Iraq Capitalism & Oil

[Jib 0]

Enough of whether we should have... what do you think will happen if Iraq becomes a capitalist country? It has a helluva lot of oil under it. Will the price of oil go up? Will they try to buy Rockerfelleer Center? Maybe Bush will get what he didn't ask for.

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the depth of his depravity sickens me.
-- Jerry Falwell, People v. Larry Flynt

[SpeedRacer 1]

I think the price of oil will go up gradually across the board, because it will become more scarce over the next few decades, and because China & India are going to need a s&*tload of it. I don't think Iraq's particular style of government/economy is going to have a big effect on the price of oil one way or the other.

Speed Racer
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[larsrulz 0]

Saudi Arabia has 125% more oil than Iraq not to mention infrastructure which far surpasses Iraq. If there is any worry, it should be of Saudi Arabia becoming a democracy.

If Saudi Arabia sold off every last drop of proven reserves, which would be impossible, that would net them $15 trillion at $60 a barrel, which is absurd. The US GDP is $11.5 trillion per year. Saudi Arabia would have to sell off 20% of the worlds proven reserves to match the US GDP for one year. Basically, there is no way with oil alone for any country in the middle east to even approach the economic might of the west. An economic collapse of the US is just as bad for the EU as it is for us, so it just plain couldn't happen.

Investments coming in from democratic oil-rich countries would be an excellent thing for economic growth for US companies. There is nothing better than running a business with someone elses money!

I got a strong urge to fly, but I got no where to fly to. -PF

[billvon 3,118]

>. An economic collapse of the US is just as bad for the EU as it is for
> us, so it just plain couldn't happen.

Ten years ago that would be true. Now it would be more of an inconvenience; they'd have to cut production only until China's consumption surpasses our current consumption, which it will soon.

No one can afford to lose 100% of their market. But losing 40%, if it meant greater security against invasion, might well make sense to some countries.

[SkyDekker 1,465]

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Ten years ago that would be true. Now it would be more of an inconvenience; they'd have to cut production only until China's consumption surpasses our current consumption, which it will soon.

China in all ilkelihood is the next superpower and when they incade Taiwan, I don't think there is much the US can and will do about it.

No one can afford to lose 100% of their market. But losing 40%, if it meant greater security against invasion, might well make sense to some countries.