tag:blogger.com,1999:blog-1422595747936919718.post6434680487373056042..comments2023-09-17T02:48:59.547-07:00Comments on Sustainable Living with Sustainable Energy &Technology-Bioenergy: World oil price to increase, what are future- Fix Biofuel now.Anonymoushttp://www.blogger.com/profile/18026764930202386049noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1422595747936919718.post-22420835543147990972012-09-20T17:10:16.166-07:002012-09-20T17:10:16.166-07:00 Matthew Robinson 1 day ago
Now that Egypt which... Matthew Robinson 1 day ago<br />Now that Egypt which controls the Suez Canal has come under Iranian influence, the prospect of both Iran and Egypt simultaneously closing off both the Strait of Hormuz and the Suez Canal in retaliation for a preemptive strike by Israel paints a very dark picture for the Western World’s fragile economy.<br /><br />According to official forecasts around 5.5% of global oil output travels via the Suez Canal. When one combines this with the 35% that flows through the Strait of Hormuz, the outlook for the global economy should these gates be closed is not good.<br /><br />Not only will the west pay initially with higher fuel prices at the pump, but the flow-on effect throughout the rest of our oil-based manufacturing and service economies will be devastating.<br /><br />When one considers the pressure that this will inevitably place on Europe’s, and especially Germany’s post-bailout economies, will the closure of these two vital sea gates be the catalyst for a more hardline approach from Europe towards radical Islam?Anonymoushttps://www.blogger.com/profile/18026764930202386049noreply@blogger.com