Posted by LAA on March 02, 2011 at 18:48:22 from (86.51.147.113):
In Reply to: OT: Diesel posted by CLTX on March 02, 2011 at 15:14:27:
Anybody remember 1979, that was the first real oil shock, when Jimmy Carter stood by as Iran fell and the middle east spun into total chaos for nearly a year, the 1979 price increases were 7 times the increases of the 73-74 Arab oil embargo. Now that Jimmy Jr. is Prez he is powerless and clueless as the region implodes,the increases in the last week are directly due to allowing Iran to sail carte blanche through the Suez canal announcing to the world that they will do as they please, instability of world wide supply equals run ups in price that would otherwise not take place. Farmers should understand better than anyone that it is not necessarily a shortage of something that leads to high prices it is the perception or fear of a future shortage, look at used equipment and farm land prices at the present time.
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