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Politics : Foreign Affairs Discussion Group

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To: LindyBill who wrote (58480)	11/25/2002 4:22:26 PM
From: Brian Sullivan	Read Replies (1) of 281500

Bill, The Saudi's cost of production is the lowest in the world. They can always sell their oil at a profit. It is true that they have large debts and their prince's like the high lifestyle, so they would experience some pains if oil were to drop below 20 dollars a barrel. But I don't see how having Iraqi exporting oil at 21 dollars a barrel really hurts the Saudis. It hurts the higher cost producers like the offshore oil in the gulf of Mexico or the North Sea wells. Besides the Iraqi wells will probably need 9 months or more worth of work to bring them back online at full capacity.

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