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Politics : Foreign Affairs Discussion Group
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To: Hawkmoon who wrote (199510)8/26/2006 2:26:51 PM
From: Ichy Smith  Read Replies (1) of 281500
 
But right now, there would seem to be at least a $10-20 political risk premium in the current price of a barrel of oil, and I think that is detrimental and is a bubble that needs to be deflated.

Unfortunately, the current political crisis over Iran and their nuclear programs, as well as Ahmadinejad's rantings and ravings about "ushering in the advent of the Mahdi" make this unlikely anytime soon.

I, on the other hand would like to see a higher oil price. A reduction will just let people think they can get another SUV. A longer period of really high oil prices would force the Governments of democracies to push for innovation and to help the process along. There really is no reason for countries like Germany and Sweden to be further along than Canada and the US in alternate energy progress.
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