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Suez Canal Closure Concerns Go Viral

Tyler Durden's picture





 

Shockingly, the "pundits" have suddenly realized that courtesy of the upheaval in Suez, the canal with the same name may be closed, which would wreak havoc on shipping costs. Once again, Zero Hedge was just ahead of the curve: "Egyptian Stock Market Plunges Over 11% To Fresh Multi-Year Lows; Is A Suez Canal Transit Halt Imminent?" The just announced countrywide curfew will not make Suez Canal operability any easier. For those who are concerned about what a Suez closure means, we recreate what we wrote previously on the topic. And just in from Reuters, Energy Secretary Steven Chu has declined to say if he is worried Egypt protests may disrupt Mid-East oil, but believes that serious disruptions will have oil prices. By harm he means make them surge higher.

From Egyptian Stock Market Plunges Over 11% To Fresh Multi-Year Lows; Is A Suez Canal Transit Halt Imminent?

And while the important part of the world may ignore what is
happening in Egypt, after all it is not US banker money thay is being
lost, they may want to consider this: according to reports, there has
been live fire in Suez, where the police headquarters have been taken over.
More importantly, according to the Guardian, we may see the first army
insubordination in this city: "a lawyer and executive director for the
Arabic Network for Human Rights
Information, has tweeted that some army units in Suez are refusing to
support the crackdown against the people." Which means the government
may be about to lose control over Suez... And the Suez Canal.

What is special about the Suez Canal? It just happens to be one of the seven most important oil chokepoints:

Suez Canal

Closure of the Suez Canal and SUMED Pipeline would add 6,000 miles of transit around the continent of Africa.   
The
Suez Canal is located in Egypt, and connects the Red Sea and Gulf of
Suez with the Mediterranean Sea, covering 120 miles. Petroleum (both
crude oil and refined products) accounted for 16 percent of Suez cargos,
measured by cargo tonnage, in 2009. An estimated 1.0 million
bbl/d of crude oil and refined petroleum products flowed northbound
through the Suez Canal to the Mediterranean Sea in 2009, while 0.8
million bbl/d travelled southbound into the Red Sea.
This represents a decline from 2008, when 1.6 million bbl/d of oil transited northbound to Europe and other developed economies.

Map of Suez Canal

Source: U.S. Government Click here to zoom

Almost
35,000 ships transited the Suez Canal in 2009, of which about 10
percent were petroleum tankers. With only 1,000 feet at its narrowest
point, the Canal is unable to handle the VLCC (Very Large Crude
Carriers) and ULCC (Ultra Large Crude Carriers) class crude oil tankers.
The Suez Canal Authority is continuing enhancement and enlargement
projects on the canal, and extended the depth to 66 ft in 2010 to allow
over 60 percent of all tankers to use the Canal.

According to the Energy Library, closing the Suez canal would add 6,000 miles of transit time across the Cape of Good Hope:

The
Suez Canal, Egypt is one of the world's most important waterways and
its Sumed Pipeline is considered a significant geographic oil transit
chokepoints from the Red Sea to the Mediterranean Sea. The Suez Canal is
west of the Sinai Peninsula and serves as a two-way water transport
route between Europe and Asia. It is 190 km long and 300 meters wide.
The canal supports approximately 8% of the world’s shipping traffic with
almost fifty vessels traveling through the canal daily.

In 1967,
the canal was closed due to the outbreak of the Six-Day War. At the
time, Israel has taken over the Sinai Peninsula which resulted in the
Suez Canal becoming a buffer zone between the forces of fighting. The
Suez Canal was reclaimed by the Egyptians in the 1973 Arab-Israeli War
and was reopened in 1975. Since its reopening, the canal has been
widened twice.

The Suez Canal is considered a geographic
“chokepoint” due to its influence in the world oil trade and because its
narrow-width could be easily blocked, causing disruption to oil
transport. Oil shipments from the Persian Gulf travel through the Canal
primarily to European ports, but also to the United States. In 2006, an
estimated 3.9 million bbl/d of oil flowed northbound through the Suez
Canal to the Mediterranean, while 0.6 million bbl/d traveled southbound
into the Red Sea.

