US demand reduction, such as what surprised the Saudis in the 1980s, doesn`t matter any more. Burgeoning demand by developing nations, and Chindia will maintain current prices, so that the US can`t force a price collapse.
Saudis are putting self-interest first. There is also some doubt that they actually can increase production on the longer term.
The Iraq war was only the first energy war. We should focus on Russia to see where else there will be major conflict, economic or military. |
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