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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: tom pope who wrote (72922)10/6/2006 11:04:12 PM
From: Spekulatius  Read Replies (2) of 206121
 
Recently, Michael Economides said there were three things that could send oil soaring to $100: If Israel attacks Iran preemptively, an Al Qaeda terrorism attack on the Saudi oil, infrastructure; or if Hugo Chavez starts sells the majority of Venezuela’s oil to China. What are your thoughts on this?

I say this is nonsense. None of these events will sent oil up to 100$, except for a very short lived speculative spike.

If Israel attacks Iran .. and Iran does not need any Petrodollars? Huuh?

Al Qaeda terrorism attack on the Saudi oil how much can Al Qaeda really destroy in one attack? The psychological impact will be very short lived, the economic impact will be zero.

Hugo Chavez starts sells the majority of Venezuela’s oil to China ... and China in this case does not need to buy it's Oil from their current sources. Net effect is zero, IMO

Supply and demand drives oil prices not any of the above.
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