Posted on 11/12/2009 6:47:58 AM PST by greatplains
The International Energy Agency (IEA) has warned that the recent rise in the price of oil "risks derailing the recovery" if it continues.
The IEA says that oil demand itself will also rebound much more slowly if price rises continue in 2010.
The price of oil has risen by 77% this year and is now trading at about $79 dollars a barrel.
The IEA also warned that signs of renewed economic growth remained "tentative".
'Risk'
In its monthly report, the agency said China was driving demand and revised upwards its forecasts. In 2010, it predicts a 1.6% increase in demand to 86.2 million barrels a day.
The IEA said that in the US, "the 'real' economy, as opposed to the financial one is struggling to recover" and added that if the government withdrew its stimulus spending measures, the economy could "choke again... and cast further gloom on an already depressed job market".
(Excerpt) Read more at news.bbc.co.uk ...
Er...what did you say about the Passenger Pigeon? Well, we could have saved it if we hadn't elected George W. Bush!
Yeah, that is right! IT'S ALL BUSHES FAULT!
The socialists are counting on it.
All part of the plan.
Not a whole lot left to derail..almost ready for the fork test. Truth is, any one of a number of factors could torpedo any recovery under the stresses we’re already under.
But, don’t worry, we’ll all have health coverage/sarc
On the contrary, if porkulus, health socialism and crap & trade went away, the economy would improve.
Porkulus is all about 'rats funding their special interest buddies. It has zip to do with "stimulating" the economy, unless we're talking about the personal economies of 'rats and their worthless socialist programs.
If Obummer's minions got out of the way, we would be energy independent in short order.
But that's not the plan, is it ?
Whew, I’m glad you mentioned that. Now I feel much better. (eyes rolling to back of head)
Serve cold to all Americans.
Artificially low interest rates
=> carry trade bidding up equities and commodities
=> rising oil prices
=> “derailed recovery”
=> Helicopter Ben and the Fed “see the need for continuing...”
Artificially low interest rates.
Lather, rinse, repeat. Lots of bubbles.
This story is pure BS mixed with a large dose of ignorance.
Oil prices are NOT going up.
Oil has the same value today that it had six months ago. It will deliver exactly the same amount of energy and other products as it did 6 months ago.
It is that the dollar is going down...down...down.
THE DOLLAR IS GOING DOWN!!!
Get it?
What recovery?
yeah, this recovery was coming in so nicely. What bad news.
It a good thing only those making over $250,000 will be paying these higher gas prices.
/sarc
Don’t you have to have a recovery first before you can derail it?
The alleged “recovery” was already derailed...with the passage of the Stimulus, among other Barry policy enactments....therefore, increased oil price only COMPOUND the problems and forestall any “recovery.” It is but one component of other hordes of policies and problematic components.
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