Iran Blocks Boost In Oil Production - Will Gas Prices Jump Again?

Dumb move by OPEC. The higher the oil price, the more likely economic growth slows, and thus less demand for oil. This will have the effect of lowering the price. Also, it fuels the demand for alternative sources that excludes oil, thus pushing the price of a barrel of oil to drop as well.

I guess all those Chinese and Indian Heavy Industry and Automobiles will all switch to Super New Alternative Fuel Vehicles in a couple of years ?

The Increasing Demand for oil is LED by DEVELOPING COUNTRIES and no amount of crying by developed countries is going to change that fact.

The Cost of Production is fixed, the sale price is variable, everything between is profits. Thus the Opec Countries can allow market forces to dictate somewhat the price levels, if it starts to go too far in any direction, they can intervene, Right now i guess they decided it has not gone too far yet.

OBL's objective with 9/11 was to cripple the U.S. economy thru terror tactics. He went a long way in achieving that objective as result of all the spending on wars on terror, homeland security, etc, etc.
His non-violent muslim oil-producing buddies in the middle east will now finish what he started and bring the West to its knees with ever incresing oil prices..