mar 2010	Message Posted: Mar 4, 2012 1:27:30 AM Ignore 1momsunshine Report Abuse HMM
anascom Champion Author Hamilton Posts:1,593 Points:556,690 Joined:Feb 2011	Message Posted: Mar 4, 2012 12:02:16 AM Ignore anascom Report Abuse @ dave27johnson syria is not a major oil producing country. it's iran that's making all this mess, in addition to speculations and crazy bedding in wall street.
dave27johnson Champion Author Chicago Posts:1,823 Points:432,770 Joined:Feb 2012	Message Posted: Mar 3, 2012 11:12:29 PM Ignore dave27johnson Report Abuse Iran and Syria have been stirring up fear in the region, so costs continue to go up. Speculators profit from fear.
ExplorerWA Champion Author Washington Posts:4,235 Points:823,975 Joined:Feb 2011	Message Posted: Mar 3, 2012 9:52:31 PM Ignore ExplorerWA Report Abuse High fuel prices and recession go hand in hand both here and world wide.
fuel2use Champion Author Seattle Posts:3,609 Points:757,945 Joined:Dec 2010	Message Posted: Mar 3, 2012 8:43:31 PM Ignore fuel2use Report Abuse No kidding.
SBlouch Champion Author San Antonio Posts:8,836 Points:1,885,285 Joined:Apr 2007	Message Posted: Mar 3, 2012 8:08:45 PM Ignore SBlouch Report Abuse We all know the Global economy still is not very healthy or stable. So any increase in the price of crude oil is reflected in the higher costs at the pump. This high cost will have a definite effect on the still fragile Global economy with the return of a recession.
davenles Champion Author Texas Posts:3,336 Points:745,610 Joined:May 2011	Message Posted: Mar 3, 2012 7:55:31 PM Ignore davenles Report Abuse Global.
Reishman Veteran Author Illinois Posts:384 Points:536,865 Joined:Sep 2006	Message Posted: Mar 3, 2012 7:06:59 PM Ignore Reishman Report Abuse Oil prices suck.
aquarinut Champion Author British Columbia Posts:1,630 Points:444,595 Joined:Jul 2011	Message Posted: Mar 3, 2012 7:06:11 PM Ignore aquarinut Report Abuse Perhaps this is why the current administration is ignoring the voice of the American people.... They are hoping this Obammanation will happen! The sham of curtailing American energy development on PUBLIC property and touting the increased development on PRIVATE property to show he is working on bettering the US!! The shale gas discovery and development must have put a real dent into his agenda so he fought back by bringing into place endless regulations to new exploration hoping to squash that avenue to get off foreign dependance on energy. It seems this current administration is pushing reliance on foreign energy dependance just so he and mr chew (chu) can "chew" the American people into accepting his policies!!!!
TripleHs Champion Author Austin Posts:3,435 Points:940,090 Joined:Oct 2009	Message Posted: Mar 3, 2012 6:24:00 PM Ignore TripleHs Report Abuse thanks to the speculators and our government which allowed the speculations
TripleHs Champion Author Austin Posts:3,435 Points:940,090 Joined:Oct 2009	Message Posted: Mar 3, 2012 6:22:32 PM Ignore TripleHs Report Abuse coming
ToolinIt Champion Author Colorado Posts:1,805 Points:911,260 Joined:May 2010	Message Posted: Mar 3, 2012 5:42:54 PM Ignore ToolinIt Report Abuse It's already started.
hoosierdaddyno1 Champion Author Indiana Posts:1,542 Points:1,278,240 Joined:Oct 2008	Message Posted: Mar 3, 2012 5:05:11 PM Ignore hoosierdaddyno1 Report Abuse Wow and how do we stop it! We cant ,no control only a oil frenzy with speculators and oil companies killing any economic recovery and sending us into a depression .
Mark8601 All-Star Author Bakersfield Posts:929 Points:397,035 Joined:Dec 2011	Message Posted: Mar 3, 2012 4:47:36 PM Ignore Mark8601 Report Abuse Man where did I drop those Blinders. I know I left them somewhere near by.
alterman156 Champion Author New York Posts:7,625 Points:1,584,250 Joined:Dec 2008	Message Posted: Mar 3, 2012 4:40:13 PM Ignore alterman156 Report Abuse When the recession occurs, oil prices will plummet.
fishnhuntWV Sophomore Author West Virginia Posts:231 Points:65,870 Joined:Aug 2011	Message Posted: Mar 3, 2012 4:35:11 PM Ignore fishnhuntWV Report Abuse plant a garden this year folks. food prices are going to go sky high, with high oil more ground will be plowed up for ethanoal and biodiesel this growing season.
djwhit Champion Author Ohio Posts:3,147 Points:1,235,180 Joined:Jul 2009	Message Posted: Mar 3, 2012 4:32:36 PM Ignore djwhit Report Abuse WAKE UP PEOPLE.......
investmentdr Champion Author Cleveland Posts:4,122 Points:1,479,935 Joined:Sep 2008	Message Posted: Mar 3, 2012 4:10:07 PM Ignore investmentdr Report Abuse europe was already a mess
Jeff1944 Champion Author South Dakota Posts:4,342 Points:1,100,285 Joined:Jan 2010	Message Posted: Mar 3, 2012 3:46:46 PM Ignore Jeff1944 Report Abuse Thanks in part to the partisan politics in Washington, DC.
car253 Champion Author Ohio Posts:6,430 Points:1,495,345 Joined:Oct 2008	Message Posted: Mar 3, 2012 3:20:04 PM Ignore car253 Report Abuse I agree with Legion57.
