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« Monday « October 14, 2002
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The Iraqi wild card: Impact on oil market
(International Herald Tribune)
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The prospect of war in Iraq, and its impact on already shaky oil markets and the global economy. "This is the elephant in the room that everyone is thinking of and no one is mentioning." The view is circulating that the Bush administration wants to attack Iraq principally for its oil. Few in Washington take that contention seriously, but few dismiss the importance of Iraq's massive oil reserves and the possible effect of a war on Middle East supplies and international commerce.Let's talk about the elephant. Given the administration's detailed plans for the attack phase, what economic impacts to they forecast for this "operation?" Oh yeah, right, this is the administration that never talks about economics.
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