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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (59037)	5/9/2007 4:24:52 PM
From: Lazarus_Long	Read Replies (2) \| Respond to of 90947

I doubt we get any from Veneczela currently. Nigeria is so unstable next week is uncertain.

To: Elroy who wrote (59037)	5/9/2007 4:54:28 PM
From: Jim S	Respond to of 90947

Elroy, I don't know the percentage of our imports from the middle east, so one number is as good as another to me. But, to make up another number, suppose that 25% of the WORLD's oil comes from the Mideast. Also assume that if it stopped flowing, all other sources together couldn't make up that amount. Not only would prices skyrocket, but other countries that couldn't afford the increased costs would find themselves doing without energy, as would numerous small businesses worldwide that are currently operating on the edge of solvency. Then think of the ramifications of that happening, in a crisis that lasts at least several years. The economic disasters for individuals, companies, and even small nations. The revolts and insurgencies that would be fostered, not to mention the possible new wars that would break out. It's beyond my abilities to predict all the fallout that would be caused by such a decrease in the lifeblood of all the world's economies. I can predict that it would be mighty uncomfortable so long as that flow of oil remained restricted at a level far below the demands of world economies.