03/20/08: Oil prices

Have fluctuated above $100/barrel because of speculation. Although I do believe we're going to peak in the next decade or so, there's probably enough oil in the ground to keep running the economy this way for awhile (not that we should if we're smart). Another part of the problem is that Iraq, the number 2 in terms of world reserves, has terrible oil production due to our invasion & occupation. If Iraq were pumping at full capacity oil prices would probably be far lower at this point.

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