Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:58 AM

GasBuddy News Article

50
votes
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


Read the Full Article

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
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,962
Points:1,273,795
Joined:Sep 2011
Message Posted: Mar 5, 2012 4:54:39 AM

ok
Profile Pic
WalkingWV
Champion Author West Virginia

Posts:3,875
Points:808,385
Joined:May 2008
Message Posted: Mar 4, 2012 12:11:30 PM

Another Capt. Obvious article!
Profile Pic
sylver7
Rookie Author San Antonio

Posts:45
Points:1,530
Joined:Feb 2012
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.
Profile Pic
WalRus49
Champion Author Boston

Posts:7,162
Points:1,568,140
Joined:Nov 2010
Message Posted: Mar 4, 2012 5:24:19 AM

More organized mayhem and pillage..........
Profile Pic
1momsunshine
Champion Author Ottawa

Posts:8,247
Points:1,659,015
Joined:Mar 2010
Message Posted: Mar 4, 2012 1:27:30 AM

HMM
Profile Pic
anascom
Champion Author Hamilton

Posts:1,601
Points:968,270
Joined:Feb 2011
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.
Profile Pic
dave27johnson
Champion Author Chicago

Posts:2,628
Points:1,038,735
Joined:Feb 2012
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.
Profile Pic
ExplorerWA
Champion Author Washington

Posts:6,025
Points:1,398,795
Joined:Feb 2011
Message Posted: Mar 3, 2012 9:52:31 PM

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

Posts:5,559
Points:1,276,715
Joined:Dec 2010
Message Posted: Mar 3, 2012 8:43:31 PM

No kidding.
Profile Pic
SBlouch
Champion Author San Antonio

Posts:11,476
Points:2,511,680
Joined:Apr 2007
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.
Profile Pic
davenles
Champion Author Texas

Posts:6,098
Points:1,416,485
Joined:May 2011
Message Posted: Mar 3, 2012 7:55:31 PM

Global.
Profile Pic
Reishman
Veteran Author Illinois

Posts:394
Points:1,074,140
Joined:Sep 2006
Message Posted: Mar 3, 2012 7:06:59 PM

Oil prices suck.
Profile Pic
aquarinut
Champion Author British Columbia

Posts:1,633
Points:497,505
Joined:Jul 2011
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!!!!
Profile Pic
TripleHs
Champion Author Austin

Posts:3,868
Points:1,051,020
Joined:Oct 2009
Message Posted: Mar 3, 2012 6:24:00 PM

thanks to the speculators and our government which allowed the speculations
Profile Pic
TripleHs
Champion Author Austin

Posts:3,868
Points:1,051,020
Joined:Oct 2009
Message Posted: Mar 3, 2012 6:22:32 PM

coming
Profile Pic
ToolinIt
Champion Author Colorado

Posts:1,846
Points:1,528,755
Joined:May 2010
Message Posted: Mar 3, 2012 5:42:54 PM

It's already started.
Profile Pic
hoosierdaddyno1
Champion Author Indiana

Posts:1,716
Points:1,834,520
Joined:Oct 2008
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 .
Profile Pic
Mark8601
Champion Author Bakersfield

Posts:1,122
Points:773,585
Joined:Dec 2011
Message Posted: Mar 3, 2012 4:47:36 PM

Man where did I drop those Blinders. I know I left them somewhere near by.
Profile Pic
alterman156
Champion Author New York

Posts:10,435
Points:2,254,500
Joined:Dec 2008
Message Posted: Mar 3, 2012 4:40:13 PM

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

Posts:356
Points:82,600
Joined:Aug 2011
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.
Profile Pic
djwhit
Champion Author Ohio

Posts:5,655
Points:1,891,105
Joined:Jul 2009
Message Posted: Mar 3, 2012 4:32:36 PM

WAKE UP PEOPLE.......
Profile Pic
investmentdr
Champion Author Cleveland

Posts:6,311
Points:2,111,900
Joined:Sep 2008
Message Posted: Mar 3, 2012 4:10:07 PM

europe was already a mess
Profile Pic
Jeff1944
Champion Author South Dakota

Posts:4,848
Points:1,647,555
Joined:Jan 2010
Message Posted: Mar 3, 2012 3:46:46 PM

