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Friday, February 22, 2008

Oil prices might rise from today's $98 / barrel soon

This is immediately attributable to the fact that Turkey's troops have crossed into Iraq's Kurdistan. Kurdistan is oil-rich.

More than that it has high oil potential reserves. Are they after Iraq's Kurd-dominated Mossul, Kirkuk oilfields ?

Factor in also the Iranian unrest.

Escalating demand expectation from India after launch of world's cheapest car.

Venezuela - Russian agreement.

And, as I said earlier.....realization sinking in that the Earth is running out of oil that can be extracted profitably.

My global friends might start buying oil even at this price -)

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