Over 3,000 oil tankers pass through the Suez
Canal annually, and represent around 25 percent of the Canal’s total
revenues. With only 1,000 feet at its narrowest point, the Canal is
unable to handle large tankers. The Suez Canal Authority (SCA) has
discussed widening and deepening the Canal to accommodate VLCCs and
Ultra Large Crude Carriers (ULCC).

The 200-mile long Sumed
Pipeline, or Suez-Mediterranean Pipeline, also provides a route between
the Red and Mediterranean Seas by crossing the northern region of Egypt
from the Ain Sukhna to the Sidi Kerir Terminal. The pipeline provides an
alternative to the Suez Canal, and can transport 3.1 million bbl/d of
crude oil. In 2006, nearly all of Saudi Arabia’s northbound shipments
(approximately 2.3 million bbl/d of crude) were transported through the
Sumed pipeline. The pipeline is owned by Arab Petroleum Pipeline Co., a
joint venture between EGPC, Saudi Aramco, Abu Dhabi’s ADNOC, and Kuwaiti
companies.

Closure of the Suez Canal and the Sumed
Pipeline would divert tankers around the southern tip of Africa, the
Cape of Good Hope, adding 6,000 miles to transit time.

Then
again, in Bernanke central planning world, this development will likely
mean that oil prices are about to plunge to all time lows.

 


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Fri, 01/28/2011 - 13:38 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ruh roh!

Fri, 01/28/2011 - 13:52 | Link to Comment furieus
furieus's picture

Should it become necessary:  Maybe Israel can invade, you know, to... uhm... provide stability to the global economy.

"Stability" seems to be a big theme for TPTB lately, particularly when justifying, you know, extraordinary measures ;)

Fri, 01/28/2011 - 14:15 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

 Maybe Israel can invade, you know, to... uhm... provide stability to the global economy.

Stop giving Rahm ideas.  ;)

Fri, 01/28/2011 - 14:17 | Link to Comment Mad Max
Mad Max's picture

Noooo!  Now we have to make him "duh Mayor" of Chicago or else he'll do something even worse!

Fri, 01/28/2011 - 14:30 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Noooo!

 

Rahm = Mr. Sluggo?

Fri, 01/28/2011 - 16:54 | Link to Comment BigJim
BigJim's picture

Even if the Egyptians manage a coup, I can't see their new leaders wanting to shut the canal.

I can, however, see the West orchestrating a false flag event that shuts down the canal as an excuse for a quick invasion for a spot of regime restoration.

Fri, 01/28/2011 - 16:22 | Link to Comment CPL
CPL's picture

I love how politics always seems to enter a discussion of engineering a solution.

Doesn't matter who runs the canal. They have to dig, dredge and maintain it.

Fri, 01/28/2011 - 15:45 | Link to Comment bankonzhongguo
bankonzhongguo's picture

The level of media black out on Egypt in the US has been quite amazing - a corollary to the Egyptian internet blackout.  Thanks Vodaphone also.   I am back to shortwave radio and blogs to figure out what is going on.  On 100 cable channels last night - there was no information being discussed about Egypt in the US whatsoever.  Kardashian poon - yes (thanks CNN). Egyptian revolution - not so important.  Even if the military stops everything cold.  Hizballah and AQ are in transit to a new battlefield - Cairo.  Time to watch The Battle of Algiers again.

In all of this only the Muslim Brotherhood is mentioned.  ElBaridea is under house arrest.  Where is the (new) Wafd party? Where is El-Sayyed El Badawi?  Who is that?  CNN won't tell you.  They are only the largest secular political faction.  I guess their perception that Israel broke the Camp David accords is a red flag for Arab rationalism.

