jueves, 5 de enero de 2012

$150 oil?

As if Europe weren't causing enough turmoil... If Iran follows through on its threats to blockade the Straits of Hormuz, energy analysts say oil prices could soar 50% or more in a matter of days. Why? The Straits, just 21 miles wide at their narrowest point,  are the "world's most important oil choke point", according to Energy Department experts.

For Mexico, higher oil prices would bring good news and bad. The good: a minimal current account deficit, reserve accumulation, a stronger peso, and more money for governments -- federal, state and local -- to spend. The bad: a 50% jump in oil prices would likely tip the precarious balance in Europe into crisis and throw the US into recession. The benefits for Mexico of $150 oil would be overwhelmed by the negatives.

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