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Politics : Foreign Affairs Discussion Group

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To: bela_ghoulashi who wrote (80622)	3/9/2003 1:53:00 AM
From: OpenSea	Read Replies (1) of 281500

In recent months, as America has threatened and prepared for war against Iraq, the price of oil has gone from the low 20s to the high 30s a barrel. American consumers, therefore, are paying an extra $15 a barrel, or $300 million a day, or over $100 billion a year as a “war premium” on the oil they consume. It’s like a tax — imposed as a result of government policy — except that the government doesn’t get the money. That’s before the war even starts, and it is in addition to the $300 billion or so they’re saying that prosecuting the war is going to cost directly. Of that $100 billion, $55 billion pays for the oil we import. But $135 million a day —a day — or more than $45 billion a year (minus some taxes) goes into the pockets of domestic oil producers.

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