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The price of Oil and the cause of War
Oil is the major comodity traded worldwide. Prices reached $147/Barrell at one time and now around $85/Barrell. Countries who have it are rich.
USA, the largest consumer of 19 Million Barrels/day, took steps to reduce the consumption.
The IEA anounced that USA would be a major oil producer, exceeding Saudi Arabia, by 2020 and energy suffecient by 2035. This may happens sooner if we turned to Natural Gas.
Iran can't sell enough oil to support its economy due to the current embargo.
The Gaza rockets attack on Israel and the expected retaliation increases oil prices up $4/B but is going back.
As the oil supply increases, and USA's utilization decreases, the Middle East will change dramatically. It will quite down the desire for war.... greatly. The oil becomes a regular, low price product with no connection to any conflict. A boring time for many.
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