ISIS rebels attack oil refineries

After capturing a large swath of northern Iraq, ISIS rebels are continuing their push into the southern regions of Baghdad, capturing oil refineries along the way.

If Iraq oil becomes restricted or taken off line, oil prices are expected to hit $200 per barrel.

Reuters reports that "Sunni militants have 75% of the biggest oil refinery in Baiji [Iraq] under their control." The attack came just hours after a British security company was able to evacuate Western oil workers from the refinery.

President Obama will convene with Congressional leaders today, but air strikes are not in the plans. Earlier this week Obama ordered 275 military personnel to Baghdad to assist U.S. embassy personnel there.

From Marketwatch.com:

At best, the ISIS rebellion guarantees that any potential additional Iraqi oil output gains are not going to materialize in the near future. No oil companies are going to invest in Iraq until and unless the situation stabilizes.

This means that Saudi Arabia will have to account for 100% of the hoped-for additional oil supply that the IEA is calling for. There’s quite a bit of uncertainty among oil analysts as to whether Saudi Arabia can even do this, as that’s over 1 million barrels per day more than the country has ever pumped in its entire history.

U.S. oil companies are always on the lookout for a reason to jack up gas prices. Expect $6 gas this summer.

  • Wasting time

    :facepalm:
    I'm not here for this.
    They should have let us stayed to show them how to defend themselves. Now they begging for help and chit.

  • Smonae

    Good Morning Sandy & WastingT

    D*mn it's always something :no:

  • Wasting time

    :hi: Smonae !!

  • CaliYoruba

    $6 in California...I'm not here for this today *sigh*

    but I am here for OUTKAST TICKETS ON SALE at 10am YASSSSS!

    Sandra, are you going giveaway some tickets to the Roses?

    Morning, Roses :hi:

  • VDot

    Expect $6 gas this summer.

    _________________________

    :blink: Ain't nobody got time for that!! :angry:

    Let me put some air in my Huffy, I'll be a bicycling mofo this summer. Pull up to the club in my bike cruiser talmabout Look at me now :danban:

  • VDot

    Sandra, are you going giveaway some tickets to the Roses?

    ___________

    Auntie got pull like that? Hook me up too. I'll even take you to lunch. Water on me :tea: :waiting:

  • FuturedocDonte

    I hate to say this but George Bush sitting in his rocking chair at camp David like " I told y'all so, bishes" :coffee:

  • SoNastyandSoRude

    wanna see outkast but I refuse to stand... I'm too short for all that

  • libra80sbaby

    I'm gettin me one of them Mama Dee Scooters STAT!! :lol:

  • aRoTh

    I've said it before, gas prices do not bother me. If I only have one dolla and 33 cent to put in the tank, then that's all I'm getting. May not get me far, but I'll just have to learn how to combine my trips, now won't I? LOL

    #unbothered :tea:
    #necessaryexpense

  • User Friendly

    Expect $6 gas this summer.
    _____________

    aint nothing wrong with walking. yall finna learn today.

  • http://www.youtube.com/watch?v=J2SQh007k6U missyJ

    I got no problem taking the bus/train but dayum if I don't work off a train line anymore....... I'll be driving to work only looks like. No matter

  • Milky

    Ain’t nobody got time for that!!

    Let me put some air in my Huffy, I’ll be a bicycling mofo this summer. Pull up to the club in my bike cruiser talmabout Look at me now
    ^^^^^^^^^^^^^^^^^^
    so you saying you are going to have a pink huffy with a basket in the front like THE BAMBI? :kona:

  • Milky

    Oh!! :wave: Good Morning
    smonae
    missj
    user :spank: doing this now becuz I know you aint goin to be shait today!
    aroth
    libra
    RWii
    future
    vdot
    cali
    wasting

  • VDot

    so you saying you are going to have a pink huffy with a basket in the front like THE BAMBI? :kona:

    _________________________

    :yes: Except mine is like a burnt orange. With a cup holder, basket and horn :lol:

  • User Friendly

    :lol: Milky I aint eem do nuffin!
    .
    .
    yet :wink:

  • Milky

    User Friendly says:

    Milky I aint eem do nuffin!
    .
    .
    yet

    ^^^^^^^^^^^^^
    my point eggsactly :spank: some more for getting smart. i am starting to think that you like this :spank:

  • verybery

    Let's all :pray: oil prices don't get that high. Like sandra said the oil companies will use any excuse to charge that much for gas :no:

  • Wasting time

    :rofl:

  • Wasting time

    Hey Milk :hi:

  • http://www.youtube.com/watch?v=J2SQh007k6U missyJ

    Aight nah, did everyone take their meds this morning? Open wide say aah and lift up ya tongue. Ion want to see nobody "fren", invisible dog, Jiminy Crickett, fairy gawd muvas in here tah-day! Alright.. let's awl just be us on this 18th day of June in the year of our Lordt 2014.

  • CaliYoruba

    @SoNasty- My friend told me they're building something like a stadium I guess, for the concert. Hopefully, that's true b/c I'm 5'1...and half