Quote:
Originally Posted by AndyJWest
I suspect you are underestimating the vulnerability of the U.S. economy to oil price increases. Even a minor downturn could easily cost the economy far more than any court compensation which could reasonably be expected.
As for 'acts of war', if you are suggesting military action against Saudi Arabia, I can't think of anything more likely to push oil prices through the roof, and bring about a global depression.
And then there is this: https://en.wikipedia.org/wiki/Armed_...f_Saudi_Arabia |
And you are overestimating the effects. We were able to withstand $140 oil not too long ago. Now back around 1970-1990 we were extremely susceptible to oil shocks. Now, not so much... Why do you think the Saudis have been trying to force our alternative oil suppliers out of business? They are trying to keep market share by producing oil at a furious rate to try to force our alternate oil producers out of the market... say they do an oil embargo... Price of oil goes up and our suppliers are back in business negating their effect... Do you think the Russians would go along with them?... Nah... They need the money too much also. They would bump up their production to take advantage of the price increase. Net effect, OPEC loses long term market share.
Regarding my "act of war" comment... it was not to suggest military action against them, but to point out that customary international law is mostly applicable in "peaceful" disputes. We don't have to be in a shooting war to act towards them... example Iran sanctions... even if the rest of the world hadn't helped out, we probably still would have started the sanctions with less of an effect "and its a damn shame we are not still sanctioning them, no thanks to the current idiot in chief""