04-02-2003, 03:48 PM
(This post was last modified: 04-02-2003, 03:49 PM by Occhidiangela.)
The Iraqi share of the world oil market, if manipulated, can cause perturbations in the spot oil prices. So what? The price of gas, here in South Texas for the past two years, has ranged from 98 cents per gallon, 87 octane unleaded, to $1.58 per gallon. It haas been all over the map, and is at present back in the high 1.40's.
So too can actions of any number of OPEC decisions, or that of major producing nations.
It is not that Iraq sells the US so much oil, they don't, it is that their contribution to the aggregate global oil supply can influence spot market prices, as can that of Saudi Arabie, Nigeria, Kuwait, etc.
So too can actions of any number of OPEC decisions, or that of major producing nations.
It is not that Iraq sells the US so much oil, they don't, it is that their contribution to the aggregate global oil supply can influence spot market prices, as can that of Saudi Arabie, Nigeria, Kuwait, etc.
Cry 'Havoc' and let slip the Men 'O War!
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete