08 July 2008

Iran war speculation and oil prices

Ron Paul, the US senator who was running for the Republican Party's presidential candidate has said that speculation about an Iran War is driving the oil price up.

Informed Comment: Paul: Iran and Energy Crisis:
Ron Paul on Iran and the energy crisis. He argues that speculation about a US or Israeli strike on Iran is driving some of the increase in oil prices.

The OPEC president should know a thing or two about what drives oil prices and he agrees.

The speculation has been going on a long time ago -- according to some, the war should have started two years ago or more, so it can't be the only thing that's driving the oil price up.

Hat-tip to Mard.

1 comment:

seev said...

Thanks for the hat tip, Steve. Yes, Ron Paul makes a lot of sense in some areas. Too bad he's a nut in other areas.


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