Peak Oil And The Political Economy Of Terrorism
By Mathew Maavak
04/21/06 "ICH" -- -- Crude oil has breached the $70 psychological barrier again. This time, however, it will not be a one-day seduction by the stormy Katrina.
The causative culprits are aplenty.
Terrorist have taken out 25 per cent of Nigeria's sweet crude since late February and the daily joust between Washington and Tehran is providing splendid returns to those who had invested in oil stocks. For these savvy investors, there will be enough gas in the tank during the peak summer driving season.
Than there is that 10.2 per cent growth registered by China, announced very conveniently before President Hu Jintao's scheduled meeting with his US counterpart George W. Bush. China's booming growth can only be greased by a harder-to-pump oil. The alternatives are stark. If the Chinese bubble gets pricked, the global economy suffers, US corporations may need higher tax cuts - or even subsidies - and Americans will finally need to trim their bellies.
Read the complete article here.
Also, in other oil news
Venezuela’s President Chavez predicts $100 / barrel crude if Bush attacks Iran, promises to destroy own fields if invaded.
http://tinyurl.com/n3ke6
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