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RE: fears and solutions



> My fear is that the US is planning to bomb the oil facilities
> in Iraq to set the economy back another 20 years.

Hi Philippa,

I think that bombing Iraq's oil facilities is unlikely.  The US is currently
the largest consumer of Iraqi oil sold under `oil for food'.  Oil is a
commodity, so the US could bid suppliers away from other countries if it
destroyed Iraqi facilities but this would certainly bid up prices and would
force reconfiguration of US refineries that have been set up to refine Iraqi
oil.  Both of these steps are expensive.

It would also bring a world of hostility towards the US, undoing years of
effort to convince people that Iraqi suffering was not a consequence of US
policies.

Best,

Colin Rowat

work | Room 406, Department of Economics | The University of Birmingham |
Birmingham, B15 2TT, UK | (+44/0) 121 414 3754 | (+44/0) 121 414 7377 (fax)
| c.rowat@bham.ac.uk

personal | (+44/0) 7768 056 984 (mobile) | (+44/0) 7092 378 517 (fax) |
(707) 221 3672 (US fax) | colinrowat@yahoo.com


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