While things like happen all the time and it could blow over.  The real hubris coming out of the Jerusalem Post and Haaretz that every is fine is shocking.  This may be the biggest thing to hit Israel since its foundation.  There may be more kibbutz/settlements built in Kansas and Nebraska than the West Bank this year.  Unfortunately, between the "the fence" (its not a wall) and claiming Jerusalem is the new Israeli capital, there must be a realization that 80 million energized Egyptian Arabs are living next door to less than 6 miilion Jews.

Where is Wafd?

Where EXACTLY is Mubarak? 

Is he in Egypt or London?

Has he left the building already?

Fri, 01/28/2011 - 13:39 | Link to Comment Ben Probanke
Ben Probanke's picture

close to zero chance. 

Fri, 01/28/2011 - 13:49 | Link to Comment HarryWanger
HarryWanger's picture

Agreed. There is no way in hell the Suez will be closed.

Fri, 01/28/2011 - 13:54 | Link to Comment tellsometruth
tellsometruth's picture

Well if it did we would send troops into the region... oh uuhhhh... oh no understand WH reaction thus far....

Fri, 01/28/2011 - 14:24 | Link to Comment Eager learner
Eager learner's picture

You have troups in the region. 50,000 In Saudi Arabia if I'm not mistaken.

Fri, 01/28/2011 - 15:16 | Link to Comment New_Meat
New_Meat's picture

O .ne. Ike.  Shutting down the canal has some precedent '73 and '56.

This is pretty well done. http://en.wikipedia.org/wiki/Suez_Crisis

- Ned

Fri, 01/28/2011 - 13:55 | Link to Comment Arius
Arius's picture

i dont think so either.

i wondered what the impact of internet shutting down in the ME will be on analysts evaluation of GOOG, EBAY, AMZN etc.... internet related stocks...any thoughts?

Fri, 01/28/2011 - 14:02 | Link to Comment tmosley
tmosley's picture

HarareWanger says the canal will never close, and that the Zimbabwe dollar is worth three American dollars.

Fri, 01/28/2011 - 14:17 | Link to Comment faustian bargain
faustian bargain's picture

Also, the Egyptian government is stable and there is nothing to worry about.

The phrase "famous last words" comes to mind.

Fri, 01/28/2011 - 15:26 | Link to Comment Citxmech
Citxmech's picture

It's pretty apparent both Hilary and Barack are making statements to set up our new relationship with the new government...  If you read between the lines, they already know the jig is up.

Fri, 01/28/2011 - 14:25 | Link to Comment countryboy42
countryboy42's picture

Harry,

Did you eat a lot of paint chips as a kid? Do you have any idea how easy it would be to close the Suez for a VERY LONG time? Not gonna say how, but I'm sure there are a bunch of people out there who have the same thought.

Fri, 01/28/2011 - 15:08 | Link to Comment mick_richfield
mick_richfield's picture

Did you eat a lot of paint chips as a kid?

You say that like it's a bad thing.

He had enough heavy metals in his childhood diet, and thus is not fixated on acquiring them in adulthood, as are so many of the less fortunate ZHers.

Fri, 01/28/2011 - 14:31 | Link to Comment OMG
OMG's picture

Nah they would never want to protect their oil interest!

 

 

Fri, 01/28/2011 - 14:33 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Agreed. There is no way in hell the Suez will be closed.

 

After the 1967 Arab-Israeli war, also called the Six Day War, the canal was closed by an Egyptian blockade until 5 June 1975

http://en.wikipedia.org/wiki/Suez_Canal

Fri, 01/28/2011 - 14:42 | Link to Comment Bill Lumbergh
Bill Lumbergh's picture

Let's not nitpick now...

LOL

Sat, 01/29/2011 - 01:24 | Link to Comment Arkadaba
Arkadaba's picture

More and more Harry reminds of a boy I battled with when I was young http://www.youtube.com/watch?v=jHPsagwgBaM young - he got his dad to fight his battles.

Fri, 01/28/2011 - 14:42 | Link to Comment TreadwCare
TreadwCare's picture
by Ben Probanke
on Fri, 01/28/2011 - 12:39
#913605

 

close to zero chance.

