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Unformatted text preview: possible incursion into north Iraq by Turkey. Antoine Haliff, a market analyst, said that prices will drop once people realize that supply will not be affected. The demand for oil has dropped since the end of the summer driving season. While prices have been rising the supply of oil has not decreased. Analysts claim that the rise is just market speculation and will end soon. What I want the class to get out of this was that foreign demand for oil only increases our costs. Also war can increase our demand, thusly making the price higher. Only by tapping into our own supply of oil can we significantly lower our demand of foreign oil and prices of crude oil....
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- Spring '08
- Economics, Saudi Arabia, crude oil