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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: bacchus_ii who wrote (62389)	12/19/2002 5:10:28 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 281500

Not seize the oil... but control it's price... read the link: But oil has been fairly cheap for years, everybody cheats on OPEC. To bring them into line, the Saudis have to pump more and drop the price, this has always been their only weapon since they have the biggest reserves. The "control the price of oil" arguments don't stand up to examination. The price has not been out of control, not even as a threat; the oil market is in glut, and the US already buys most of Iraq's oil under the UN oil-for-food program. The US has no shortage of oil. We just cannot afford to let Saddam Hussein gain hegemony over the Gulf and control over 50% of the world's oil reserves. That is a different motive, one that works over the long-term, not the short-term.