No meaningful disruption, except prices jump like a jack rabbit. And who is to say the remainder of the oil producers aren't going to have their moment?The first major protests to hit an OPEC country put the oil industry on edge Monday, sending crude prices jumping and raising speculation about the use of emergency oil reserves that have only been touched twice in two decades.
In addition to Libya, the industry is closely watching protests in Algeria, Bahrain and Iran, the second-largest crude exporter in the OPEC behind Saudi Arabia.
"The concerns in the market go beyond Libya," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "It's unlikely we're going to see any meaningful disruption of oil from the Middle East or North Africa, but the spread of this unrest has raised anxieties."
My Way News - Oil industry worries Libya unrest could spread
Ugh... to our Democrat friends and their enviromaniac buddies that have held us hostage to foreign imports... can we begin to exploit our own plentiful energy sources to the fullest now?