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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (329973)3/22/2007 7:26:17 PM
From: TimF  Read Replies (1) of 1575732
 
Yeah, I guess we would have a choice of moving goods (like food), going to work, or fighting wars. It's not just the Gulf, it's also Russia and Venezuela.

It wouldn't be a choice between broad categories of activities. It would be higher prices for all of them.

As for an embargo of all of OPEC and Russia, I don't see it as being at all likely. They would harm themselves by doing so, and Iraq and Kuwait, and to at least a limited extent the rest of the Gulf States, rely on our military protection and deterrence.

As for not seeing any problem with paying a lot for oil imports. Of course its a problem. Its an expense that hits across the whole economy, and a fairly big one. But its less of a problem than most proposed solutions.
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