Wednesday, December 31, 2008
If oil stays low . . .
Here's a link to my recent piece for Antiwar.com, suggesting that if the price of oil stays low for the next year or so, it will have mostly a beneficial impact on the United States and to some extent on the prospects for reducing confliuct in the world. Venezuela and Iran will be the biggest losers and Russia will have less flexibility. A fair number of experts think the price of crude will stay below $40 a barrel or even lower and that the run-up earlier this year was the anomaly. Don't know for sure, but I kinda hope so.