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RIYADH, Saudi Arabia — In his opening address of a rare OPEC summit, Venezuelan President Hugo Chavez warned the United States on Saturday that oil prices would further surge if the U.S. contemplates an attack against his country or Iran.
The summit of the Organization of Petroleum Exporting Countries opened Saturday in Saudi Arabia, with heads of states and delegates from 12 of the world's biggest oil-producing nations listening to a recitation from the Quran.
After the quotes from Islam's holy book, Chavez warned that the U.S. should not target OPEC members for foreign policy reasons.
"If the United States attempts the madness of invading Iran or attacking Venezuela again, the price of oil is probably going to reach $200, not just $100," Chavez said.
We've listened to Castro warn of American attacks for forty-some years as a way to keep his sheeple in line. It's not like Hugo is any different -- he's a tin-pot bully with a sure-fire bogeyman to inspire paranoia in the masses.
In all seriousness: if it indeed takes oil going well past $100 a barrel to break our dependence upon the 'crack pipe' of OPEC-------so be it.
It is not as a nation were have not been warned over the last year or so with $3 a gallon gas prices.
I may have an 11 MPG SUV: but; I paid $1,500 cash for it and my commute to work is 5 miles each way so I can easily justify the 'beast'.
Quick math, here. 10 miles a day, 240 working days, 2400 miles, divided by 11equals about 240 gallons a year, at $4.00 a gallon equals $960 bucks. Jeez, Bear! Even without vacations, you damn near buy that gas hog again every 18 months!
And that's not counting oil. Good thing it's so tight....
I read an article a while ago about our military converting all of our jets, and our military hardware to run on several other types of fuel. The military we have is not stupid, they will make the machines for our defense work with or without oil.
This isn't news. If its breaking news that the sky is blue, then its news to know that if we attack Iran, gas prices will go up.
Speculation, gotta love it.
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