A War With North Korea Could Send Oil Prices Skyrocketing

Oilprice.com ^ | 05-09-2017 | Irina

[bananaman22]

An open military conflict in Northern Asia would disrupt more than a third of global seaborne crude oil trade, Wood Mackenzie warned last week amid yet another escalation between North Korea, its neighbors, and the U.S.

Such a conflict would cripple North Asia’s production and refining capacity, the consultancy said. Some 65 percent of Asia’s crude oil refining capacity is located in China, Japan, and South Korea, so the effects of an open war would be far-reaching and potentially long-lasting. The most pressing question, then, is how likely such an open conflict is.

[x1stcav]

No sh!t.

This crap is intended to make sense to children and limited-IQ types.

Pretty insulting.

[eyedigress]

BS. Japan has no oil.
Big problem for them in WWII.

Just eliminate C&C in NK. If Fat Boi sets off a nuke he will
get one or 5 in return.

[JimRed]

A war with anybody would do the same.

[bgill]

It’s gone up 41 cents in the Texas Hill Country in a week. Today, $2.39. In Austin, they’re complaining about driving all over looking for a station with gas. They’re raising the price because they can, not because there’s a shortage. The Exxon refinery in Houston that had to shut down was up and running two days later.

[Sam Gamgee]

I'm not convinced what is the right thing to do here is. Trump supporters do not want another exercise in nation building. South Koreans leadership basically wants to continue the status quo, and the Japanese are unwilling to spend money on their military to protect themselves.