The move was seen as a sign that the Saudis are becoming increasingly nervous about both the political and economic effect of high oil prices. In recent weeks, soaring fuel costs have incited demonstrations and protests from Italy to Indonesia. Full Story »
Posted by Beth Wellington
This is not a bad story, so far as it goes. Its main fault is a lack of any analysis, in particular its lack of any effort to adjudge the relative merits of the causes being proposed as the reasons for the runaway increases in the price of oil; it mentions both speculation and tightening oil supplies, but doesn't attempt to balance the two. Worse, it doesn't at all consider the roiling of world oil markets caused by the militarism of the Bush regime (both with regard to Iraq and the threats against Iran.) USEFUL BUT LIMITED
