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Hugo Chavez

Dictator?

Get real. The only dictator in this world stays at 1600 Pennsylvania Ave.

Ask the rest of the world if you doubt it.

David3

Lower oil prices translate to lower gas prices which translate to lower subsidies paid by these "dictators" in order to keep gas prices low. If these subsidies paid to keep gas artificially low had been reduced due to high oil, gas costs would have gone up and then this would likely create a greater chance of riots by the "people." I.E. "places" such as Venz. and Iran.

DH

oil an ally - one more reason for renewable energy - it will put the pin in oil based dictatorships

egoist

better to say, oil is ally of moment.
as low it will go down - as high it will go up in future

anonymous

When you say the price of oil is in the mid-30s, you're refering to the Nymex light sweet crude (WTI grade), which is artificially low and disconnected from market fundamentals due to storage capacity and logistics bottlenecks at Cushing, Oklahoma, where physical delivery must be made. The Brent price is about $10 higher, and is right now a much more meaningful benchmark.

This price spread is a highly anomalous situation that cannot be expected to last. See FT Alphaville for more, Izabella Kaminska has been covering this lately: http://ftalphaville.ft.com/blog/2009/01/15/51192/wti-about-as-useful-as-a-chocolate-oven-glove/

hr

"Who would have thought oil could be such a key ally of the US!"

This guy wrote about it:

The Oil Card
Global Economic Warfare in the 21st Century
By James R. Norman

"Challenging the conventional wisdom behind oil pricing, this compact book sheds an entirely new light on the workings of "free" commodity markets and oil industry supply and demand "fundamentals." Its purpose is to look at the use of oil as an economic weapon."

More at http://theoilcard.com/

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