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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (30716)	4/3/2003 5:31:11 AM
From: elmatador	Respond to of 74559

We dealt with Saddam without killing Iraqis. From the mid-seventies to mid-eighties, Brazil did brisk business with Saddam's Iraq. He proved not to keep contracts and not to pay his bills. Petrobras went there in contract of risk, by which it drilled for oil, and only get a pay back if oil would be found. They discovered a giant oil field named Majnoon. When the Iraqis discovered the potential was real big they shafted the Brazilians. They were our biggest source of oil then. And we were their one of their biggest source of military hardware, they're still lobbing AstrosII to the invaders right now since Tommy Franks warned the other day on TV about the danger of the system. By 1986 we stopped supplying them and denied the better version AstrosIII. Pulled out everyone. Instead of drilling for oil there, in the last 15 years we developed technology for deep sea drilling (1200m of water between sruface and the sea bottom) and get today 90% of our crude off-shore Brazilian coast. Now we can show Saddam a big finger, since he can't see our money. That's the way to treat those types. Hit where it hurts but do not even to go there.