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I must say that some of this 3rd party intelligence stuff regarding Saudi
Arabia, murmurs out of the anti-Iraq side of the Bush administration, and
Israeli actions (e.g. last night's assassination of Hamas leader) are giving
me the creeps when it comes to oil! Rick Simmons (a very respected
investment banker specializing in energy) wrote a piece 16-18 months ago
regarding the prospects for repeat of early 70's oil supply/price shocks.
Prices followed his script until the recession brought down demand but now
his ME scenario is perking away. It's not so much that the ME powers don't
need the cash flows but that politics appear to increasingly threaten oil
supplies whether it be an attack on the Alaska pipeline, overthrow of a ME
government, or terrorist attacks on ME oil fields or shipping terminals.
Earl
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