Gabe is absolutely right. Moreover, the current oil cartel probably does not realize that the US has more oil than these guys can only dream of. There are billions of barrels of oil in Alaska - which the US can always tap if ever "starved".
For strategic reasons, I believe, the US is milking the rest of the world out of its oil, while leaving its own Alaska reserves untapped. To get an idea how big the state of Alaska is - imagine you can fit the entire surface area of India onto the map of Alaska and you'd still more room left to play with! The US isn't going anywhere. It is merely going through a rough economic patch. Jim F New York. --- On Fri, 11/12/10, Gabe Menezes <[email protected]> wrote: > From: Gabe Menezes <[email protected]> > Subject: Re: [Goanet] Is the US destined to doom? > To: "Goa's premiere mailing list, estb. 1994!" <[email protected]> > Date: Friday, November 12, 2010, 4:50 AM > On 12 November 2010 01:38, rajendra > kakodkar <[email protected]> > wrote: > > > It is lerarnt that $ 44 tn worth Venezuelan crude oil, > which earstwhile was > > shipped to the US, is now contracted to be exported to > China on long-term > > basis. China which had defeated the US in a major oil > negitiations in > > Afghanistan last year, is now poaching right under the > US nose. Result: the > > West would be starved for oil leading to another price > spiral in oil riding > > the liquidity created by $ 600 bn quantitative easing. > Chinese stratgy: > > Divert a portion of the money printed by the US (to > stimulate productive > > economic activities like manufacturing, which create > employment) to oil > > speculation. This could be a counter offensive blow > from China in reply to > > Obama's campaign against trade imbalance created by > undervalued Yuan. Bitain > > has already deserted Obama on the Keynesian path and > has embraced austirity. > > > > Rajendra > > > > COMMENT: USA is not dependant as much as Europe is, on the > importation of > oil. Further USA has so much gas that prices have > collapsed. Only a matter > of time when transport will start running on Gas instead of > petrol. > -- > DEV BOREM KORUM > > Gabe Menezes. _/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/ _/ _/ tambdimati: the Goa review is a community blog of original _/ art, writing, music, news and commentary from and about the _/ smallest state in the subcontinent. check out the newest _/ member of the Goanet family daily at _/ http://www.tambdimati.com. _/ _/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/
