Vast liberalization and democratization in the Middle East could be positive for oil production in the long run. Just look at what happened in Russia and Iraq.
The price of oil is already indicating to us that the current turmoil in the Middle East will not be resolved in the short term. Prices of most major grades of oil spiked last week after tensions heightened in Libya and, although they’ve retreated a bit, they remain volatile.
Read the Fortune article at CNNMoney.com.
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