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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (145810)	4/22/2002 6:16:32 PM
From: TimF	Respond to of 1575767

We are fortunate that Libya and the Saudis and other oil producers needed the oil money and so, didn't fall in line with Saddam's temporary embargo ploy. Had they complied with Saddam, we would have been up a creek without a paddle. It would have hurt them at least as much as it hurt us, probably more.. They need the money from our oil. They cut if off, then the US prices go up, we go in to a double dip recession and as we come out of it we care more about conservation. Short term oil needs are down a lot, long term less growth in demand which keeps oil prices depressed for years after the embargo ends. Meanwhile the Saudi's income goes down so much that they have problems paying interest on loans while also keeping the lavish lifestyle for the sheiks and paying off the people who might otherwise be unruly. Plus if sometime in the future they do need our help we are more likely to ignore them. Also the Russians would probably make up some of the difference in oil production. Tim