Libya and Oil Prices

The Libya revolution is causing oil prices to spike. I wonder, if we could get an honest answer, how Americans would respond to a poll asking,

Which one of the following two scenarios would you prefer to happen:

A) The U.S. continues to support authoritarian regimes in the Middle East, and the price of crude oil stays below 60$ a barrel.

B) The U.S. withdraws support, causing the majority of authoritarian regimes to fall. As a result, the price of crude oil jumps to $200 a barrel.

As the Times story relates, price spikes in oil will be a blow to the economic recovery. The United States did not support Libya directly in any meaningful way, I don’t think (Gaddafi has been a thorn in our side for a long time). But certainly indirectly we have been supporting him, by giving so much aid to other authoritarian regimes in the region.


About hubzbubz

Currently residing in Brooklyn.
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