| "No one knows just what a war would bring, of course, or what the effect would be on oil supplies. Some analysts, looking at the bidding in the oil markets so far, say the price could [increase by 65%]."
That was a quote from The New York Times ... on Sept. 28, 1990. The Iraqi invasion of Kuwait and the subsequent threat of NATO intervention had sent oil prices soaring 166% higher than prices only three months prior. Pundits and analysts in the article were pontificating about the possibility of $100 oil, which would have quite possibly created a global economic collapse, considering prices in July 1990 were in the $16 range..............................................Full Article: Source
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