The Price of Oil (and thanks, Jim H)

[DamonMac at aol.com]

The US power structure wants stable oil prices as well (at least above $10 a
barrrel) because low oil prices causes political instability/unfriendly
regimes to take power (look at recent Venezuelan political events) in oil
producing states.  The low price also inhibits expanding
production/exploration of new fields in this capital intensive industry.  The
Arab Anti-defamation Committee just hosted a panel discussion about this
latter point.  I think this is one of the main reasons the US has been pushing
for the sanctions so hard; they fear prices/barrel in the single digits.  This
was also mentioned in the latest Middle East Report.

Damon Fodge