CONSUMER CONFIDENCE
Even though we don't depend 100% on mid east oil...what would happen to oil prices? Consumer Confidence?
2/3 of the US Economy is consumer confidence driven!
Just a thought.
Franklin
Posted on 04/01/2002 3:44:00 AM PST by kattracks
BAGHDAD (Reuters) - Iraq has called on Arab states to use oil as a weapon to punish countries supporting Israel and to stop the Jewish state's current military action against Palestinians.
"Use oil as a weapon in the battle with the enemy (Israel)," Iraq's ruling Baath party said in a statement published by Baghdad media Monday.
The statement appeared to be calling for action similar to a crippling Arab oil embargo imposed in the 1970s against Western nations.
Saudi Arabia and other major producers of the Organization of the Petroleum Exporting Countries (OPEC) have made clear they have no intention of repeating the earlier oil embargo that severely hit Western economies.
"If the oil weapon is not used in the battle to defend our nations and safeguard our lives and dignity against American and Zionist (Israeli) aggression, it is meaningless," the Iraqi statement said.
The 1970s Arab oil embargo shook the world, quadrupling oil prices and badly damaging the U.S. economy, but without the support of OPEC powerhouse Saudi Arabia and other major producers any attempted repeat would have little impact.
Iraqi newspapers said the statement was issued after a meeting of the pan-Arab command of the ruling Baath party late Sunday night chaired by the party's Secretary-General, President Saddam Hussein.
The statement was issued in response to recent Israeli military moves against Palestinians, which have included incursions into Palestinian cities and the encirclement of Palestinian President Yasser Arafat's headquarters in the West Bank town of Ramallah.
It suggested the proposed action affecting oil output should continue "a year, six months or something similar to that," but gave no precise details on which countries should be targeted.
ECONOMIC ACTION
Israeli Prime Minister Ariel Sharon Friday declared Arafat an "enemy" and sent tanks to his compound in Ramallah after a suicide bomber killed 22 Israelis in the coastal resort of Netanya.
Israeli tanks and armored bulldozers smashed their way into the headquarters and cut off water and electricity supplies and telephone lines. Troops have been clashing with his bodyguards, raising fears for Arafat's life.
Earlier Saddam urged the Arabs to take unspecified economic action against Israel and countries supporting it, clearly referring to the United States.
"If Arabs want to put an end to Zionism, they are able to do so in 24 hours," Saddam told a group of Iraqi religious dignitaries Sunday night.
"The world understands the language of economy, so why do not Arabs use this language?" he asked.
Saddam said if only two Arab states threatened to use economic measures against Western countries if Israel did not withdraw from Palestinian-ruled territory, "you will see they (Israelis) will pull out the next day."
He was apparently referring to Iraq and Saudi Arabia, both possessing huge oil reserves.
Copyright 2002 Reuters News Service. All rights reserved.
Yes, we can start with:
Bill Clinton, Hillary Clinton, AlGore, Tom Daschle, etc, etc, etc, .......just name all the leaders of the Demonratic party and you have a good list of American enemies within this country.
We must increase domestic production of oil and do it fast. Anyone standing in the way of such oil production is an enemy of America and is siding with terrorist and terrorist states and with all who want America crushed and Americans destroyed.
Democrats are a Threat to America!
I'm sure that has something to do with:
1. Russia now being the world's largest petroleum producer.
2. The possibilities at ANWR.
The dems fiddle with allowing us to drill for our own supply of oil while the American public become fodder for the Marxist enviro movement and the Islamic terrorists.
Of course, America may or may not use weapons as a weapon.
Choose wisely, tablecloth-tops.
Ah, Mr. Daschle--explain to me again why you are blocking the president's proposed energy plan from reaching the Senate floor?
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