[lbo-talk] Saudis Waging an Oil War on Iran?

[Doug Henwood]

Maybe, who knows? But I've been following this stuff for over 20  
years, and I'm impressed by how someone always has a political  
explanation for movements in oil prices (and how you can always find  
a trader or two to tell the story you want to hear). Like evolution,  
sometimes stuff just happens. In this case, prices of $70 or more are  
not in the Saudis' long-term interest; they encourage alternatives  
and declining demand. Prices of $50-55 are not cheap by the standards  
of recent decades, either.

I thought oil prices were supposed to go up after the November  
elections, because Dick Cheney had driven them down to elect  
Republicans.

Doug