Oil prices soar amid chaos in Egypt

As the crowds of protesters in Cairo grew from thousands, to tens of thousands, to hundreds of thousands, the price of oil shot upward.

Oil is the lifeblood of the world's economy, and unrest anywhere in the Middle East causes panic.

The price of benchmark Brent crude oil this week surged to $100, up 5 percent since the beginning of last week, when violence spread from Tunisia to Egypt. It’s the first time oil has gone that high in two years.

But Egypt itself is not an oil exporter. So why has oil risen in price?

One answer is simply Egypt’s position on the map. As Simon Henderson of the Washington Institute for Near East Policy tells Voice of America:

“It’s in a strategic position. The Suez Canal flows through Egypt and there is also a significant oil pipeline which stretches from the Red Sea to the Mediterranean Sea,” Henderson said. “So the oil markets are apprehensive of disruption here. So far there hasn’t been any, but oil markets tweak up the price because of what they see as sensitivity.”

For now, the canal — which offers the most direct shipping route between Asia and Europe — remains open. Britain’s “Financial Times” reported today that a special Egyptian military authority has taken charge of the Canal Zone to guarantee the safety of shipping.

But Egypt’s risky geographic location is not the only thing driving up oil prices. More importantly, there is fear that the unrest in Egypt could spread to the other Arab countries which are major oil exporters, such as the Gulf states.

Friday is expected to see the biggest protests yet in Cairo as it marks the start of the weekend in Egypt. The protests are scheduled to begin as mosques let out after Friday Prayers.

Source; Radio Free Europe/Radio Liberty

My comments;

When the price of oil goes up, the price of everything else goes up along with it, because the energy provided by oil is the foundation for everything else in the global economy.

Most people have no idea how fragile their lives are. Westerners in particular are often clueless about the fact that the high quality of life they enjoy is not something they should take for granted. It all depends on a lot of things that are interconnected and any shock to the system can send the entire edifice crashing to the ground faster than anyone can imagine.

If you think there has been hard economic times in the last couple of years, you should prepare yourself for the fact that things are about to get a lot worse.

The situation in the world is bad and it’s not going to get any better.

The economy is not going to recover, the wars are not going to end, the earthquakes, hurricanes, forest fires and floods are not going to stop happening. These things are going to continue and intensify and feed into each other.

As Yeshua (Jesus) said in Mark 13: 7-8;

When you hear of wars and rumors of wars, do not be frightened; those things must take place; but that is not yet the end. For nation will rise up against nation, and kingdom against kingdom; there will be earthquakes in various places; there will also be famines. These things are merely the beginning of birth pangs.

The good news is, there is hope, and His name is Yeshua Ha’Mashiach (Jesus Christ)

He will return, and He will put an end to the devastation and the suffering

Mark 13: 24-27;

But in those days, after that tribulation, THE SUN WILL BE DARKENED AND THE MOON WILL NOT GIVE ITS LIGHT, AND THE STARS WILL BE FALLING from heaven, and the powers that are in the heavens will be shaken. Then they will see THE SON OF MAN COMING IN CLOUDS with great power and glory. And then He will send forth the angels, and will gather together His elect from the four winds, from the farthest end of the earth to the farthest end of heaven.

When He has returned, or when you’re dead, it’s too late to accept His free gift of Grace which is the only thing which can save us from the wrath to come. Accept it now, and enter into the promise of His Salvation.

As Yeshua said in Matthew 11:28;

Come to Me, all who are weary and heavy-laden, and I will give you rest.

Written by Aaron

3 thoughts on “Oil prices soar amid chaos in Egypt

  1. I have to say that I’m not impressed by this sort of “prophetic scaremongering”. Let’s not forget the last century saw the two greatest wars the world has ever seen, and I remember well the african famines of the 1980s, which seemed worse than anything before.

    The truth is that there have always been wars, famines, earthquakes, recessions, etc. The growth of global media and the internet means we hear about them quicker now, but are they more prevalent than before? I don’t know, and any claim that they are needs to be supported by credible evidence.

    I was just thinking that you can interpret the events almost any way. For example: World War II, millions, dead, the end must be near. Afterwards, the United Nations was created with the aim of preventing another global war. But the UN equals the New World Order, One World Government, and so the end must be near. Then there was the cold war and nuclear armageddon seemed imminent – the end must be near (but it never happened and the soviet union fell apart in a rather unspectacular manner). The facts are being spun to suit an agenda. Such biased speculation is a waste of time if you ask me.

    1. Anastasis,

      No one is trying to “scare” anyone. What we write here is the truth, and the truth is the Word of God.

      Matthew 10:28 Do not be afraid of those who kill the body but cannot kill the soul. Rather, be afraid of the One who can destroy both soul and body in hell.

  2. Dear Anastasis,

    I have a Masters Degree in International Relations and a BA in World History. If either one of us had the time and/or I thought you were seriously interested I could show you all the evidence you wanted that the wars, epidemics, famines, wicked weather, etc. today are indeed more severe and widespread than at any other time in human history.

    I would also point out to you that the World Wars of the 20th century and all the other things you mentioned are part of a process that is still ongoing.

    If you say “well, World War II happened and it didn’t mean the end of the world” this is nonsense because WWII didn’t happen that long ago and the world is still dealing with the consequences of it. History is not measured in 15 minute increments.

    All of that having been said, you are free to read this blog or not, and you are also free to take take what you see here seriously or not.

    The fact that you’ve taken the time and effort to make this comment indicates to me that you’re not so sure of the thoughts you have expressed.

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