I know there are people out there saying “who cares about Egypt”, “what difference does it make” but the problem is huge for the world since the oil supply travels through the Suez Canal. Because we have legislators and administrations(both sides) for decades bowing to the EPA, green lobbyists, political interests, naysayers and the oil cartels we have never tapped our own massive natural resource supply leaving us dependent on foreign suppliers. You can easily go back 5-10 years and hear pundits arguing against drilling “now” (then) during energy price spikes because “we won’t see any benefit of it until 5 -10 years later!” Well here we are 5-10 years later where we would now be in a better position had we drilled then with the middle east on fire.
Everything in your home has oil in it or needed to produce! When Egypt falls and should the brotherhood gain control of the Suez Canal we are going to see an instant spike in fuel prices. Ships will be forced to take longer more dangerous routes and the costs of everything we consume will skyrocket. Our economy is hanging by a thread as it is, an oil spike could set a crash in motion worse than 2008. As the chaos unfold in Egypt and the ME you will hear me repeating these words. We are approaching very dangerous times.