Monday, January 08, 2007

Oil Theives in Belarus? Belarus Stealing Oil?

Russia closed off an oil pipeline which brought oil from Russia to several European countries claiming that their neighbor Belarus was stealing oil. What impact will this have on us here in California?

Do you drive a car? If you answer yes, then most likely you buy gasoline, the price of which is easily affected by a pipe closure such as this one.

The European Union has demanded that Russia restore the flow of oil through the pipeline.

It isn't exactly clear at this point whether Russia's claim is true or not. The move could be due to the tariff recently imposed on Russian oil by Belarus.

No matter what the cause we can expect to see oil prices here to go up.

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