Oil Prices: Another Shock to the System

By May 2, 2006Energy

Bolivia announced today that it is nationalizing its oil and gas industries. Think this will help or hurt the price of gas here in the US….?

As we spelled out here last week, the price of gas is driven by lots of factors, including stability, or lack of same. We quoted Treasury Secretary Snow as saying that markets build in a premium for instability. In other words, hang on, it’s going to be a bumpy ride.

Wish we could tap our own reserves, don’t you?