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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Analysis: Oil price rise raises specter of global recession Back to Topics
REPLIES (newest first) Post a Reply
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jrs4125
Champion Author Indiana

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Message Posted: Mar 5, 2012 4:54:39 AM

ok
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WalkingWV
Champion Author West Virginia

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Message Posted: Mar 4, 2012 12:11:30 PM

Another Capt. Obvious article!
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sylver7
Rookie Author San Antonio

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Message Posted: Mar 4, 2012 11:47:36 AM

The price of gas is on everyone's mind that's for sure but what's the answer, it's complicated.
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WalRus49
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Message Posted: Mar 4, 2012 5:24:19 AM

More organized mayhem and pillage..........
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1momsunshine
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Message Posted: Mar 4, 2012 1:27:30 AM

HMM
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anascom
Champion Author Hamilton

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Message Posted: Mar 4, 2012 12:02:16 AM

@ 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.
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dave27johnson
Champion Author Chicago

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Message Posted: Mar 3, 2012 11:12:29 PM

Iran and Syria have been stirring up fear in the region, so costs continue to go up. Speculators profit from fear.
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ExplorerWA
Champion Author Washington

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Message Posted: Mar 3, 2012 9:52:31 PM

High fuel prices and recession go hand in hand both here and world wide.
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fuel2use
Champion Author Seattle

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Message Posted: Mar 3, 2012 8:43:31 PM

No kidding.
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SBlouch
Champion Author San Antonio

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Message Posted: Mar 3, 2012 8:08:45 PM

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.
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davenles
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Message Posted: Mar 3, 2012 7:55:31 PM

Global.
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Reishman
Veteran Author Illinois

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Message Posted: Mar 3, 2012 7:06:59 PM

Oil prices suck.
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aquarinut
Champion Author British Columbia

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Message Posted: Mar 3, 2012 7:06:11 PM

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!!!!
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TripleHs
Champion Author Austin

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Message Posted: Mar 3, 2012 6:24:00 PM

thanks to the speculators and our government which allowed the speculations
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TripleHs
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Message Posted: Mar 3, 2012 6:22:32 PM

coming
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ToolinIt
Champion Author Colorado

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Message Posted: Mar 3, 2012 5:42:54 PM

It's already started.
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hoosierdaddyno1
Champion Author Indiana

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Message Posted: Mar 3, 2012 5:05:11 PM

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 .
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Mark8601
Champion Author Bakersfield

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Message Posted: Mar 3, 2012 4:47:36 PM

Man where did I drop those Blinders. I know I left them somewhere near by.
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alterman156
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Message Posted: Mar 3, 2012 4:40:13 PM

When the recession occurs, oil prices will plummet.
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fishnhuntWV
Veteran Author West Virginia

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Message Posted: Mar 3, 2012 4:35:11 PM

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.
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djwhit
Champion Author Ohio

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Message Posted: Mar 3, 2012 4:32:36 PM

WAKE UP PEOPLE.......
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investmentdr
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Message Posted: Mar 3, 2012 4:10:07 PM

europe was already a mess
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Jeff1944
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Message Posted: Mar 3, 2012 3:46:46 PM

Thanks in part to the partisan politics in Washington, DC.
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car253
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Message Posted: Mar 3, 2012 3:20:04 PM

I agree with Legion57.
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gawxnative
All-Star Author Atlanta

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Message Posted: Mar 3, 2012 3:09:16 PM

And with recession and economic slowdown why do prices keep going up
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LEGION57
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Message Posted: Mar 3, 2012 2:56:25 PM

yes it is, the odumbo and Soros dream of destroying the world economy and taking control is coming true.
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ktbaeohana
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Message Posted: Mar 3, 2012 2:33:44 PM

Watch and see.
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kag2010
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Message Posted: Mar 3, 2012 2:28:43 PM

old news
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bowler360
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Message Posted: Mar 3, 2012 2:10:02 PM

Of coarse Obama wants to crack open the SPR,...it's an election year.
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dh0770
Champion Author Colorado

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Message Posted: Mar 3, 2012 1:54:42 PM

Must be a requirement of politicians to state the obvious....the sky is blue, price of oil must go up!
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dbecks44
Champion Author Michigan

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Message Posted: Mar 3, 2012 1:53:04 PM

Wait . . . gas prices are going up? I hadn't noticed. ;)
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vmholladay
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Message Posted: Mar 3, 2012 1:31:32 PM

duh
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amerk73
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Message Posted: Mar 3, 2012 1:01:12 PM

old news
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tnfran
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Message Posted: Mar 3, 2012 12:40:23 PM

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.
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dave27johnson
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Message Posted: Mar 3, 2012 12:29:00 PM

Many specters since the recession, but the economy is growing. Jobs and growth will solve a lot of problems.
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jwalkerh
Champion Author Louisiana

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Message Posted: Mar 3, 2012 12:20:50 PM

Worldwide effects of high fuel prices...
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jwkycola
Champion Author Columbia

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Message Posted: Mar 3, 2012 12:15:41 PM

Yup.
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kc58veteran
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Message Posted: Mar 3, 2012 12:14:55 PM

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!!!!!!
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Night Owl
Champion Author Toronto

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Message Posted: Mar 3, 2012 11:56:01 AM

Whenever world economies start to recover, greedy Wall Street oil speculators raise oil prices. This kills whatever little recovery has started.
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Nicoalbum
Champion Author Ottawa

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Message Posted: Mar 3, 2012 11:53:21 AM

Israeli attack on Iran may initiate the end of human presence on the Earth.
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BuckyTJones
Champion Author Salt Lake City

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Message Posted: Mar 3, 2012 11:46:48 AM

I would have never guessed. Sarcasm :/
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bandannaman
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Message Posted: Mar 3, 2012 11:42:28 AM

Oh.
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Rockyguitar
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Message Posted: Mar 3, 2012 11:29:15 AM

YA THINK!!!???
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jimgraham
Champion Author Akron

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Message Posted: Mar 3, 2012 11:17:35 AM

With China claiming a BIG bunch of natural gas, the long outlook for high oil prices should diminish.
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gasokie
Champion Author Oklahoma

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Message Posted: Mar 3, 2012 11:15:15 AM

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.
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humblepie
Champion Author Toledo

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Message Posted: Mar 3, 2012 11:13:09 AM

brilliant i mean brilliant deduction..............
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