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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Jim S who wrote (59033)5/9/2007 4:05:32 PM
From: Elroy  Read Replies (2) of 90947
 
All of which means no mid eastern oil to the West, a situation that the West (and probably China and India) can't allow to exist.

I don't know if its correct, but a friend told me that the US only imports 7% of its oil from the Mideast. So if there were a disruption from the ME, prices of course would rocket, but the actual US loss of oil wouldn't be that huge (in the immediate term, at least). Not sure who the biggest consumers of ME oil are, perhaps China, Japan and Europe?

Here's a quote from a Google search. I only know the 7% number from conversation and it may be wrong, but it makes sense.

the USA imports most of its oil from Canada, Mexico, Saudi Arabia, Venezuela, Nigeria, and, to lesser extent, Iraq

naturalhub.com
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