**

That's kind of not the point . . .

Global commodities market traders would never let a little thing like facts get in the way of some speculative frenzy. 

Just the contagion rumour is enough. 

Fri, 01/28/2011 - 14:51 | Link to Comment Ben Probanke
Ben Probanke's picture

so sell the frenzy no? will have a greater negative on oil demand than on oil supply. its not an arab affair its about emerging markets imploding on inflation. china next? last big protest in egypt were in april 2008.

Fri, 01/28/2011 - 13:41 | Link to Comment JW n FL
JW n FL's picture

Internet Switch!

FAIL!!! BITCHEZ!!!!!

The people are in control, the army is shaking hands with the people!

Fri, 01/28/2011 - 14:37 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Shake hands with your Uncle Max, my boy
And here is your sister Shirl
And here is your cousin Isabel
That's Irving's oldest girl
And you remember the Tishman twins
Gerald and Jerome
We all came out to greet you
And to wish you welcome home

Fri, 01/28/2011 - 14:40 | Link to Comment JW n FL
JW n FL's picture

Howdy All!!

Fri, 01/28/2011 - 13:42 | Link to Comment cossack55
cossack55's picture

Hey, we amerikans built the damn thing, why ca.........oops, wrong canal.

Fri, 01/28/2011 - 13:42 | Link to Comment Henry Chinaski
Henry Chinaski's picture

Better top off the truck on the way home tonight.

Fri, 01/28/2011 - 15:31 | Link to Comment Citxmech
Citxmech's picture

Bingo! 

Time to top off any unfilled fuel cans you might have while you're at it.

Fri, 01/28/2011 - 13:42 | Link to Comment william the bastard
william the bastard's picture

Oil up twice as much as gold

Fri, 01/28/2011 - 16:04 | Link to Comment Taint Boil
Taint Boil's picture

One cubic mile of oil:

 

Does a cubic mile seem “huge” when considering the world’s total oil consumption?

 

17,700,000 barrels [US, petroleum] per day = 0.00067513252496 cubic miles per day

1 divided by 0.00067513252496 cubic miles =

1481.1906744668354216509912877713 days of oil use to fill 1 cubic mile then divided by 365.25 =

4.0552790539817533789212629370877 years to fill one cubic mile.

 

So… if you had one cubic mile of oil you could supply the world with oil for about four years.  Of course oil doesn’t exist in cubic mile “chunks” in the ground – just a tool to help you visualize.

Fri, 01/28/2011 - 13:42 | Link to Comment yabyum
yabyum's picture

Glad I bought some USO yesterday. The whole region is a powderkeg and the fuse has been lit.

Fri, 01/28/2011 - 14:39 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Glad I bought some USO yesterday.

 

Go long Bob Hope?

Fri, 01/28/2011 - 13:43 | Link to Comment papaswamp
papaswamp's picture

Strategically it would be a nightmare for the US. 3 carrier groups in that area. cutting them off would place the US in a rather precarious position.

Fri, 01/28/2011 - 13:57 | Link to Comment Founders Keeper
Founders Keeper's picture

[Strategically it would be a nightmare for the US. 3 carrier groups in that area. cutting them off would place the US in a rather precarious position.]---papaswamp

Time to activate the US Office of High Frequency Trade Puppet Makers.

Seriously, though, thanks for the info. Am always interested in the locale of our flat tops.

 

Fri, 01/28/2011 - 14:40 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Am always interested in the locale of our flat tops.

They're groovin' up slowly.

Fri, 01/28/2011 - 14:06 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Cutting them off?  From what?  They are in the Persian Gulf.

Fri, 01/28/2011 - 14:15 | Link to Comment JW n FL
JW n FL's picture
by papaswamp
on Fri, 01/28/2011 - 12:43
#913628

 

Strategically it would be a nightmare for the US. 3 carrier groups in that area. cutting them off would place the US in a rather precarious position.

