Chávez sees oil at $200 if Iran invaded

Chávez sees oil at $200 if Iran invaded

www.ft.com

Hugo Chávez, Venezuela’s president, has warned that oil prices could reach $200 a barrel if the US invaded Iran.

He also said that Venezuela would propose at the Opec summit this weekend a new method for measuring the price of oil and a formula to protect poor countries from rising prices.

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Chavez: oil will hit $200 a barrel if U.S attacks Iran

Must be another meeting of OPEC coming up.

Deja Vu all over again, he was saying this a year ago.

But it seemed like less of a reality then.

His second statement should be the root cause for concern, IMHO.

If he convinces OPEC to dump the oil-backed dollar, then it'll really get interesting.

www.ft.com
(visit the link for the full news article)