Quote:
Originally posted by Razor
Please explain to me how the GWOT has caused gasoline prices to rise.
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The recent terrorist attack on the port facilities caused a temporary shutdown in the Iraqi port, and revamping of security there.
The big thing that it did was to raise insurance rates in Iraq and the area tremendously. It actually hit the point where it was not economically feasible to ship Iraqi oil, till rising prices change that.
It MAY have caused Moslem OPEC nations to adopt a harder line on production and pricing, but that is speculative.
This has all caused futures traders to bid up the price of crude and refined gasoline to record levels, as they speculate that prices will continue to increase.
TR
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De Oppresso Liber 01/20/2025
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