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Politics : Foreign Affairs Discussion Group

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To: Ichy Smith who wrote (204617)	9/28/2006 5:25:14 PM
From: Ilaine	Read Replies (3) of 281500

What exactly are you envisioning? The US consumes 20 million barrels of crude oil a day, but we only import 60% of that, and of that 60%, maybe half of that comes from OPEC countries (mostly Saudi Arabia and Venezuela). If OPEC tried to turn off the spigot to America but continued to export oil to our trading partners, we could buy it from them, as oil is fungible. If OPEC turns off the spigot to the entire world, and we die, they die from lack of income. If they are willing to die from lack of income, we can still produce enough oil for necessities, but not necessarily luxuries. You might not like the way you're living but you won't starve. China and Japan and Europe will be in a lot worse trouble.

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