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2003-02-11 Iraq
Iraq Ready To Let USA Take Its Oil in Exchange for Peace
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Posted by Steve White 2003-02-11 01:17 am|| || Front Page|| [336099 views since 2007-05-07]  Top

#1 Pravda still don't inderstand econ 101.The oil market is a global market.If you are a producer and the price rises elsewhere,you want to export more of your oil,driving the price up in your country also.The only way you can avoid that is to prevent exports by government decree,in which case you lose the profits.This "opportunity cost" is just as real as a direct subsidy,it's just less obvious.

The Left's "War for Oil" argument rests on their belief that there is a "free lunch" in the Iraq oilfields and USA is looking for it.In the real world ,there are no free lunches.
Posted by El Id  2003-02-11 22:02:09||   2003-02-11 22:02:09|| Front Page Top

#2 Oh for... The US was buying oil from Iraq until fairly recently, the UN sanctions allowed for that, we don't need to invade for that. Or for the less-than-two-percent of use it amounted to.
Posted by John Anderson  2003-02-12 00:59:18||   2003-02-12 00:59:18|| Front Page Top

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