THE SPINE NOVEMBER 21, 2007
Oil approached just short of $100 a barrel. That is, within pennies. The stock markets fell...drastically. When West Texas Crude hits $100 the markets will fall even more. The governments that are most delirious are the Chavez regime in Venezuela and the Islamic dictatorship of Iran. It is, after all, another blow to the United States. This is not something that Saudi Arabia desires. They want to maintain the link to the dollar and they have no interest in propelling these deeply radical states.