Maximus Z..
"Berlusconi and Ghaddafi fit well in the same room"

Of course!
Since Qaddafi's preference runs to tall Ukrainian blondes while Berlusconi's is for petite dusky Moroccans they won't be treading on each others toes....and both are happy to pay for the pleasure.

autocratic governments in countries with oil should be act with precaution because not all the customers would have the refinery capacity or the logistic convenience of their type of oil to be exported by them. In other words for example Mr. Chavez in Venezuela should be very cautious because his heavy oil can be refined only in two countries in the world(one is the US by the way) several factors should be considered : refinery type and capacity installed and logistic situation , Libya should be be very cautious in its steps to threat the world with its oil because not every country can refine it and not any country is a good point to refine it according to its logistic . Mexico is a good example too , back in the dark days of the brainless Echevarria claiming nationalism : "Mexico will not bring down its prices because they were a national asset" (against any free market rule) , cancellations from customers all over the world made Mexico flood in oil and force them to storage it all over the Caribbean and ship tanks stationed in several ports , with a catastrophic economic consequences for the country payed for long years .This dictators inflated by oil and economic power always commit stupid decisions blind by their egos and ignorance in must cases. The youth of this century know that it is time to change them for liberty and democracy

Poor Ireland! What's next after debt and oil crises?

With Libya relying on the oil sector for 80% of its own economy, one also needs to consider how price elasticity in the long run may differ from the short run - affected more by the current unrest.

See "How Libya Protests May Affect Oil Prices": http://wp.me/pZiAD-295

Sincerely,
Ronald Grey
Louisville, KY

Libya, in itself, is a rather insignificant oil producer with rather small reserves as shown here:

http://viableopposition.blogspot.com/2011/02/muammars-oil-libyas-contrib...

What is significant is how delicate the supply and demand balance has become considering that Saudi Arabia is apparently capable of producing an infinite supply of oil.

Lesson learned?

I don't think so. Addicted people learn lessons slowly.

Maximus -

Fuhrer Obama? Cute. Tell me, when it comes to being a low information voter (assuming you vote), just how far down on the knowledge totem pole are you? I mean since apparently is Obama is some sort of Nazi in your opinion I can only assume that you are barely literate, and are heavily reliant on the crazy antics of Glen Beck for your information.

Dependance is never good,especially when it comes to politics. But from the other side some other oil supplying countries will have a chance to reassure themselves in a world oil market.

Libyan crisis has started taking its toll on the global economies. Oil traders are thriving on this turmoil and their casino business booming. Read more at: http://passivevoices.wordpress.com/2011/02/27/oil-traders%E2%80%99-casin...

My understanding is the US gets NO oil from Libya. The other thing I noticed is you don't note your information source.

The potential concern about Gaddafi being removed from power is not due to a change in the supply of oil that Libya provides.

The potential for regretable effects of a change in leadership of this regime is Gaddafi's 30 years of experience belonging to OPEC.

Also other disruptions about this revolt that could lead to changes involving other members with 30 years of experience in OPEC.

OPEC is an important group that america and the rest of the world is used to dealing with for over 30 years. They do and are active about effecting the price of oil, currently they seem to be preferring the price of oil to be raised as per article Oct 7th (my birthday) "crude awakening".

Peacefully and respectfully I want the priced raised as well, also since the S&P seems to be raising in corolation to the price of oil, so do you and your pension.

Kristina Brooker, Newfoundland, 126 395 086
"The number one rank (error implied) consumer"

OIL PRICE, OIL PRICE, OIL PRICE, OIL PRICE, OIL PRICE, OIL PRICE?????

And Qaddafi onlt prefers blonds, cause I'm a natural blond.

@izeytinci No they just get to have a junior Nick Clegg in the Labour Party in Ireland. Lets hope he wont push his mother under a train for self gain.

As for the article, we never really got much oil from Libya compared to the European countries, the hell will the shit will the fan harder for them than us. Now lets say Saudi Arabia or Bahrain has a same revolution, we will start caring in the United States.