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The Wobble Before the Fall.(petroleum prices)(Brief article)
Newsweek International, February, 2007 by Bahari, Maziar; Gunson, Phil; Matthews, Owen
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Byline: Owen Matthews, Phil Gunson and Maziar Bahari
The era of the oil populists is getting interesting. Oil states enjoyed dizzying visions of power when prices hit $78 last July, and the bonanza emboldened populists like Venezuela's Hugo ChAvez, Iran's Mahmoud Ahmadinejad and Russia's Vladimir Putin to boost spending programs and extend their reach through checkbook diplomacy. Since then, oil prices have bounced as low as $50, exposing how these populists may handle leaner times.
Ahmadinejad and ChAvez are in an odd position--spending heavily enough to fuel inflation, but not ...
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