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Politics : Foreign Affairs Discussion Group

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To: Keith Feral who wrote (147943)	10/14/2004 9:26:01 PM
From: Michael Watkins	Read Replies (2) of 281500

Keith: I have spent close to a decade consulting in the oil industry. I have a very good handle on why oil is priced as it is right now, and very little of it has anything to do with terrorism. We are our own worst enemies in this regard, continuing to assume that relatively low cost oil would always be available to us - and building a society and cities around that premise. The world is much more complex than I think you'd like to believe, and even though you are willing to engage in speculation on overseas conspiracy, you (and most people) seem perfectly unwilling to look at home to understand what role we have played in all this. Frankly, if I was a leader of a sovereign country, I'd be considering whether I want to sell my oil now, or in the next decade when it will be worth twice (or ten times) as much. You want the benefits of the market? Then play by its rules. The seller gets to decide when he wants to sell and for what price. The buyer decides when he wants to buy and if the price is acceptable.

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