Opinion

$100 per barrel, should we be surprised? Of course not! Yes, I’m talking about oil, and the disintegration of Western economies, particularly that of the United States. There is little doubt that oil will exceed $100.00 per barrel in 2008 – if it is still tied to the dollar at that point – and that may only be a passing price as it goes even higher. This reality should surprise no one: it has been building since the Arab oil embargo of the 1970s and is continuing according to verse and chapter revealed during that crisis. Oil reserves are actually higher now than in the 70s but the global marketing of oil has changed – and the politics of oil are worse than ever for the USA.