copyeditor:

nationalpost:

Libya’s unrest pushes up oil prices
Libya, although only a small part of the world’s oil production, is a major supplier to many European nations and holds the largest proven reserves in Africa.

Oil supply crisis lurks in Libya
Libya is the first major oil producer whose regime is at risk from the uprisings sweeping the Middle East and North Africa. If Libya falls, anyone of the major oil producers could be next. Already, there has been unrest in Yemen and Bahrain, where civic protests continued Tuesday, and calls for change in Saudi Arabia, Kuwait and Oman.

“The world could deal with the loss of Libyan barrels, but the worry is that it won’t stop at Libya,” Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, told Bloomberg News. “We don’t know where this is going to end.”

USD 110 a barrel.

You see that this wouldn’t have been a problem if BP took what they earned and made refineries in the United States but no, they want us to pay more. They want to earn more money.

Although it is bothersome that oil prices are raising again, I’m least worried about that. I don’t want cheap oil if the cost is a whole country’s lives.