Thanks in part to the partisan politics in Washington, DC.
Profile Pic
car253
Champion Author Ohio

Posts:9,029
Points:2,129,085
Joined:Oct 2008
Message Posted: Mar 3, 2012 3:20:04 PM

I agree with Legion57.
Profile Pic
gawxnative
All-Star Author Atlanta

Posts:510
Points:499,640
Joined:Aug 2006
Message Posted: Mar 3, 2012 3:09:16 PM

And with recession and economic slowdown why do prices keep going up
Profile Pic
LEGION57
Champion Author South Carolina

Posts:1,686
Points:286,320
Joined:Mar 2011
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.
Profile Pic
ktbaeohana
Champion Author Las Vegas

Posts:4,751
Points:1,072,825
Joined:Mar 2010
Message Posted: Mar 3, 2012 2:33:44 PM

Watch and see.
Profile Pic
kag2010
Champion Author Winnipeg

Posts:7,670
Points:1,658,610
Joined:Apr 2010
Message Posted: Mar 3, 2012 2:28:43 PM

old news
Profile Pic
bowler360
Champion Author Illinois

Posts:4,700
Points:1,187,845
Joined:Jun 2011
Message Posted: Mar 3, 2012 2:10:02 PM

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

Posts:6,987
Points:675,810
Joined:Jun 2011
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!
Profile Pic
dbecks44
Champion Author Michigan

Posts:3,582
Points:1,091,625
Joined:Jan 2012
Message Posted: Mar 3, 2012 1:53:04 PM

Wait . . . gas prices are going up? I hadn't noticed. ;)
Profile Pic
vmholladay
Champion Author Reading

Posts:4,842
Points:1,332,870
Joined:Apr 2011
Message Posted: Mar 3, 2012 1:31:32 PM

duh
Profile Pic
amerk73
Champion Author Dallas

Posts:9,929
Points:2,319,270
Joined:Oct 2008
Message Posted: Mar 3, 2012 1:01:12 PM

old news
Profile Pic
tnfran
Champion Author Arizona

Posts:7,241
Points:1,525,040
Joined:Dec 2010
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.
Profile Pic
dave27johnson
Champion Author Chicago

Posts:2,628
Points:1,038,735
Joined:Feb 2012
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.
Profile Pic
jwalkerh
Champion Author Louisiana

Posts:6,499
Points:1,448,200
Joined:Oct 2008
Message Posted: Mar 3, 2012 12:20:50 PM

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

Posts:1,081
Points:1,065,380
Joined:Jul 2011
Message Posted: Mar 3, 2012 12:15:41 PM

Yup.
Profile Pic
kc58veteran
Champion Author Pennsylvania

Posts:5,749
Points:1,284,735
Joined:Jul 2009
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!!!!!!
Profile Pic
Night Owl
Champion Author Toronto

Posts:10,390
Points:2,480,630
Joined:Jul 2004
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.
Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:9,395
Points:1,885,775
Joined:Jan 2010
Message Posted: Mar 3, 2012 11:53:21 AM

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

Posts:5,440
Points:1,137,365
Joined:Mar 2010
Message Posted: Mar 3, 2012 11:46:48 AM

I would have never guessed. Sarcasm :/
Profile Pic
bandannaman
Champion Author New Jersey

Posts:1,849
Points:366,010
Joined:Dec 2010
Message Posted: Mar 3, 2012 11:42:28 AM

Oh.
Profile Pic
Rockyguitar
Champion Author Tampa

Posts:5,345
Points:1,880,390
Joined:Sep 2008
Message Posted: Mar 3, 2012 11:29:15 AM

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

Posts:13,315
Points:2,678,300
Joined:Oct 2007
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.
Profile Pic
gasokie
Champion Author Oklahoma

Posts:4,846
Points:1,914,600
Joined:May 2007
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.
Profile Pic
humblepie
Champion Author Toledo

Posts:60,086
Points:3,071,845
Joined:Mar 2006
Message Posted: Mar 3, 2012 11:13:09 AM

brilliant i mean brilliant deduction..............
Post a reply Back to Topics