BP's troubles in Russia

Why BP got into trouble in its venture in Russia is not far to find- it has something to
do with pipeline built by it in Georgia bypassing Russia.
Read this article:
http://www.chron.com/disp/story.mpl/business/steffy/5947272.html

oil prices

All along I felt that oil price spike is more to do with speculation rather than demand supply gap- mentioned in my blog earlier as well.
Read this article from TIME which appears to bear this out.
http://www.time.com/time/business/article/0,8599,1834888,00.html?xid=feed-cnn-topics