Tuesday, May 16, 2006

Iraq's oil: A neo-con dream gone bust by Peter Kiernan

Crude-oil prices hit a record US$75 per barrel in late April, a level nearly three times the prices seen just prior to the US-led invasion of Iraq in March 2003. Although oil prices have slipped a few dollars since then, the bullish price environment is not something the Bush administration banked on when it launched the military campaign to oust Saddam Hussein from power three years ago.

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