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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (27806)	1/25/2003 4:57:31 PM
From: smolejv@gmx.net	Read Replies (1) of 74559

"the oil price could explode" - Spiegel interview with Sheikh Zaki Jamani ... SPIEGEL: Your excellency, what happens, when USA, together with the British, attack Iraq? Jamani: Let's take the worst-case scenario: Saddam Hussein sets his oil fields in fire and destroys with a missile attack the refineries of Kuwait and in the northeast Saudi Arabia. Tens of thousands die. It comes to serious, long persisting losses of production. Within a short time the oil price rises over 100 dollars. No industry can handle such an increase - leads to a world economic crisis. SPIEGEL: Isn't such a horror scenario just pure panicking? Jamani: I am not saying, this is the way it will happen. But this scenario is not entirely unrealistic. After the first shot has fallen, nobody knows, what comes next. Saddam said once, that whoever were to fell him and conquer Iraq, he would not find a land full of people any more - it would a land be a full of tombstones. Saddam is a killer type. If he sees no way out, he is able to take everybody with him. Also with chemical and biological weapons ... xave.de

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