Monday, October 22, 2007

U.S. Gets Turkey To Restrain For The Moment

The U.S. has apparently urged Turkey to avoid an invasion of Northern Iraq for a few days despite a fresh attack Sunday that left 12 Turkish soldiers dead by Kurdish radicals. The current high oil prices on the world markets is heavily driven by the tensions with Turkey and Northern Iraq and other world turmoil even more so than supply problems with oil.

Turkey expects the U.S. to get a handle on the Kurdish extremists. But in reality, there is little that the U.S. can probably do about the Kurdish violence, and an invasion of Northern Iraq by Turkey by at least part of the 60,000 Turkish troops amassed at the border is still highly likely within days as the U.S. standa nearly helpless to prevent the violence. Once Turkey actually invades Northern Iraq, expect world oil prices to again go wild.


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