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Can Saudi Arabia contain crude oil at $80 per barrel?

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Can Saudi Arabia contain crude oil at $80 per barrel?

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It’s no accident that gold demand from the Arabian Oil kingdoms is rising, with the price of crude oil climbing above $80 per barrel and the US Dollar index is sinking below the psychological 80-level, stoking higher inflation in the Persian Gulf. Most ominously, the US Dollar is sinking to 15-year lows, even before the Bernanke Fed speeds up the growth of the M3 money supply into the “Twilight Zone”. Though world oil prices have quadrupled since 2002, when adjusted for inflation the price is still below the $90-a-barrel peaks of the Iranian Revolution in 1979. Could this explain why the Dow Jones Industrials and other global stock market indexes have not shuddered at the sight of crude oil soaring to $82 per barrel? Remember, when oil prices hit $40 per barrel it sent global stock markets into a frightful tizzy. OPEC has agreed to boost its oil output by 500,000 bpd to temper any speculative rally in crude oil above $80 per barrel. But such action won’t take place until November, when

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