Across the globe, oil/gas supply at risk

[katty]

cont'd: http://www.msnbc.msn.com/id/12646598/

Across the globe, oil and gas supply at risk
Energy security has moved to top of government agendas

Updated: 2:00 p.m. ET May 5, 2006
VIENNA, Austria - Unrest in Africa. Mideast insurgency and terrorism. Iran’s nuclear brinkmanship. Russian pressure politics. South American resource nationalism.

Piece by piece, the global energy puzzle reveals a bleak horizon for a world frantically searching for secure oil and gas supplies.

Concerns over Iran — the world’s fourth-largest oil producer — have been the prime factor recently in driving crude prices to record levels and, combined with tight global refining capacity, for pushing U.S. gasoline pump prices above $3 a gallon in many places.


With the U.N. Security Council deadlocked and Tehran refusing to cease uranium enrichment, there is no end in sight to the struggle or the upward price spiral.

A barrel of crude was trading around $70 a barrel Friday. But Iranian officials this week predicted prices as high as $120 — a forecast some experts share.

[cliss]

1. In case anyone is scratching their head

and wondering, "what is going on?" Why is Cheney threatening Russia? why is Iran doing an One-upmanship about nuclear power? Why is the US beating the war drums non-stop? What is going on in eastern Europe?

Why are they acting so strange?

Answer = it's all about oil. Now add in Peak Oil and everything suddenly becomes crystal-clear.

Thanks for posting, katty.

[katty]

2. agree-OIL OIL OIL