May 03, 2011

Al Qaida Retaliation Would Drive Spike In Oil Prices

Global oil prices could rise and become even more volatile if al-Qaida terrorists in the Middle East try to avenge Osama bin Laden’s death.

Many energy security experts caution that it’s too soon to make a judgment either way on what long-term effect bin Laden’s death will have on oil prices. Indeed, global oil prices are high largely because of the political revolutions occurring in countries such as Libya that are not directly connected to recent terrorism. Nonetheless, bin Laden's death has intensified the focus on the connection between Middle East geopolitics and oil prices.

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