ROCKET J
Zone Head
Goes to water over a dummy!!!
Posts: 602
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posted April 02, 2002 11:17 PM
 Edited By: ROCKET J on 2 Apr 2002 23:18
So you want to keep me from riding my bike huh, Saddam?
Tuesday, April 02, 2002
By Molly Falconer (Fox News)
Iraqi President Saddam Hussein says he's ready to go to war using one of his most effective weapons: oil.
Saddam has indicated that he's ready to turn off the taps to use crude as a weapon to punish countries supporting Israel, and has told other Arab nations to follow his lead in an escalating war of words.
"It's a disgrace on all Arabs and believers everywhere in the world if they don't help their Palestinian brothers in their battle," Saddam told his ruling Ba'ath Party in a speech Sunday night before the directive to Arab nations. "If Arabs want to put an end to Zionism, they are able to do so in 24 hours."
Iraq pumps out 200,000 barrels of oil a day and is the fifth-largest producer of oil for the United States despite sanctions that allow Iraq to sell only enough oil to pay for humanitarian and medical relief for its citizens.
"Saddam Hussein has made similar threats in the past and has not followed through. It's a little bit like the little boy who cried wolf," said Erik Gustafson, an Iraqi policy expert.
"This is a desperate attempt on his part to stay in power. Ultimately, it's not going to work and within 12 months, Saddam Hussein is going to be out, and I think he's going to be in his equivalent of paradise, he['s] not going to be on this Earth," forecast Forbes magazine publisher Steve Forbes.
If Saddam were to succeed in such a push, the impact could devastate the U.S. economy. Oil prices would skyrocket, gas lines would return and President Bush could imagine a future like that of Jimmy Carter, whose presidency sank in the midst of a 1979 oil crisis.
World markets are already vulnerable to changes in supply because OPEC recently cut production by 1.5 million barrels a day. The price of crude jumped above $27 a barrel. That's a 50 percent hike since the beginning of the year.
Markets, however, do fear a repeat of the economically devastating 1970's gas lines when OPEC imposed an oil embargo on the United States because of U.S. support for Israel during the Middle East conflicts in 1973.
But this time around, oil industry experts say Saddam's going to have a harder time rallying the oil-producing troops.
"Most oil-producing nations within OPEC will not use oil as a weapon. It will be a weapon of last resort as far as they're concerned," said Phil Flynn of Alaron Trading.
"The real question is: Does an embargo go along with an output reduction by OPEC? But let's remember something about Saudi Arabia. They export around 1.7 million-1.8 million barrels of oil a day to the U.S. About a third of that goes to a half-owned refining system. They're half owner so are they going to embargo their own refining system?" asked John Kingston, Platts' global director of oil.
Just the threat of further unrest in the area destabilizes crude markets. Saddam's words could have an impact on prices just by talking loudly and holding a big oil reserve.
"The significant part of all this, however, is that it has really come to the point that Saddam can make a statement like this and that it doesn't fall on deaf ears," said Samer Shehata, a professor of Middle Eastern Studies at Georgetown University.
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Just thought you might like to know.
Rocket
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If I get any smarter, my head will explode!
  
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pat830
Expert Class
Posts: 135
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posted April 03, 2002 07:29 AM
These people (animals) are crazy.
They need to figure out a plan on how to get along on their own. They just keep fighting and fighting. No way to behave these days.
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slug
Pro
Out in search of my mind...
Posts: 1433
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posted April 03, 2002 07:01 PM
and why in the world would we ever have to go to oil lines and 1970's type 'shortages when we have our own reserves that could put opec UNDER the table if we used it?
of course the answer is that there are too many liberal bleeding hatchet wounds out there that would DIE if they thought we were using up some natural resource that wasn't renewable and what about the impact on the environment OH PITY US we are SOOO evil...(of course the same processes that formed the oil in the first place just miraculously stopped when we started drilling for oil...)
(but its ok to impact environment in mideast to get and use THEIR oil so they can continue to drive their SUV's and Lexus' and Cadilacs and 12-passenger stretch limos and..etc etc)
bunch of hypocrites...
PS we who use oil are the longest of longterm recyclers, we're recycling dinosaurs!!
   
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blkrnbw
Novice Class
Posts: 61
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posted April 05, 2002 01:46 PM
not happenin
Russia, Saudi, and Kuwait all said they wont do anything of the sort and these three alone can cover any loss that Iraq and Iran could cause. We made decent friends saving Saudi (and I mean their leadership not their people, they still hate us) and Kuwait well we all know what we did for them. We have oil from either unless they get invaded again.
Brian
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12RPilot
Pro
Posts: 1094
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posted April 06, 2002 07:11 AM
Edited By: 12RPilot on 6 Apr 2002 07:14
If Saddam thinks we are waffling over attacking Iraq now he need only shut off the crude. I'd bet that would light a fire under some Pentagon butts. But, I think the bumper sticker said it best: Nuke their ass and take the gas!!!
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If you aren't an AMA member, you're part of the problem.
NESBA #209
http://www.bikepics.com/members/12rpilot/04zx10r/
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EastBayDave
Needs a job
Posts: 2245
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posted April 06, 2002 07:32 AM
I'm also a grad of "Nuke'em High" ....
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Enjoy the ride!
02' ZRX1200
00' ZX12R sold
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TripodMeat
Expert Class
Posts: 125
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posted April 06, 2002 04:01 PM
a line stolen fron "The Abyss"...
"Heeeeeeeeeeeres MIRV" !!!
( You grads of the Nuke'em High school will get this )
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fungus
Parking Attendant
Posts: 3
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posted April 06, 2002 05:25 PM
Why in the world would we want to use our reserves when we can use there's first? All this money we sink into them at this time will come back to us when they run dry. Then if they want to kill themselves nobody will care because they wont have anything to bargain with. Just my opinion.
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I'm what happens when sales people breed!
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