except Israel - they have little red buttons and the Iranians sending their warships through Suez is not helping.
Libya produces (normally) about 1.8 million barrels a day, similar to the UK. 1,3 was being exported, a lot to the UK into Shell near Chester (it is wonderful stuff being virtually 0% in sulphur and very light, allowing for a lot of gasoline and diesel componets to be made out of it. 75% has been cut that spiked the oil price to $115 a barrel for North Sea/ Saudi has 'guaranteed' to underwrite this and its Arab Light is pretty good stuff, so that softened the price over the w/end.
Oil is in very tight supply/demand. When the Alaskan line went dwon just before Xmas, prices spiked by $6 a barrel.
So imagine the impact if (i) there is trouble in Saudi (8.5 mln barrels a day of which nearly 8 is exported. (ii) Iran 4 mln+ (exports over 3); these positions can not be covered. (iii) Israel pushing the buttoin viz Syria or Iran (or someone else) and (iv) Qatar/UAE ( here a lot of oil over 3 million barrels a day but a lot of gas too (that we now import from Qatar
"May you live through 'dangerous' times" adapted Confucius.