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Thursday, January 4, 2007

Middle East Oil …..”closed circuit phenomenon” ?

Thanks to the IMMATURITY of the Bush Administration, it seems the Midlde East is headed towards further destabilization. Such things would have been unthinkable during the Clinton-Gore administration.

What can be real threatening is what I call the “closed circuit phenomenon". It is a frightening scenario. The OPEC countries can shut out a significant part of the democracies, & trade oil to dictatorial countries.

Put in together Saudi Arabia, Iraq, Gulf States, Iran, Indonesia, Venezuela. They hold 80%+ of the oil. What they do is start trading with Russia, China & other dictatorships.

Democracies like India, Taiwan, Japan (the list goes on) are totally helpless in such a scenario, as they do not have sufficient reserves.


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