*****************************************************************************

I promise you, no one.. wants to piss off a (1) Carrier Group.. let alone 3 that can fight together.

http://en.wikipedia.org/wiki/Carrier_battle_group

http://en.wikipedia.org/wiki/Carrier_Strike_Group

http://science.howstuffworks.com/carrier-group2.htm

those carriers are safer than you and i in our own homes. fact.

Fri, 01/28/2011 - 14:36 | Link to Comment doggings
doggings's picture

lol, what nonsense. when was the last time an undetected Chinese sub surfaced in the middle of an exercise session in your front room?

gotta love America's false sense of invincibility

 

Fri, 01/28/2011 - 14:41 | Link to Comment JW n FL
JW n FL's picture

does chinese food delivery count? with the front door open? cause ummmmm more often than you'd think at my house... lol, sorry.

Fri, 01/28/2011 - 14:43 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Declare hostilities and test that theory.
I dare ya.

Fri, 01/28/2011 - 15:55 | Link to Comment JW n FL
JW n FL's picture

I am sure all kinds of people slip thru all the time... I am sure that mis-information is just as valuable, if not more than what they think they know... thusly can do, to us... there are 2 subs in a carrier group, or so that is the public number. lol

Fri, 01/28/2011 - 16:02 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Would you want to go to PD and run your diesels to charge your batteries in the same ocean as the USN? I would not.

Fri, 01/28/2011 - 15:34 | Link to Comment Citxmech
Citxmech's picture

One word:  "Sunburn" Bitchez.

[OK two words...]

Fri, 01/28/2011 - 15:21 | Link to Comment New_Meat
New_Meat's picture

papa-adds like 20 days to transit to-from Norfolk, maybe faster if they bend on.  If hostilities, would not consider transit Suez (think even an old Silkworm at the bottleneck).

All considered in the CONPLAN.

- Ned

Fri, 01/28/2011 - 13:45 | Link to Comment Xibalba
Xibalba's picture

ALLAH AKBAR!!!!

Fri, 01/28/2011 - 13:46 | Link to Comment Jason T
Jason T's picture

A virtuous cycle right Ben?

Fri, 01/28/2011 - 13:46 | Link to Comment HitTheFan
HitTheFan's picture

20dayMA holding, it'll all blow over (again). Onwards to 1400.

Fri, 01/28/2011 - 14:46 | Link to Comment HarryWanger
HarryWanger's picture

That's why we may see a strong rally into the close. Everyone knows there is a great chance this will be resolved over the weekend. If that happens, the market will be up 2-3% on Monday. Much more risk being short vs. long over this weekend.

Fri, 01/28/2011 - 15:12 | Link to Comment SilverIsKing
SilverIsKing's picture

"Much more risk being short vs. long over this weekend."

May I ask what you base your assertion on?

Fri, 01/28/2011 - 15:19 | Link to Comment faustian bargain
faustian bargain's picture

He's trying to 'win the future'.

Fri, 01/28/2011 - 15:22 | Link to Comment New_Meat
New_Meat's picture

too much WTF this week ;-)

Fri, 01/28/2011 - 16:06 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

If you are gonna "win" something, doesn't that mean someone has to lose?

Why does his "win" sound more like the lottery than working hard towards a common goal?

Fri, 01/28/2011 - 13:49 | Link to Comment MiddleMeThis
MiddleMeThis's picture

Dammit!  Where's Moses when you need him?

Fri, 01/28/2011 - 13:50 | Link to Comment SpeakerFTD
SpeakerFTD's picture

Quick question concerning ags.   If the Suez is closed, then ag exports out of the U.S. would be more difficult?   Spread explodes between U.S and delivery markets?   Just wondering if a Suez closing would prove to be bearish U.S. ags.

(We have been arguing about this, and we wanted another opinion)

Fri, 01/28/2011 - 13:56 | Link to Comment Mad Max
Mad Max's picture

I don't think so.  Most US ag exports heading east of Egypt are heading all the way to China/east Asia and would cross the Pacific starting from a Pacific port.  Probably more bearish for European ags than US.

