Friday, October 26, 2007

Oil to Highest Level Since Iran Cut Supply in 1981: Paradox ?

Oil rose to its highest inflation-adjusted level since March 1981, when Iran cut supply, two months after Ronald Reagan was sworn in.

Yesterday, prices passed the previous all-time inflation- adjusted record reached in 1981 when Iran cut oil exports.


Is is a paradox that the very same day the U.S. announces sanctions aimed against Tehran, oil is at its highest level since Iran cut exports in 1981 ? Is that why we have to remain in Iraq, to ensure that financial markets, investors, and consumers are not so adversely affected that a full-scale World War might become increasingly unavoidable ?

No comments: