Are Oil Prices Driving The Iran Conflict?
In physics, kinetic equilibrium describes a system in which forces are balanced, and motion continues at a steady, unchanging rate. Felix Vezina-Poirier of BCA Research argues that we can apply kinetic equilibrium to the Iran conflict. Unlike most analysts, he believes that oil prices are not the result of the ebbs and flows in the conflict. Instead, he thinks oil prices are steering the conflict. When oil prices are at the lower end of the recent range, both sides appear more comfortable bad-mouthing each other and escalating their actions. Conversely, when oil prices climb, the political…
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