Does Iran have Bush over a barrel?

Does Iran have Bush over a barrel?

By Jim Lobe

July 2, 2008

World oil prices have risen by nearly 50% since the beginning of 2008 and nearly doubled over the past year. Analysts have argued over how much of that increase is due to structural factors in the world economy - such as growing demand in middle-income countries and the depreciating dollar that would tend to make the price increase permanent - and how much is related to worries about possible supply disruptions arising from the kind of conflict that has plagued the Niger Delta region in Nigeria, terrorist attacks by al-Qaeda in the Gulf, economic or other sanctions against key oil-producers, or war.

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