Mid-East Violence Won't Send U.S. Into Double-Dip Recession; Big Oil's a Solid Bet

Violence in Libya has caused talks of a double-dip recession to once again gain steam. The story goes that Gaddafi's forces will destroy oil infrastructure as they flee, or that different tribal groups will come to control the oil fields, then go to war with each other. Who destroys the oil infrastructure of Libya does not really matter for the story, so long as it gets destroyed. The interruption in the flow of Libyan oil will drive up oil prices, crimping a fragile American consumer, and crushing economic growth. At the same time, doomsayers insist violence will engulf Saudi Arabia, and as that regime is toppled oil flow from Saudi Arabia will also stop. This will cause oil prices to...

Source:
http://article.wn.com/view/2011/02/28/MidEast_Violence_Wont_Send_US_Into_DoubleDip_Recession_Big_O/

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