posted on Feb, 11 2010 @ 06:34 PM
Color Revolutions, Geopolitics
and the Baku Pipeline
By F William Engdahl
After a short-term fall in price below the $50 a barrel level, oil is hovering at $60 a barrel and likely to go far higher. In this situation one
might think that the announcement of the opening of a major new oil pipeline to pump Caspian oil to world markets might dampen the relentless rise in
However, even when OPEC agreed to raise its formal production quota by another 500,000 barrels per day (bpd) on June 15, the reaction of NYMEX oil
futures prices was to rise, not fall. Estimates are that world demand in the second half of 2005 will average at least 3 million barrels a day more
than the first half.
Found this little article while browsing,looks like the trans-caucus pipeline project is not done yet.
[edit on 062828p://3726 by mike dangerously]