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Politics : Foreign Affairs Discussion Group
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To: D. Long who wrote (8395)10/31/2001 5:56:34 AM
From: Bilow  Read Replies (1) of 281500
 
Hi D. Long; Re: "Withholding a vital natural resource which can not be immediately replaceable elsewhere with the sole intent of destroying or severely harming a nation IS a life boat situation."

Here's the US government figures on oil production:
eia.doe.gov

For us amateurs, the oil market is very complicated. I don't know how to extract from the above figures exactly what would happen if Saudi Arabia quit producing. My first guess is that prices would go up, other producers would say "yippee!" and increase production, consumers would say "oh drat!" and switch to alternatives or cut back, and the world would go on.

But anyway, at least you can get the numbers for Saudi production.

-- Carl
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