Fri, 01/28/2011 - 13:57 | Link to Comment SpeakerFTD
SpeakerFTD's picture

Good to know.  Thanks for the info.

Fri, 01/28/2011 - 13:58 | Link to Comment papaswamp
papaswamp's picture

I would think prices would go higher...perhaps the BDI also as ships would have much farther to travel. ...but I seriously doubt it would close.

Fri, 01/28/2011 - 13:50 | Link to Comment tellsometruth
tellsometruth's picture

we gonna get a dow pump to green for the weekend? -131

Fri, 01/28/2011 - 14:48 | Link to Comment HarryWanger
HarryWanger's picture

Not to green but IMO a strong possibility that we rather hard into the close. Much more risk being short vs. long over the weekend when considering this could blow over during the weekend.

Fri, 01/28/2011 - 13:50 | Link to Comment bania
bania's picture

how many facebook accounts do we export through the Suez Canal daily?

Fri, 01/28/2011 - 14:14 | Link to Comment digitlman
digitlman's picture

Thanks for the laugh!

Fri, 01/28/2011 - 14:42 | Link to Comment Vergeltung
Vergeltung's picture

excellent lol

Fri, 01/28/2011 - 13:51 | Link to Comment Johnk
Johnk's picture

AJ: unconfirmed reports of army vs. police clashes in Cairo...

http://english.aljazeera.net/watch_now/

Fri, 01/28/2011 - 14:02 | Link to Comment Founders Keeper
Founders Keeper's picture

Machine gun fire in Cairo reported 15min ago by cnbc. FWIW.

 

Fri, 01/28/2011 - 13:56 | Link to Comment Let them all fail
Let them all fail's picture

Tyler, we read your posts and are well aware that you are ahead of the curve, no need to sound cocky about being right - That said, thanks for sharing the al jazeera live feed, good stuff.

Fri, 01/28/2011 - 13:55 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

 Hillary - "Ben what went wrong ?" , Ben - " the oil presssure I forgot to check the oil pressure"

www.youtube.com/watch?v=aZdp46Jen_w

 

 

Fri, 01/28/2011 - 14:45 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Dork, you made the first mention of the Suez canal that I saw on ZH. If the Tylers are ahead of the curve you must be ahead of the circumference.

Fri, 01/28/2011 - 16:01 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Every time I think of Egypt I think of the Suez crisis 1956 - its pretty obvious what shakes the foregin counsels down there and the capitals up here.

 

 

Fri, 01/28/2011 - 20:47 | Link to Comment A Nanny Moose
A Nanny Moose's picture

+3.14159265

Fri, 01/28/2011 - 14:03 | Link to Comment dryam
dryam's picture

It's much, much harder to manipulate the markets when there's real shit going on in the world.

Fri, 01/28/2011 - 14:00 | Link to Comment chet
chet's picture

Can't have the petty needs of millions of oppressed people fucking with commerce now can we?

Fri, 01/28/2011 - 14:04 | Link to Comment campag
campag's picture

it would be rude of Brent not to test $100- tonight.

a good wake up call to Ben to print more oil.....

is that right????

Fri, 01/28/2011 - 14:21 | Link to Comment hazenyc
Fri, 01/28/2011 - 14:22 | Link to Comment Ben Probanke
Ben Probanke's picture

NEW YORK, Jan 28 (Reuters) - The Suez Canal has been

operating normally over the past three days amid growing unrest

in Egypt, and the transit schedule for Saturday shows no

delays, a shipping source said on Friday.

"Tomorrow's convey is set to go ahead, they're lining up

now with no delay," said the Egypt-based source who tracks

vessels moving through the main passage for Europe-bound Middle

East crude. Tanker brokers also reported no signs of

disruption.

