Unrest in Egypt unsettles world markets ( e.g. oil )

[Bill USA]

http://finance.yahoo.com/news/Unrest-in-Egypt-Unsettles-nytimes-4027218866.html

With the United States economy seeming to gain a foothold only recently — government data released Friday showed the economy grew by 3.2 percent in the fourth quarter of 2010 — a sustained increase in oil prices could choke growth, analysts said. It could also undermine the more general optimism that lifted the Standard & Poor’s 500-stock index by 1.5 percent in January, after a 12.8 percent jump in 2010.

“A one-dollar, one-day increase in a barrel of oil takes $12 million out of the U.S. economy,” said Jason S. Grumet, president of the Bipartisan Policy Center, a Washington research group. “If tensions in the Mideast cause oil prices to rise by $5 for even just three months, over $5 billion dollars will leave the U.S. economy. Obviously, this is not a strategy for creating new jobs.”

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[kysrsoze]

1. Yeah, the spread of freedom in the M.E. is dangerous and destabilizing.

Time to jack up the gas prices, because the new Egyptian govt. will surely attack Israel. /sarcasm

[Arctic Dave]

2. Just like the last manufactured spike in the price of crude.

They use any excuse to jack the price no matter how absurd the reason. And this is one absurd reason.