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Iran, Oil Prices and Gambling with the World Economy
The White House last week acknowledged problems in the global oil market but said the situation was secure enough to move ahead with tighter sanctions against Iran. President Obama said he was confident about the current state of the global economy and had assurances there was enough spare capacity to buffer against a severe shock to energy markets. The measure is meant to ensure Tehran doesn't have the finances to back what's seen as a nuclear weapons program. It might be something of a political and economic gamble, however. Obama had until…Read more...
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