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

To: Bilow who wrote (130799)	5/1/2004 6:21:56 AM
From: quehubo	Respond to of 281500

The results of OPEC's controlled oil shock to the West were quite devastating. The results of anarchy in Iraq that ruins the Iraqi infrastructure would be far more devastating. If the threat extended towards the other oil producing nations surrounding Iraq the effects would be more devastating. There is no replacement for Iraqi oil today. George Will was wrong, Iraqi oil is the marginal barrel and sets the price for all other oil sales. Global economic devastation would motivate many leaders and their people. The energy situation is much different now than in the 1970's. Carl if you followed up on any the factors I point out here you would know high gasoline prices have allot more to do with scarcity than a war premium.