Ready for $262/barrel oil?

[malcolm_davies]

money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm?cnn=yes

 

[gilliam]

During this crisis expect the price of a barrel of oil to get above $100.

 

[Robert_Bay]

Adjusted title to reflect title of article as per Forum Guidelines

 

[mdzialo1]

…“U.S. power and influence has declined precipitously because of Iraq and the war on terror and that creates an incentive for anyone who wants to make trouble to go ahead and make it.”

“$262 / barrel oil”.

For these reasons and because a couple of Republicans might want to get reelected, Bush isn’t going to attack Iran, no matter what someone from Texas says.

 

[gilliam]

mdzialo1:

…“U.S. power and influence has declined precipitously because of Iraq and the war on terror and that creates an incentive for anyone who wants to make trouble to go ahead and make it.”

“$262 / barrel oil”.

For these reasons and because a couple of Republicans might want to get reelected, Bush isn’t going to attack Iran, no matter what someone from Texas says.

Oil will go up on UN sanctions… way before an attack (if one occurs)… and sanctions are very likely:

In response to Tehran’s foolish decision to restart its nuclear enrichment program, the U.N. Security Council finally got serious about dealing with the Iranian threat. If Tehran does not accept Moscow’s offer to enrich uranium for Iran on Russian soil, a U.N. censure of Iran seems likely. Anything less will affirm the assessment of hard-liners in Tehran that the United States is too weak to achieve its basic foreign policy objectives regarding Iran.

(Excerpt) Read more at washingtonpost.com …

 

[JimG]

This will make production of oil from Canadian oil shale even more economically feasible.

 

[Ani_Ibi]

“U.S. power and influence has declined precipitously because of Iraq and the war on terror and that creates an incentive for anyone who wants to make trouble to go ahead and make it.”

But because the US has made inroads into establishing democracy in Iraq and bringing terrorists to justice, that incentive comes with a lethal price tag.

"$262 / barrel oil".

For these reasons and because a couple of Republicans might want to get reelected, Bush isn’t going to attack Iran, no matter what someone from Texas says.

JimG:

This will make production of oil from Canadian oil shale even more economically feasible.

For sure oil is going to cost more, because it costs more to extract the oil from the oil sands. But at least we’ll have oil. We’ll need to be looking at alternative forms of energy in order to augment oil use, not to replace it.

If you think you can forestall stopping Ahmadinejad in his tracks by threatening to throw the Republicans out of power: you’ve misread the response to this situation. Iran is widely condemned for its sabre-rattling. And what do you think the effect of holocaust denying will be on general opinion?