Iran and China aren't the only drivers of commodity speculation....I've been keeping an eye on this, in a way as an Australian I'd want as much of our resources as possible used for our benefit and owned by us, so it figures that other countries would want the same too. The main issue here is the way multinationals do business and the political views which conflict with it, amongst other social issues.
(link to this article is in the third paragraph of the next story- click through the the link below to read it all)
Latin America wrestles with Big Oil
By Jasmina Kelemen, MarketWatch
Last Update: 1:13 PM ET May 10, 2006
HOUSTON (MarketWatch) -- As record commodity prices translate into staggering profits for Big Oil, many producing nations, including some of the United States' largest suppliers in Latin America, are eyeing the industry's swelling coffers and deciding that more of those riches should stay at home.........
Mines in general: http://www.marketwatch.com/News/Stor...arts&dist=news
Gold markets eye Latin American moves
Nationalizing natural resources may add fuel to gold's rally, but sink shares
By Myra P. Saefong, MarketWatch
Last Update: 2:20 PM ET May 10, 2006
SAN FRANCISCO (MarketWatch) -- Moves by Venezuela and Bolivia to nationalize their countries' natural resources could soon spill into the mining sector, likely boosting prices for metals that are already at multi-year or record highs, while pressuring shares of companies with interests in Latin America.
"A great leftwing, socialist rising is occurring in Latin America, which will push higher all mineral prices," said Ned Schmidt, editor of the Value View Gold Report.
"Venezuela and Bolivia are only the beginning," he said.
Indeed, early this month, Bolivian President Evo Morales said the move to nationalize the country's hydrocarbons sector was just the beginning. "Tomorrow it will be the mines, the forest resources and the land," he said.........