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10.7.08

On OIL and Index Speculation ...1

In a way it captures the irony of our times. Isn't it a bit strange that Saudi Arabia, the perceived beneficiary of the relentless oil price hike, should host a summit expressing 'concern' on the rising oil prices? This high-profile summit was held in Jeddah, Saudi Arabia, last week after crude prices more than doubled over the past twelve months, stoking inflation and hurting economies across continents, ostensibly to diagnose the problem and possibly prescribe solutions.Read further

http://www.rediff.com/money/2008/jun/30mrv.htm

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