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Originally Posted by www.sega.co.jp
I'll put it simply, any time there's negative news about the Middle East (such as the attempted bombing of a Saudi refinery, the Dubai port takeover, and possible Iraq Civil War), gas prices climb. They do so because oil companies know that most people will accept the climb due to hostile conditions in the supposed world capital of oil output.
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No, there's small price hikes
because of those situations. Not because people will accept them. There's so little spare capcity right now. Any little negative effect on production will affect prices. So of course a attempted bombing of a Saudi refinery, (HOW MUCH DAMAGE?!) or news of a civil war in Iraq, (WHAT ABOUT PIPELINE DISRUPTIONS?) or the
big one you missed;
War with Iran. (OIL EMBARGO?!) could cause a small increase, it not a outright jump in oil prices.
Then there's the small one everybody seems to misses; Chavez threatens to stop shipping oil to the US and to close down Citgo refineries in America.
I am a dolphin, do you want me on your body?