Zeev's Turnips Patch-No Politics (ZEEV)

[mav]

History indeed supports the OPEC chief. The 1991 Gulf War saw oil prices plunge from a peak of more than $40 a barrel to $18 once dealers were convinced that allied bombing of Iraq and its forces in Kuwait had destroyed any threat to Saudi oil supplies and the International Energy Agency made an emergency release of stocks. Oil market analysts share Attiyah's expectation of lower prices.

A Reuters poll of analysts projects that world oil prices, now at two year highs, are set to slump by $10 a barrel in the second half of the year after any US-led war against Iraq.

that's comforting. probably from the same egghead experts who formed a concensus that we were CERTAIN to have an economic rebound in january of last year.

call me skeptical.