gawxnative All-Star Author Atlanta Posts:510 Points:232,040 Joined:Aug 2006	Message Posted: Mar 3, 2012 3:09:16 PM Ignore gawxnative Report Abuse And with recession and economic slowdown why do prices keep going up
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Mar 3, 2012 2:56:25 PM Ignore LEGION57 Report Abuse yes it is, the odumbo and Soros dream of destroying the world economy and taking control is coming true.
ktbaeohana Champion Author Las Vegas Posts:2,412 Points:442,125 Joined:Mar 2010	Message Posted: Mar 3, 2012 2:33:44 PM Ignore ktbaeohana Report Abuse Watch and see.
kag2010 Champion Author Winnipeg Posts:5,394 Points:1,047,460 Joined:Apr 2010	Message Posted: Mar 3, 2012 2:28:43 PM Ignore kag2010 Report Abuse old news
bowler360 Champion Author Illinois Posts:2,105 Points:526,275 Joined:Jun 2011	Message Posted: Mar 3, 2012 2:10:02 PM Ignore bowler360 Report Abuse Of coarse Obama wants to crack open the SPR,...it's an election year.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Mar 3, 2012 1:54:42 PM Ignore dh0770 Report Abuse Must be a requirement of politicians to state the obvious....the sky is blue, price of oil must go up!
dbecks44 Champion Author Michigan Posts:1,477 Points:458,930 Joined:Jan 2012	Message Posted: Mar 3, 2012 1:53:04 PM Ignore dbecks44 Report Abuse Wait . . . gas prices are going up? I hadn't noticed. ;)
vmholladay Champion Author Reading Posts:2,615 Points:689,445 Joined:Apr 2011	Message Posted: Mar 3, 2012 1:31:32 PM Ignore vmholladay Report Abuse duh
amerk73 Champion Author Dallas Posts:7,185 Points:1,648,680 Joined:Oct 2008	Message Posted: Mar 3, 2012 1:01:12 PM Ignore amerk73 Report Abuse old news
tnfran Champion Author Arizona Posts:4,513 Points:868,165 Joined:Dec 2010	Message Posted: Mar 3, 2012 12:40:23 PM Ignore tnfran Report Abuse reuters -- A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause. You mean reuters is FINALLY waking up to this fact.
dave27johnson Champion Author Chicago Posts:1,823 Points:432,770 Joined:Feb 2012	Message Posted: Mar 3, 2012 12:29:00 PM Ignore dave27johnson Report Abuse Many specters since the recession, but the economy is growing. Jobs and growth will solve a lot of problems.
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Mar 3, 2012 12:20:50 PM Ignore jwalkerh Report Abuse Worldwide effects of high fuel prices...
jwkycola All-Star Author Columbia Posts:817 Points:551,600 Joined:Jul 2011	Message Posted: Mar 3, 2012 12:15:41 PM Ignore jwkycola Report Abuse Yup.
kc58veteran Champion Author Pennsylvania Posts:2,660 Points:613,105 Joined:Jul 2009	Message Posted: Mar 3, 2012 12:14:55 PM Ignore kc58veteran Report Abuse Night Owl said: Whenever world economies start to recover, greedy Wall Street oil speculators raise oil prices. This kills whatever little recovery has started. AGREE!!!!!!
Night Owl Champion Author Toronto Posts:7,685 Points:1,813,925 Joined:Jul 2004	Message Posted: Mar 3, 2012 11:56:01 AM Ignore Night Owl Report Abuse Whenever world economies start to recover, greedy Wall Street oil speculators raise oil prices. This kills whatever little recovery has started.
Nicoalbum Champion Author Ottawa Posts:6,167 Points:1,216,725 Joined:Jan 2010	Message Posted: Mar 3, 2012 11:53:21 AM Ignore Nicoalbum Report Abuse Israeli attack on Iran may initiate the end of human presence on the Earth.
BuckyTJones Champion Author Salt Lake City Posts:4,932 Points:967,950 Joined:Mar 2010	Message Posted: Mar 3, 2012 11:46:48 AM Ignore BuckyTJones Report Abuse I would have never guessed. Sarcasm :/
bandannaman Champion Author New Jersey Posts:1,849 Points:365,610 Joined:Dec 2010	Message Posted: Mar 3, 2012 11:42:28 AM Ignore bandannaman Report Abuse Oh.
Rockyguitar Champion Author Tampa Posts:2,693 Points:1,228,320 Joined:Sep 2008	Message Posted: Mar 3, 2012 11:29:15 AM Ignore Rockyguitar Report Abuse YA THINK!!!???
jimgraham Champion Author Akron Posts:10,509 Points:2,007,380 Joined:Oct 2007	Message Posted: Mar 3, 2012 11:17:35 AM Ignore jimgraham Report Abuse With China claiming a BIG bunch of natural gas, the long outlook for high oil prices should diminish.
gasokie Champion Author Oklahoma Posts:3,487 Points:1,346,755 Joined:May 2007	Message Posted: Mar 3, 2012 11:15:15 AM Ignore gasokie Report Abuse Oh well. If we have a "real" recession, world wide kind, there won't be much of a need for a lot of gasoline and that price will collapse. Doom and gloom.
humblepie Champion Author Toledo Posts:35,319 Points:2,399,070 Joined:Mar 2006	Message Posted: Mar 3, 2012 11:13:09 AM Ignore humblepie Report Abuse brilliant i mean brilliant deduction..............