Russia warns on $150-$200 oil
Russian finance minister Alexei Kudrin warned today that oil prices might rise to between $150 and $200 a barrel because of the turmoil in the Middle East and the devastation in Japan.
“The growth will be speculative and short-lived,” he cautioned.
Last week, Steve Levine wrote an informative essay exploring the question: with all the madness going on in the world, why isn’t the oil price higher? You can read it here.
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