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Edited on Fri Jun-22-07 10:32 AM by mmonk
countries reaches peak oil status, you will see a big shift to other areas of the world for extraction. You'll also see a huge upsurge in costs that will hurt the profit margins oil companies enjoy. At that point is when it will get more dicey. Right now, our move into Iraq, the Caspian areas and other places is driven both out of current greed and current geopolitics of hegemony and the way the US uses OPEC to its benefit. Once that shift occurs, the US hegemony will begin to lose some of its grip depending on where the new explorations reside and our control in who does the extraction and what the terms will be.
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