05-14-2002, 05:48 AM
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Webmaster
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Join Date: Oct 2001
Location: 2nd door on the left
Posts: 4,063
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Quote:
Originally posted by chodadog
You are aware that the US is one of the highest oil producing nations in the world, right? The only reason the US imports the amount of oil it does from arab countries is this:
They do not want to expend their own oil resource, and thus be subject to potentially huge oil prices that the arab countries could thereafter demand,
It is currently cheaper for them to import oil from arab nations, because these arab countries are currently pumping out massive volumes of oil, and as a result, are selling it at a price that makes it more economically viable.
If push came to shove, the US really wouldn't -Need- the arab countries for oil. It's just that, at the moment, it is more beneficial this way.
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