Obama’s Attack on Libya Helps Drive Oil to $105

Tuesday, March 22, 2011

Whether you support President Obama’s decision to attack Libya or not, one result of the U.S. military action is oil prices hitting $105 a barrel.

On the New York Mercantile Exchange oil reached $104.97 per barrel and at one point, rose to $105.18. In London, Brent crude gained 73 cents to settle at $115.64 per barrel.

Energy economists say unrest in Libya, Bahrain, Yemen and Syria affects exports from a region that combined produces 27 percent of the world’s oil. Libya, which sits on the largest oil reserves in Africa, has almost totally stopped petroleum shipments as rebels (along with the U.S. military) battle pro-Gaddafi troops.

Libya could be embroiled in a protracted conflict that will keep its oil fields offline much longer than previously expected, energy experts said.

While President Obama roams across Brazil and Chile, today arriving in the Central American nation of El Salvador, at each stop expressing his concern for the people of Libya, I find it curious that he never expresses one iota of concern his foreign policy choices have for the American people.

Record high energy prices on the heels of the worst recession on record, is causing a serious financial hardship on Americans who can least afford it. The elderly — who have gone two years without a Social Security COLA, the poor and the disabled, are suffering.

Mr. Obama has forgotten about the American people who elected him president as he cheerfully plays soccer with local children during his tour of the Ciudad de Deus favela for the cameras.

This entry was posted in International News, News, Oil, President Barack Obama, Worst President Ever and tagged , , , , , . Bookmark the permalink.

8 Responses to Obama’s Attack on Libya Helps Drive Oil to $105

  1. Vivzzz says:

    If O-bomba thinks Sorkosy will share any of Libya’s oil with the USA, then O-bomba is even more naive than I thought him to be. How can America afford this involvement? I read O-bomba’s Libya adventure has cost the American people more than $1 billion and of course, it’s being expensed on credit. So much for America living on a budget.

  2. Randy Arroyo says:

    It’s all good. Obama has forgotten about us and I’ve forgotten about him. My attention is now on who deserves my vote in 2012 and it isn’t Obama. Maybe I’m vote Green? Or maybe I won’t vote at all. I’m through with him. I wanted him to stay in Brazil. Let the Brazilian people have him. But, then I thought, that’s not fair to Brazil.

  3. Adirondacky says:

    Obama seems to be doing whatever Hillary Clinton wants him to do. But seriously, gas is headed to $5 a gallon by Memorial Day. Economic recovery my ass. We’re headed for a double-dip recession. Trust me on this. It won’t be pretty.

  4. Nigel Karsten says:

    When will Europe’s debt to American for WWII liberation ever be settled?

    Decade after decade Great Britain is forced to follow America into some skirmish or conflict and America calls it a “coalition of the willing.” I call it participation by the coerced. Really, I say it’s high time for the American neoconservative leaders to fight their own battles with oil-rich nations in the Middle East and stop expecting the UK to go along for the ride.

  5. Eric Equality Kuntz says:

    If I were Barry I would hide out in El Salvador too.

    He’s been in office just over two years and members of his own party have already raised the specter of impeachment. Quite an accomplishment.

  6. Seabec says:

    I received an email today from Democrats.com/Unity.

    The email alert asked me to sign their online petition asking Congress NOT to fund any further military action against Libya. I think this is very telling of where Obama is at the moment. His own party stands in opposition to his policies and have launched a grassroots effort to stop him in his tracks.

  7. feminazi says:

    Valid points all. I haven’t received a SS COLA. I guess I retired too soon? In any case, I would like to hear from this president. He idolizes the so-called “great communicator,” Ronald Reagan, so why can’t he address the American people to explain why Libya is of any concern to us? Why are the Libyan people are business? We can’t manage our own house but we’re trying to manage Libya’s house and frankly, I don’t understand it.

  8. Randy: Write in Harvey Milk for prez in 2012. I’m doing that or voting third party. I wrote in Harvey for just about every seat in 2010. If enough of us do it, they’ll notice.

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