As the demonstrations rage in Egypt, oil prices are on the rise. But the higher price tags are not because of the volume of oil that comes out of Egypt or because of the amount of oil transported through the Suez Canal.
Amy Myers Jaffe, the Wallace S. Wilson Fellow in Energy Studies and director of the Energy Forum at the Baker Institute, explains “political contagion” is to blame in her Feb. 3, 2011, blog post “Is $100 West Texas Intermediate Inevitable?” on the chron.com’s Fuel Fix site. Click here to read her blog and leave a comment.