35 comments on This Week in Petroleum 2-27-08
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35 comments on This Week in Petroleum 2-27-08
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" 1.) Incident in ME between US and Iran. Is tense one wrong move and problems."
This one is totally our doing. Iran has no desire for an incident, but we sure seem to.
" 3.) Venezuela attempting a embargo."
Again, if they embargo us, it'll undoubtedly be because we asked for it again and again.
" 5.) It has new empty capacity that needs to be filled.
Knowing the government five is probably tops."
The SPR is a small drain on supplies and, in my opinion, it's well worth filling even with $100 oil. It's there to guard against supply disruptions, not to turn a profit.
That must be why Iran was getting confrontational with 3 US warships (cough).
Yeah, asking Venezuela to either stick to the terms of contracts signed by Chavez or pay market value for assets they're taking is the behavior of capitalist running dogs.