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Politics : Ask Michael Burke

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To: zsteve who wrote (64028)	7/5/1999 6:09:00 PM
From: Tommaso	Read Replies (1) of 132070

>>the day oil back up to $25, US missiles will fly over the skies of oil exporters.<< Are you saying that the US would attack Mexico, Saudi Arabia, Nigeria, Venezuela, and so forth, if oil prices returned to levels seen in the past two years? (Not to speak of levels seen a good many years ago). What happened was that OPEC anticipated much greater demand from Asia as well as traditional importers, and increased production just as the Asian economies faltered, sending prices way down. If oil went to $50 a barrel, gasoline in the US would still cost less than it currently does in most of the rest of the world, because taxes on gasoline are so low in the US. The US would have no rationale at all for attacking anyone if the oil exporting countries restricted production.

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