$100 Oil Will Mean Greater Instability in Fuel-Subsidizing Countries

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By now, after years of skyrocketing fuel prices, the news that the price of a barrel of oil is hitting $100 doesn’t exactly cause panic. When you consider that a barrel of crude cost just $11 in 1998, and double that at the beginning of the decade, the truly astonishing development is that our lives have changed so little as a result of the higher prices. And yet, as some oil exporting countries swim in the riches of our gas money, the consequences of $100 oil are not always what you — and they — might expect. Soaring prices at […]

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