-Caveat Lector- OIL SHORTAGE LOOMS http://www.mirror.co.uk/news/allnews/page.cfm?objectid=12547434 &method=full&siteid=50143
Jan 18 2003 By James Mellor WAR in Iraq will lead to the largest ever shortfall in oil supplies, experts warned yesterday. The grim prediction came as world oil prices last night rocketed to a two-year high. A crippling strike in Venezuela, a major oil exporter, has already drained world reserves of crude. But there are now fears that a military conflict in Iraq would lead to crippling oil shortages. Steve Strongin, an analyst at Goldman Sachs, said world oil markets face the greatest oil shortfall in history. He added: "In terms of barrels per day the Venezuela situation is one of the larger shocks we've ever had. "Only the Gulf War, the Iran/Iraq war and the Arab-Israeli war in 1973 represented similar ones. A two-month interruption to Iraqi crude would turn it into the largest ever shortfall." The situation is already causing headaches at the White House. Earlier this week, the US admitted oil inventories are down to their second-lowest levels since records began in 1976. America's minimum stockpile is 270 million barrels of crude. The country is only 2.3 million barrels above that level - sufficient to keep the wheels of industry in the US turning for just four hours. President Bush has so far refused to release emergency reserves. Forwarded for your information. The text and intent of the article have to stand on their own merits. ~~~~~~~~~~~~~~~~~~~~ In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. ~~~~~~~~~~~~~~~~~~~~ "Do not believe in anything simply because you have heard it. Do not believe simply because it has been handed down for many genera- tions. Do not believe in anything simply because it is spoken and rumoured by many. Do not believe in anything simply because it is written in Holy Scriptures. Do not believe in anything merely on the authority of teachers, elders or wise men. Believe only after careful observation and analysis, when you find that it agrees with reason and is conducive to the good and benefit of one and all. Then accept it and live up to it." The Buddha on Belief, from the Kalama Sutra <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
