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Politics : Foreign Affairs Discussion Group
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To: Hawkmoon who wrote (188653)6/7/2006 12:03:54 PM
From: jttmab  Read Replies (1) of 281500
 
Look at how the world markets are reacting over just the mere threats of an oil shut-off from Iran? Even though the US only obtains 10% of its oil from the Mid-East, the rest of the world is fully dependent upon this oil.

Even if we didn't get a drop of oil from the mid-east, we would be just as dependent on mid-east oil as we are now. Where you get the crude isn't important. It's how much crude you need and the price of the crude.

Now, if you're considering nationalizing the US oil industry or thinking about prohibiting, e.g., Exxon-Mobil, from selling it's crude on the global market the dynamic changes.

jttmab
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