The Street: Unrest In Egypt And Suez Canal Could Have Major Economic Impact

Unrest In Egypt And Suez Canal Could Have Major Economic Impact

screenshotDefense analysts agree that the Egyptian uprising against Hosni Mubarak does not yet threaten the Suez Canal, which remains essential to U.S. energy security.  While Egypt is not among the region’s oil producing nations, if the Mubarak regime is replaced by a strongly anti-American regime, access to the Suez Canal could hypothetically be restricted to tanker ships en route to energy markets in the United States.  This would redirect American-bound oil tankers to a perilous 6-8 week trek around the Horn of Africa.  Read More