Bob in VA
2009-07-11 08:37:00
Could a much simpler explanation be that China appears to be the only market devouring Mid-east oil? Wtih the global recession, the price per barrel has plummeted the last few weeks. Mid-east emirs need the dough to keep their populations in check. In China, the emphasis is always on stabilitiy (no rocking the boat). The Mid-east emirs know the same lesson – stability – keep their citizens happy with the windfalls from oil sales or else face what Iran regime is facing.
