Long oil?

This might lead to a conflict http://www.bloomberg.com/apps/news?pid=20601087&sid=a3lUUctgSWI4&pos=8 thoughts?

i wouldn’t have thought there would be any particularly high price jump, given that the field isn’t in production at the moment (although i’m not sure if it was expected to come online anytime soon). also there’s an opec meeting next tuesday so any potential gain on speculation of the iraqi oil could be completely destroyed by the outcome of the meeting.

T Boone Pickens told us a couple of weeks ago what he thinks the oil price is going to be going forward. About $75. When ask why he said because thats what the Saudi’s say and they control most of the oil.