Oil Prices: Don’t Blame OPEC

Posted by Matt in October 30th, 2007

Attiya says that rising prices are the end result of crises in places like Iraq, Iran, Venezuela and Nigeria, which “create more fears, and speculators are very smart. They jump into the market and take this factor and create it as fear. They try to frighten the world. ‘Oh, maybe the oil will be disappear. Oh, maybe there will be a war.’ But with all the fears of the world, still the supply is very efficient.”

Map for Baghdad, Iraq

[Countries link to CIA Factbook. States link to Wikipedia.]

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