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Politics : Foreign Affairs Discussion Group
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To: Maurice Winn who wrote (129569)4/19/2004 6:46:04 AM
From: quehubo  Read Replies (1) of 281500
 
You quite casually comment on oil probably not going to $100 a barrel without Iraqi production. Of course supply would be rationed and many jobs would be lost and economies devastated.

Iraq has a very large % of worlds oil reserves and their importance to produce will grow significantly.

You and all of us will break a sweat to reduce our consumption. Supply even with Iraq doing well will be rationed over the next 3-5 years as a billion or three Asians increase their petro demand. Take a look at per capita energy consumption comparisons between the USA and China or India.

Going forward cliche, but I have been posting such comments here for the last two years while may though oil prices would collapse once Iraq was liberated. Meanwhile I have done very well betting oil and natural gas were scarce commodities getting scarcer.
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