Fri, 01/28/2011 - 14:23 | Link to Comment Common_Cents22
Common_Cents22's picture

US Energy Secretary Steven Chu

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

 

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu

 

Yeah, just what we need $7-$9 a gallon gas.   Elections do have consequences.  Higher taxes, cutting supply, more burdensome regulation.

Fri, 01/28/2011 - 15:32 | Link to Comment New_Meat
New_Meat's picture

Dr. Chu has his PhD. in Physics.  Reportedly his mother was the economist.

http://en.wikipedia.org/wiki/Steven_Chu

"Under his leadership in 2010 the Department of Energy began enforcing efficiency limits on toilets and shower heads previously passed by Congress.[39]"

Maybe better stick to physics?

- Ned

Fri, 01/28/2011 - 14:29 | Link to Comment Convolved Man
Convolved Man's picture

 

As the oil cartel funded

state supported

central banking ponzi pachyderm

ponderously plodded

through the low grass of human suffering

it paused,

momentarily feeling its passage

crushing the lives of so many smaller

less consequential

inhabitants of the plain,

before continuing its slow march

comfortable in its belief

"fuck it, they'll grow back."

Fri, 01/28/2011 - 14:29 | Link to Comment Hammurabi
Hammurabi's picture

Money inflows to Europe and US, this continue in the Arab world we are going to have economic boom in the western world

Fri, 01/28/2011 - 14:54 | Link to Comment Canuckistan Al
Canuckistan Al's picture

Oh boy, all those oil tankers diverted around the horn of Africa.

Somalian employment increases 27x. "We need to hire more pirates!"

I'm going long on Somalian pirates.

Fri, 01/28/2011 - 15:39 | Link to Comment Citxmech
Citxmech's picture

LMFAO...  No shit huh?  We'd probably have to start running escorted convoys at that point.

Just add a little to the cost of doing business... [sarc.]

Sat, 01/29/2011 - 06:56 | Link to Comment doggings
doggings's picture

I'm going long on Somalian pirates.

prolly time to exit and short that one then.

LMFAO...  No shit huh?  We'd probably have to start running escorted convoys at that point.

can I buy CDS on US carrier groups?

 

 

Fri, 01/28/2011 - 15:05 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

No I think the US will fully support the dawn of a new day of democracy and freedom in Egypt and they will use a strategic asset  for the betterment of their society.... </sarc>

Fri, 01/28/2011 - 15:07 | Link to Comment max2205
max2205's picture

WTF, Don't these idiots have guns? lame. Still going with the old throwing rocks deal. one day...

Fri, 01/28/2011 - 17:53 | Link to Comment StychoKiller
StychoKiller's picture

No 2nd Amendment = NO Guns!

Fri, 01/28/2011 - 15:08 | Link to Comment Aknownymouse
Aknownymouse's picture

Tyler - now strong rumors that Mubarak himself escaped

Fri, 01/28/2011 - 15:25 | Link to Comment element115
element115's picture

I hope oil hits $100+ a barrel. The sooner, the better. We have been bouncing along the bottom for almost three years, the only way up is to completely change the current system. $100 oil will get us there quicker.

Fri, 01/28/2011 - 15:49 | Link to Comment cocoablini
cocoablini's picture

Is this going to save the Baltic Dry Shipping Index???
Maybe the 2012 end of the world starts on a slow ramp up from 2008...

Fri, 01/28/2011 - 16:08 | Link to Comment But then what d...
But then what do I know's picture

Suez canal down -- Baltic Dry Index up.....bring it on

Fri, 01/28/2011 - 20:12 | Link to Comment zoogle
zoogle's picture

I bet we won't be seeing any articles of the BDIY going up on zerohedge, that's only valid when it goes down.

Sat, 01/29/2011 - 00:44 | Link to Comment Threeggg
Threeggg's picture

zoogle do i sense some acerbity in your post ?

BDIY Down 55% in three months ....................

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Fri, 01/28/2011 - 19:41 | Link to Comment huckman
huckman's picture

Can we take the handcuffs off domestic energy exploration & refinement now please.  

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