Summary
The terrific spiking of oil prices over the past several weeks and months gives pause, and no doubt continue upward at least in the short term. Having said the obvious, does this provide the basis for still another doomsday theology?
No way: those who argue we are even close to a grinding, depression causing crisis are (a) the usual suspects, and (b) unsurprisingly, wrong. Before anyone decides to stockpile filled oil drums in the backyard, it would be useful to consider the following.See the full content of this document
Extract
Petro Sky Not Falling
(1) Those who wish us ill will not dare not push us to the wall. Can it be seriously argued Tehran's mad mullahs, despised by 70 percent of Iranians, will refuse to sell oil on the world market and thus plunge its alr...
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