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Archive for February 6th, 2011

by Wordgeezer

Chris Hedges, standing to the right of Daniel Ellsberg, on Dec 16, 2010, at the demonstration that, in the main stream media, didn’t happen. Probably the most important news in recent times, because it  involved people, who were once in government, the CIA, and the media. They were here at the White House to give us a message and it was not to be found in the main stream media, not even in the NY Times, where Hedges was once the Middle East bureau chief. In 2002, Hedges was part of the team of reporters at The New York Times awarded the Pulitzer Prize for the paper’s coverage of global terrorism, and was a  foreign correspondent for fifteen years (1990–2005).

This was reported in OpEdNews

What Corruption and Force Have Wrought in Egypt
truthdig Posted on Jan 30, 2011

By Chris Hedges

The uprising in Egypt, although united around the nearly universal desire to rid the country of the military dictator Hosni Mubarak, also presages the inevitable shift within the Arab world away from secular regimes toward an embrace of Islamic rule. Don’t be fooled by the glib sloganeering about democracy or the facile reporting by Western reporters—few of whom speak Arabic or have experience in the region. Egyptians are not Americans. They have their own culture, their own sets of grievances and their own history. And it is not ours. They want, as we do, to have a say in their own governance, but that say will include widespread support—especially among Egypt’s poor, who make up more than half the country and live on about two dollars a day—for the Muslim Brotherhood and Islamic parties. Any real opening of the political system in the Arab world’s most populated nation will see an empowering of these Islamic movements. And any attempt to close the system further—say a replacement of Mubarak with another military dictator—will ensure a deeper radicalization in Egypt and the wider Arab world.

Read the whole article at truthdig

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Overview of the Suez Region (EIA)

Tech Talk – Oil Tankers in the wake of the Egyptian Crisis

The Oil Drum- Posted by Heading Out on February 6, 2011 – 9:01am

Gail Tverberg’s analysis of some of the underlying causes of the current Egyptian crisis is cogent, but one of the other consequences caught my attention today. For, as was noted in Forbes

While most equity-related assets got battered, a select group of stocks, oil shippers, were corking champagne bottles. Apart from Overseas Shipholding, Frontline Ltd. had a killer day, gaining 7.8% or $1.96 to $27.10.

An analyst for a shipping hedge fund explained that the spike is connected to fears surrounding the continued operations of the Suez Canal, amidst social unrest caused by massive riots against President Hosni Mubarak’s 30 year rule. “While Suez closure is not much of a threat, shippers are refusing to load in the Red Sea and transit the Canal,” explained the trader. “What’s probably going to happen is that they re-rout ships to the Cape [of Good Hope],” he noted.

“[Re-routing] makes voyages longer, which ties up ships and in turn diminishes supply,” said the analyst, “[this] is positive for the tanker market.”

The change involved is not just giving a tanker captain a different map and saying “get on with it.” Because of the relative size of the Suez Canal, there are different sizes of tankers involved, and so I thought it useful to talk about the different sizes of tankers, how fast and where they go, (and what the cost of that re-routing might be) in the post today.

MORE HERE

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