[R-G] OPEC in crisis OR speculation and militarism

[CeJ]

http://news.yahoo.com/s/ap/20071117/ap_on_re_mi_ea/opec;_ylt=AkI6kDwG1RpJprsHtugAwi9vaA8F

excerpt
>>It was the third full OPEC summit since the organization was created in 1960.

The run-up to the meeting was dominated by speculation over whether
OPEC would raise production following recent oil price increases that
have closed in on $100.

U.S. Energy Secretary Samuel Bodman called on OPEC to increase
production earlier this week, but cartel officials have said they will
hold off any decision until the group meets next month in Abu Dhabi,
United Arab Emirates.

They have also cast doubt on the effect any output hike would have on
oil prices, saying the recent rise has been driven by the falling
dollar and financial speculation by investment funds, rather than any
supply shortage.

Saudi Arabia opposed a move by Iran on Friday to have OPEC include
concerns over the falling dollar included in the summit's closing
statement after the weekend meeting.>>


My comments:


That would be an interesting investment/speculation strategy. Bet that
the price of oil will go up and then politically support an attack on
Iran and/or Venezuela. Even if the US 'ratcheted' up its constant
pressure on these countries, it might create enough of an atmosphere
of 'crisis' that the price of oil would go up as more speculators
bought into the scenario.

Another nice marriage in the US's end of time capitalism: speculation
and militarism.

CJ