Unrest in Libya is an excuse for increase in Oil prices

How many times have we heard this story about unrest in particular places being the reason for rising gas process here?  I am quite skeptical when I hear his mainly because of the large amount of storage capacity these same companies have and especially since the increases were happening long before this really was announced.

Pablo Gorondi of the Associated Press reports in his article titled Oil jumps above $100 on Libya supply disruption that “Oil prices shot as high as $103 a barrel on Thursday as chaos in Libya disrupted crude supplies from the OPEC nation, and traders worried instability could spread to other oil-rich countries in the Middle East. The mayhem has disrupted crude exports from Libya, which produces about 1.6 million barrels of crude per day and has the biggest oil reserves in Africa.  "With the disruptions in Libya potentially absorbing half of OPEC's spare capacity, we believe the risks now associated with further contagion are much higher," said a report from Goldman Sachs in London.”  I personally find it hard to believe anything said by anyone who is employed with Goldman Sachs in any part of the world.  For me there is still a stigma of the part this company played in the crashing of our economy.   Another reason that I believe the rising gas prices are more about making a quick profit than anything else is a statement from this same article.

“Saudi Arabia's oil minister said earlier that his country's spare capacity would be enough to cover for the shortfalls from Libya.”  If this is really the case then why the need to raise the price?  If Libya’s unrest will remove a certain number of barrels from the market but Saudi Arabia has enough to cover it, then in essence, what is being lost?  I can’t help but think that there is something more sinister going on and this unrest is more of excuse to grab as much money as you can before people begin to see clear again.  Just my opinion and I could be wrong.