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My note is concerned with the investing/trading implications rather than the
political .. I am a firm believer that there is great urgency in reducing
our dependence on oil, particularly ME oil. Assuming we persist in the
madness of consuming unlimited quantities of oil, the issue is where do we
find immediately available, alternative supplies of oil and the answer
appears to be NOWHERE. Not in Alaska (where it must be drilled and piped)
and not in the former Soviet countries in Central Asia where exports must
traverse one of the most unstable regions of the world and pipelines and
export facilities are not ready.
Lest we forget, the government in Iran was overthrown in very little time
and the new regime in Iran cared very little about oil revenues. It was only
after Iran was destroyed economically (a process which took many years) that
the mullah's gave some concern to restoring oil revenues. A pissing match
with these guys over who needs who less is quite likely to be unrewarding
for the West.
Earl
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, October 14, 2001 8:00 AM
Subject: Re: [RT] Oil!
> I still say the West should cut off all oil purchases from the Mid East.
Let
> them kill themselves over the last air conditioned limo. Let them pump oil
> into jerry jugs when all their tanks are full. And absolutely cut off
their
> access to western revenues.
>
> There is plenty of oil in other continents to supply the west for years.
It
> might not be noticeable, but the ME produces NOTHING. It supplies oil to
> producer nations. Something about their culture is totally unproductive.
It
> is destructive and merciless. We should let them have it all to
themselves.
>
> Five years or so should suffice to reduce their populations to more
> manageable levels. The sheiks will whine and beg the west to please buy
> their oil, at a discount for a friend of Rick.
>
> And the condition will simply be that the hate mongering "mullahs" will be
> disposed of. Terminated. And the criminal psychotics dealt with
> appropriately. When they have their patch cleaned up and can control the
> criminals inside their borders, the west will buy small quantities of oil
> from them, temporarily, to test the success of their self control.
>
> A five year time-out for the mid east.
>
> I know this sounds like whacko heresy to everyone who believes that the
only
> oil that works in western economies comes from eastern suppliers, BUT I
> DON'T BELIEVE IT.
>
> I am sitting very close to enough oil to run this country for years, if
only
> America was smart enough to use it.
>
> Let 'em eat sand,
>
> Michael
>
>
>
>
>
> Subject: [RT] Oil!
>
>
> > I must say that some of this 3rd party intelligence stuff regarding
Saudi
> > Arabia, murmurs out of the anti-Iraq side of the Bush administration,
and
> > Israeli actions (e.g. last night's assassination of Hamas leader) are
> giving
> > me the creeps when it comes to oil! Rick Simmons (a very respected
> > investment banker specializing in energy) wrote a piece 16-18 months ago
> > regarding the prospects for repeat of early 70's oil supply/price
shocks.
> > Prices followed his script until the recession brought down demand but
now
> > his ME scenario is perking away. It's not so much that the ME powers
don't
> > need the cash flows but that politics appear to increasingly threaten
oil
> > supplies whether it be an attack on the Alaska pipeline, overthrow of a
ME
> > government, or terrorist attacks on ME oil fields or shipping terminals.
> >
> > Earl
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
>
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