BARRY’S BLOG THURSDAY 8-15-13
The situation in Egypt is very serious, particularly for the people of Egypt. This part of the world has been unsettled for centuries, however now in this time, it is more serious than ever before. The reason is that the political unrest in the region has taken on international impact and the outcome in these civil wars have direct affect on our and the world economy. The struggle for power in these countries is usually based in controlling world oil prices and now even control over oil production.
These countries have only one income and that is oil. If production of crude switches to other countries, these countries risk major economic collapse. The USA oil production is somewhat of a sleeper. We are daily increasing our ability to produce oil using new drilling and extraction techniques such as Fracking. This is using high pressure water to drive oil and gas from pockets of shale. PA, SC, and several other states are rolling up major production of oil which may in fact move the balance of oil power for the first time in many years. This certainly must have many political groups nervous at the potential of their own economy.
The political watchers are more concerned this morning with what the Obama administration will do with what is truly a civil war, and several critics believe we should keep our nose out of their business. In the meantime several hundred citizens have been killed in the unrest. The sad truth is major powers in the world make a lot of money by supplying weapons, planes, bullets and money to both sides.
Time to play the sone: “Why can’t we just get along!”
Have a great day, and be kind to yourself today!