15 April 2006

From Iran to Chad, It's Really Bad

Resource Investor - Energy - Peak Oil Passnotes: From Iran to Chad, It's Really Bad: "PARIS (ResourceInvestor.com) -- If the markets could behave like a rational entity we would already be at $80 oil, no problem. Of course we know markets do not behave rationally, instead they have a kind of menopausal myopia. Fixated on one topic one minute, hysterical about another the next.
Thus they have ignored a welter of events that theoretically should have pushed price way over $69. First, it appears very likely that one insane African leader, Obusanjo of Nigeria, is going after a third term in office. His front companies have not quite looted enough of the country's oil wealth for his manic greed, so another four years should set his family up nicely for the next 150 years or so. That is if he is able to pull it off. "

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