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prosecute those involved with the bombing of pan am 103. you know, they in the last case when al megrahi was convicted, they decided not to go and look anywhere else. they didn t figure out who ordered al megrahi to bomb the plane. gadhafi never cooperated with that whole trial. and our country rewarded gadhafi with billions of dollars worth of oil contracts instead. victoria cullock, thank you. the price of oil is soaring. crude hit the highest level in 2 1/2 years today, at $106.72 a barrel. here to explain what this means for your money is muhammad alarian, ceo of pimco, the pacific investment company. thank you for joining me. oil prices are exploding. what is your take on this? so they re exploding for two reasons. the immediate reason is supply,
america, try to go after and prosecute those involved with the bombing of pan am 103. you know, they in the last case when al megrahi was convicted, they decided not to go and look anywhere else. they didn t figure out who ordered al megrahi to bomb the plane. gadhafi never cooperated with that whole trial. and our country rewarded gadhafi with billions of dollars worth of oil contracts instead. victoria cullock, thank you. the price of oil is soaring. crude hit the highest level in 2 1/2 years today, at $106.72 a barrel. here to explain what this means for your money is muhammad alarian, ceo of pimco, the pacific investment company. thank you for joining me. oil prices are exploding. what is your take on this? so they re exploding for two reasons.
pacific investment company. thank you for joining me. oil prices are exploding. what is your take on this? so they re exploding for two reasons. the immediate reason is supply, with what s happening in libya, happening in the middle east. the markets are pricing in an uncertainty premium because they re not sure that supplies are assured. then there s the demand side which is every single day as more chinese, more indians get wealthy, they demand more. think of someone going from a bicycle to a car. suddenly the demand for oil goes up significantly. put these things together, and we have, as you said, high and volatile prices. and there was a development today in kuwait. what was that? what you had was the resignation of the government. so what you re seeing in the middle east is very differentiated. some countries are responding by repression. that s what we ve seen in libya. that s what you ve seen in yemen. other countries are trying to get ahead of the movements. and they re
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