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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (47108)	10/20/2004 12:09:52 PM
From: IQBAL LATIF	Respond to of 50167

Good coverage... iranian.com (Good-bye) party time Fault lines as oil rises above $50 a barrel October 20, 2004 iranian.com During the first eight months of this year, the price of oil has risen to nearly $55 from just under $29. For the last 30 years, the price of oil has been the single most important determinant of the economy and the stock market. However, there is something amiss in this whole equation of steep oil price rise. Whilst in the short term it provides opportunity, to me, in the long term, it sounds like a death knell for OPEC. dailytimes.com.pk VIEW: Oil at $50 no party time for OPEC —Iqbal Latif OPEC members with minuscule reserves need prices to remain high for the next twenty years. After that they will run out of their reserves. However, Saudis, Iranians, Iraqis and Kuwaitis who have reserves that will last beyond five decades will benefit most from more balanced prices During the first eight months of this year, the international price of oil per barrel has risen from just under $29 to nearly $55. For the last 30 years, the price of oil has been the single most important determinant of the economy and the stock market. However, there is something amiss in the steep rise. While in the short term it provides an opportunity, I believe, in the long term, it sounds like the death knell for the OPEC. iranian.ws Fault lines within OPEC "Why the big "reservist" Saudi, Iran, Iraq and Kuwait should be worried about higher oil prices?" Oct 18, 2004, 22:06 Iqbal Latif Oil above $50- And no one is even partying! During the first eight months of this year, the price of oil has risen to nearly $55 from just under $29. For the last 30 years, the price of oil has been the single most important determinant of the economy and the stock market. However, there is something amiss in this whole equation of the steep oil price rise. Whilst in the short term it provides opportunity, to me, in the long term, it sounds like a death knell for OPEC.