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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (68533)	8/20/2006 1:11:50 AM
From: regli	Respond to of 110194

"I don't think crude in Indonesia, Venezuela or Nigeria requires such high prices as we have now -- it's not that marginal?? " This section should give you an idea as to why much lower crude prices could result in lot of trouble in Saudi Arabia and many other places: en.wikipedia.org "... In the 90's, Saudi Arabia experienced a significant contraction of oil revenues combined with a high rate of population growth. Per capita income has fallen from $25,000 in 1980 to $8,000 in 2003, up from about $7,000 in 1999. The decline in inflation-adjusted per-capita income from 1980 to 1999 set a record, being by far the worst such decline suffered by any nation-state in history. ..."