Today's increase in oil prices by speculators is more than an exercise in price gouging and trader profiteering. It's a strategic run up to a war of aggression against Iran.
This market rally serves the dual purpose of pillaging consumers and taking the sting out of any future production cuts Iran might implement if faced with imminent sanctions.
Notwithstanding the possibility that REAL shortages could affect prices, we all know that supply and demand has little if anything to do with energy prices.
Andrew Lebow of Man Financial in New York admits that "the market is 'completely decoupled' from supply and demand."So, crude oil prices are approaching $69 a barrel even though, this morning, Iran merely proposed that OPEC cut production.
Not only does bidding up the price rake in the profits for traders and take the sting out of Iran's threats to cut production, but as an added bonus, it primes consumers for a war of aggression against Iran by hitting them where it hurts the most, in their wallets.
By the time oil approaches $90 a barrel, Americans will be so hostile towards Iran any pretext will be enough to send the troops in guns-a-blazing.
If I'm right, we're looking at sustained price increases for the foreseeable future, in the run up to a war against Iran.