Detailed text transcripts for TV channel - MSNBC - 20121202:11:08:00
Supply is lost. with 12% of oil supplies disrupted, prices spiral out of control. after just three days, motorists begin panic-buying gasoline. people are forced to seek other means of transport as oil prices increase, truckers protest, block aiding roads. but the price keeps rising. >> we could be well above 130, $140 by the end of it. those are the kinds of prices that triggered the last recession. >> it takes four weeks to reopen the bosphorus. it's already too late. the world plunges into global recession. >> is the united states prepared to deal with another oil shock? the answer is no. i...
Source: news source