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Re: Sanctions....oil/arms?

On Wed, 4 Feb 1998, John E. MacKenzie wrote:

> On Sat, 31 Jan 1998, S Forrest wrote:
> > there may well be a connection-
> > 1) were the sanctions lifted, the price of Saudi oil would go down
> > 2) Saudi economy is already in trouble- they've made some big cuts
> > recently
> > 3) British Aerospace was saved from bankruptcy by the Al Yamamah weapons
> > deal with Saudi Arabia
> > 4) Saudi Arabia still has not paid this off. hence they need money.
> Dear All,
> Is this correct ? I don't really know but I wonder if the west really
> makes as much out of arms sales to Saudi Arabia and co as it would save by
> allowing Iraq back into the field of oil exporting and hence increasing
> the competition and cutting the prices. <SNIP> 

Well ,it's worth bearing in mind that the UK has sizeable oil reserves
(OK, not quite the same market, but the point still applies), meaning that
we import less than most nations of similar size (I'm not sure if we're
net exporters), and in fact also benefit, if not quite in the same way as
Saudi Arabia.

 | Andrew Macbeth        |   "The difference between lunacy and
 |                       |   eccentricity is wealth"
 | Sidney Sussex College |   
 | Cambridge CB2 3HU     |   Lots of people, in one way or another

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