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yurbud

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24. my favorite Friedman stupidity: effect of Iraq War on oil price: $6 or $60 a barrel

Mon Apr 15, 2013, 11:16 AM

Apr 2013

Neither of Friedman's scenarios happened in reality and oil hovers around $100 a barrel now.

Oddly, Pat Robertson repeated pretty much the exact same line. Maybe it was to bait people too smart to buy the WMD and terrorist crap, but not quite smart enough to wonder why an administration wholly owned by the oil industry would fight a war to LOWER the price of oil.

But one thing I haven't seen much planning for is the impact an attack on Iraq would have on the world's oil market. Depending on how the war went, that impact could be very bad and lead to a sharp spike in oil prices, like $60-a-barrel oil. But -- wait a minute -- it could also be very good, and lead to $6-a-barrel oil that would weaken OPEC and, maybe, also weaken the Arab autocrats who depend on high oil prices to finance their illegitimate regimes and buy off opponents.

http://www.nytimes.com/2002/07/31/opinion/6-or-60.html

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? truebluegreen Apr 2013 #41

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my favorite Friedman stupidity: effect of Iraq War on oil price: $6 or $60 a barrel yurbud Apr 2013 #24

Excellent find - nt dreamnightwind Apr 2013 #89

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