Very true. Oil is a world commodity, anything that affects its availabitly anywhere ultimately affects its price everywhere.
Unfortunately speculators of failure of production and delivery are driving the price upwards, do to the ability to gamble and make money on the availability or the lack of it.
Ought to be a law against it. Libs are all for gubmint intervention, why not put an end to speculation of commodities? They'll never do it though. To many of them have made their fortunes doing it themselves. Hitlery made a 100 grand speculatin' on cattle futures while investing what, 6 grand?
Somethin' is terribly wrong with the system when you can make more money speculating failure, than you can success!
Eta:
Just ask some of the pricks at Golden Sacks! They bet both ways on mortgage failures and still got a bailout from O'bummer.