Crude oil prices and therefore gasoline (and every other product that consumes crude).

I'd say there's about a $10/barrel "this Libya thing is scarring the sh*t out of us" factor in the present price of crude. Libya exports about 1.5 million barrels of crude per day, which isn't a whole lot. The Saudis export about 10 million barrels per day and sit on 20% of the world's proven reserves.

So, if it hits in the Kingdom, I would expect a panic jump in crude to about $140 to $150/barrel.

That equates to $4.00/gallon gasoline pricing.

what happens if something like the 90s golf war & they set fires to the rigs or they walk off the job & nothing is being pumped out of the ground & exported ? Is the $ky the limit ?
I like to wish for the best . But be prepared for the worst

Of course neither of them had any control over it. We are just referring to the idiots in the media that always blamed "Bush and his cronies" every time the price started to go up. Yet, with Obama, not a single ounce of blame.

It's just an observation of how pointless it is to pay attention to the media.

Like I said, I would expect an immediate jump to $140 to $150/barrel. If the supply actually stops?

I don't even want to think about it.

Meh. I don't sweat it.

The feeling would be similar to getting ****ed by an Elephant.

This is what happens when you become beholden to things you can't control. We should have longed ago moved away from oil. We only have ourselves to blame.

Well, from a supply/demand view, if the supply from the Kingdom were to stop, the global spare capacity would cease to exist. Right now, the spare capacity GLOBALLY is about 5 million barrels/day. The United States alone consumes 20 million barrels/day. The kingdom supplies about 10 million barrels/day.

Time to start panic buying!

Move away to what? farmers need fuel to plant & harvest.
I dont see any alternative resource than can move the types of machines it takes to farm this country. Maybe Im wrong ? In the end we starve

My point was we should have been working on removing our dependency of foreign oil decades ago yet we didn't because it was cheap.

LMAO

I did tell my wife to fill up the The Beast on her way down the mountain today, though.

Our demand has actually dropped over the last few years (since 2008), I believe. But, I understand your sentiment and don't disagree. Unfortunately, we are still massively dependent on crude.

I agree
Now Fox news is saying their is a facebook page calling for an uprising in Saudi for early March
Day of rage they are calling it YA

This x infinity. Its sickening how far behind we are in alternative fuels.