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Levantine Shore
Wednesday, 17 September 2008
Oil prices drop
"An oil drop of $30 a barrel is significantly more damaging to Iran's economy than U.N. Security Council sanctions," said Karim Sadjadpour, an associate at the Carnegie Endowment for International Peace. "That's a loss of about $75 million per day in oil revenue. A further drop in prices could play a decisive role in the June 2009 presidential elections, for it could deflate [President Mahmoud] Ahmadinejad's populist agenda."

Falling prices could alter corporate agendas, too, though the rise and fall of oil prices have been so sudden that most energy companies, which usually make conservative price forecasts, have said their plans are not changing.

Posted by red.carlisle at 9:57 AM EDT
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