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Politics : Foreign Affairs Discussion Group

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To: KyrosL who wrote (124706)	2/14/2004 10:12:27 AM
From: quehubo	Read Replies (1) of 281500

You may recall that Iraq is surrounded by 2/3 of the worlds oil. With present global oil demand very closely matched to supply, prices of oil will be very high this year. While we are working on securing stable intermediate term oil supplies, we are exposed to supply shocks that are occurring very routinely. High probability that Chavez causes another revolt in Venezuela this year, oil prices go through the roof, and here in the USA we get another lesson on why we need a stable supply of oil from the Mideast. If not Venezuela, perhaps Iran, Nigeria, Saudia Arabia, or Indonesia. The next interruption and we will be glad Bush is filling the SPR.

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