Some Common Cents for August 16th 2013

With Egypt falling apart at the seams this week, I have thought several times: “you know, maybe having Hosni Mubarak over there wasn’t such a bad thing after all.” When you add the current turmoil in that country with the situation in Syria; the less than friendly folks in Iran, and whatever is going on in Libya, Americans should probably be questioning why we are as involved in that section of the world as we are.

While some folks might argue Israel is the reason, methinks our real interest in the Middle East has far more to do with oil than the Israelis. Sure, Egypt is not a major oil producer, but it has the largest army in Africa and the 10th largest in the world. As such, what happens in Cairo is of pretty major importance in a volatile section of the world, arguably more so than what happens in Tunis or even Damascus…Read On…

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.