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By jb (anonymous) | Posted December 20, 2008 at 16:11:02
Adding another 2 cents worth to my previous post:
Just as consumer states have allowed themselves to become dependent on cheap oil, many producer states have allowed themselves to become reliant on the easy money provided by these resources to the point that political and civil stability cannot continue without it. So as we are willing to pay any price to obtain oil for survival, producer states desperate for income are willing to sell at any price for survival regardless of demand or future worth.
All this adds to the volatility in prices as we bump against the peak. We are in for a rocky road ahead.
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