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Oil could reach as
high as $4.37/gallon
by Noble
DraKoln, futures analyst
Over 30 years ago, October
17th 1973, The Organization of Petroleum Exporting Countries
(OPEC) shut the valve on oil to the United States.
The price of a gallon of
gasoline went up by 400 percent. United States Citizens were
forced, by law, to conserve energy. What triggered that event,
the Arab-Israeli war.
It's starting all over again.
President Bush is frustrated at our inability to bring Iraq to
stability even though we have placed 250,000 troops in the
area.
On the other hand, our Arab
allies are frustrated that Bush is uninterested in completely
resolving the Israeli-Palestinian conflict and the failing
occupation of Iraq.
In their minds, the United
State's war against Iraq and Israel's war against Palestine are
linked, and they are beginning to come to the same conclusions
that Saudi Arabia's King Faisal came to in 1973.
With just the hint of war, we
have already seen the price of gas go up 69 percent and the price
of a barrel of oil reach $40. When that first shot was fired, a
barrel of oil soared in price. Now that we can not stabilize the
region, as one shoe leads, the other follows.
The Arabs will finally protest
against the mismanagement of Iraq and the failing resolution of
the Israeli-Palestinian conflict, not with picket signs, but with
an oil embargo. Oil can easily reach $50-60 per
barrel.
Gas at the pump could be as
high as $3-4/gallon. Only savvy investors will know what to do.
In fact, United Parcel Service, along with other major
corporations, have already purchased gasoline future contracts to
protect themselves.
About the Author
Noble DraKoln is the author of the best-selling books Futures
For
Small Speculators and Single Stock Futures For Small
Speculators,
available on http://www.amazon.com. He has been a futures investor,
broker, and analyst for almost 17 years.
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