The $100 Barrel of Oil

Will oil hit $100 per barrel?

That, surprisingly, is an easier question because there is one indicator that may give you a pretty good idea: the U.S. response to Iraq’s civil war.

To date, the U.S.’ Iraq strategy has lagged fatefully behind conditions on the ground. If we continue on our current path, the risk is high that the present civil war will pull in neighboring countries and drive oil prices to record levels. If we change course and adapt our strategy to the facts on the ground, that risk may be reduced. But that would require serious change of perspective in the White House.

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