Under WSJ.com World News section today, an AP headline reads “U.S. Destroys Baghdad Office of Radical Shiite Cleric Sadr.”
On the third paragraph, it reads:
Elsewhere, insurgents bombed an oil pipeline in southern Iraq, setting off a huge blaze that has slashed daily Iraqi oil exports by about 25%, or 450,000 barrels per day, an official said Monday. Militants set off the bomb Saturday under the Faw oil pipeline, some 35 miles south of the main southern city of Basra, said an engineer at Iraq's Southern Oil Company, speaking on condition of anonymity.
Wouldn’t you think a 25% disruption of oil distribution is HUGE? Wouldn’t you think the success of oil pipeline bombing is BIG? Why does it not have its own headline? Why is it not reported by any NEWS syndication?
Granted crude oil reached $40 per barrel last Friday [1], the highest in 13 years, I think our government is just trying to control the after shock. The news will probably come out in mass media 3-4 days later when the pipeline is restored. But the truth still lies; it is possible to stop this world economy with just one bomb. It may never happened (God forbids), but the fear will have a harmful effect on the market no matter how you tame the news.
Note: DOW Industrial hit below 10,000 just as I suspected on my Friday post. It closed today at 9,990.02.
posted by jason @ 2:12 PM
0 Comments:
Post a Comment
<< Home