PNAC path for 7 middle east wars, took production out of Iraq and Iran as the big ones. Big price boost. It is only recently that Iran sanctions have been ignored by Asia.
Opec held back production to drive the price to 100 a barrel. American fracking broke OPEC and forced prices down to 30 a barrel. It is slowly climbed with inflation. Even so, america kept the straits open for this oil to be shipped.
All good points. Before 2001, oil prices were around $10/barrel. The middle east wars were designed to pump them up.
Or China and Indias rapid growth economies did that but you do you.
PNAC path for 7 middle east wars, took production out of Iraq and Iran as the big ones. Big price boost. It is only recently that Iran sanctions have been ignored by Asia.
Opec held back production to drive the price to 100 a barrel. American fracking broke OPEC and forced prices down to 30 a barrel. It is slowly climbed with inflation. Even so, america kept the straits open for this oil to be shipped.