zraver,
Quote:
While the US military won't run out of oil thanks to Mexico, Canada, and domestic sources. And Europe can squeak by on north Sea and Russian supplies the rest of the world including North Ame'srica and Europe civillian consumers will be out of luck.
The global economy is not robiust enough to survive a serious threat to oil supplies. One side affec tof the new JIT (Just In Time) deleivery based economy is that there are no reserves. With out oil to ship everything from cereals to tube socks you could see economies unravelling rapidly.
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the US is dependent on ME oil, but not THAT dependent. between the strategic reserve and other countries, even a total fall of middle east oil supplies wouldn't mean a collapse of the global economy- just a very frantic rush to get south american, mexican, and most of all, african oil supplies more developed.
and also, something that's often missed out- where does iran gets its revenue to fund its economy (let alone its war machine) if iran closes off all oil supplies? how long would the US tolerate this?
funny thing about the global economy is, despite the spiking oil prices of the last five years, the global economy has grown faster in the last five year period than in any other period. the global economy, while still needing oil, is no longer completely tied to it.