Egypt's Uprising Causing Pain At The Pumps

Supporters of existing Egyptian President Hosni Mubarak went to the streets Wednesday as tensions in the country mounted.

Mubarak Refuses To Resign Until Term Ends

The 82 year old announced that he was was planning on running for re-election this September even though the international community is pressuring him to make a swift transition.

"I say in all honesty and regardless of the current situation that I did not intend to nominate myself for a new presidential term. I have spent enough years of my life in the service of Egypt and its people."

"I have never, ever been seeking power and the people know the difficult circumstances that I shouldered my responsibility and what I offered this country in war and peace, just as I am a man from the armed forces and it is not in my nature to betray the trust or give up my responsibilities and duties."

Egypt: Oppression and Corruption

Egypt's uprising has been brought about by the country's disgruntled public who has weathered a 30 year reign by Mubarak that has seen oppression and corruption. Mubarak took over the Presidency after Anwar Sadat was assassinated.

Obama Recommends Mubarak To Resign

President Obama spoke to Mubarak by telephone yesterday and urged the Egyptian leader to resign:

"What is clear and what I indicated tonight to President Mubarak is my belief that an orderly transition must be meaningful, it must be peaceful and it must begin now."

Gas and Oil Prices Rise Steeply

The price of crude oil continues to linger near two year highs with the March 2011 light sweet crude oil contract trading at $91.

The US Energy Information Administration (EIA) reported West Coast gas prices at $3.29 a gallon through January 31st, 2011. Here in Silicon Valley, California, I have seen regular unleaded prices to be as much as $3.49 a gallon.

Protest and Demonstrations

The past month has seen an increase in violence in downtown Cairo. News agency Al Jazeera estimated that over 1 million people gathered in Tahir Square to demonstrate and protest. Pro Mubarak supporters riding on camels and horses whipped demonstrators while clenched fists and stones were thrown in the square.

One person has died and well over 600 people have been injured.

Communication Censorship

Last week, the Egyptian government shut off all Internet and telephone access. Shortly thereafter, the Chinese government shut down all searches on the word "Egypt", from China's two largest Internet portals - sina.com and netease.com

About Kerry Kobashi

Kerry is the founder of KerryOnWorld. He lives in Silicon Valley and has worked as an engineer and project manager. He owns Kobashi Computing a consulting company.