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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (284499)4/19/2006 12:50:55 AM
From: tejek  Read Replies (1) of 1572772
 
re: This is the third time crude has come back up to the $70 level. If it closes above $70.85, the next leg up is very likely.........that most likely means $100 per barrel by next fall.

All that money out of our economy and into the mideast governments pockets, including Iran. With less than 5% of the world pop we are using 25% of it's oil... we are the problem. If Iran cut it's production by 50% tomorrow, we would be in deep shit.

Well the third time was the charm. As I posted to CJ, oil closed today at $71.35 and looks to be ready to break out into another leg up. Its not horrible yet, but its getting dangerous.

And yeah, we are making a lot of countries rich with our addictions.
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