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Few would argue that oil plays a major role in all decisions pertaining to the Middle East. We hear rhetoric about liberties and stability but oil is at the center of every action.

Despite only accounting for a 1% drop in oil production, the effects on prices are fueled by fear of unrest, potential regime changes, and the omnipresent possibility of the region (literally) exploding under politically- and religiously-charged wars.

This graphic by our friends at 1bog puts much of it into perspective with a timeline of recent events in the Middle East that have fueled the acceleration of hostilities and increases in gas prices. Sorry for the small lettering - click to enlarge.

Originally posted to JD Rucker on Fri Mar 25, 2011 at 12:54 AM PDT.

Also republished by Foreign Relations.

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Comment Preferences

  •  Interesting to see a price jump at the (2+ / 0-)
    Recommended by:
    blueoasis, A Voice

    allegation by Gadhafi that the rebel opposition is organized by al Qaeda and bin Laden ... apparently it's enough for people to think that we might go ballistic on the basis of something said by an unreliable source.

  •  I couldn't disagree more... (0+ / 0-)

    there are all sorts of reasons US policy has taken the form it has, and the markets are markets. They hardly ever act rationally, they are subject to group-think and tend to magnify trends as more players jump on the bandwagon trying not to miss out on a perceived profit scenario. It's a nice graphic, but meaningless. One may as well try and connect these events with rainfall totals in Brazil.

    This is about about good government, politics and power vs. stability in the region. What it is not about is us and our energy security. Or about the machinations of oil companies. People should resist the temptation to make this about us. It's not.

    The US position and its implementation is, to some extent, defined by oil politics, but it's also defined by the I/P conflict, stability in the region, the distaste we hold toward Gadhafi, our policy regarding Iran and the war on terror. to the extent we are risking the global economic recovery and our own well-being we are acting against our own pragmatic interests and trying to do the right thing as we understand it.

    "The cure for bullshit is fieldwork."
    Robert H. Bates, Eaton Professor of the Science of Government, Harvard University.

    by papicek on Fri Mar 25, 2011 at 08:18:14 AM PDT

  •  republished for discussion purposes...n/t (0+ / 0-)

    "The cure for bullshit is fieldwork."
    Robert H. Bates, Eaton Professor of the Science of Government, Harvard University.

    by papicek on Fri Mar 25, 2011 at 08:23:31 AM PDT

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