Reason to act immediately...while prices are still low.
The War on Terrorism Is Moving to Iraq
George Bush has already announced his intention. Saddam Hussein is going
down.
Secretary of State Colin Powell has made it clear that Iraq is the next U.S.
target. Only the strategy is in question. And although you may not be aware
of it... 90% of Iraq's oil exports -- 24.2 million barrels a month -- go to
the United States.
And here's another fact you may not know...
Arab Wars = Oil Profits
It's simple. Conflict in the Middle East invariably leads to higher oil
prices. Consider recent history:
The Yom Kippur War, 1972 -- fought between Israel and its Arab neighbors,
it quadrupled the price of oil, from $3 to $12.
The Iranian Revolution, 1978 -- effectively removed one of the world's
kingpin oil producers and pushed oil prices from $12 a barrel to $24 a
barrel.
The Iran/Iraq War, 1980 -- jump-started oil prices again, sending them from
under $22 a barrel to over $35!
Iraq invades Kuwait, 1990 -- propelled oil markets into the stratosphere.
The price of crude climbed from $20 a barrel to over $35 a barrel.
In 1973 the United States imported 34.8% of our oil. Jimmy Carter considered
it a crisis. That's because Persian Gulf states control 65% of the world's
known oil reserves. And that's a serious problem.
When OPEC cut back production in the '70s, Americans waited in line for
hours for a fill up. The economy took a beating.
Today, the United States imports 53% of its oil...and most of that comes
from OPEC producers. More than half of it flows through the Persian Gulf.
The Most Dangerous Transfer of Wealth in History
Industry experts predict that by 2010, the Persian Gulf states will supply
75% of the world's oil... and they'll rake in $250 billion a year in the
process.
It's the greatest wealth transfer in the history of the world. And the most
dangerous, too. The West pours hundreds of billions of dollars into the
pockets of these sheiks and dictators every year...and a lot of them hate us
for it.
Never before has the United States been so dependent on such an unstable
powder keg. It's more dangerous than ever. More dangerous than the '70s,
'80s or even during the Gulf War. That's because never before has the United
States had so many well-funded enemies in the region.
Our dependence on oil imported from the Persian Gulf gives these terrorists
the money and resources to attack us. And to try and destroy our values of
freedom and democracy.
It's NOT Over...This Is Just the Beginning
Osama bin Laden is a hero in the Middle East. Osama is now the second most
popular name for new babies in the Muslim world -- beaten only by Mohammed.
And nothing that happens to him now will change the situation. Even our
allies -- the Saudis -- love him. Not the government, of course, but about
90% of the citizens sympathize with him.
There is a long battle ahead of us.
I've been to an OPEC meeting before. I've met these guys. I understand the
mentality of the bin Ladens, ayatollahs and Hamas leaders. These maniacs
can't be bought off with foreign aid. They aren't interested in
diplomacy...or democracy. They hate our way of life. They're committed to
destroying us -- no matter what it costs them. They believe that they are on
a "Mission from Allah" to destroy Western culture.
In a 1996 interview, bin Laden said, "Abdul Aziz [the founder of the Saudi
dynasty] did not apply Islamic law; the country was set up for his
family...Then after the discovery of petroleum, the Saudi regime found
another support -- the money to make people rich..."
Bin Laden doesn't care about money. Or oil. He is a religious nut. He
virtually called for the overthrow of the Saudi royal family. He believes
that kings either rule by divine law or they have betrayed Allah. In his
view the Saudi government are traitors and U.S. puppets. And they should
die!
The Hidden Target: The Oil Jihad
Osama bin Laden and his gang of terrorists wants the United States out of
Saudi Arabia and the Middle East. But how can he and his al Qaeda network of
thousands of terrorists liberate Mecca and Saudi Arabia? How can he cripple
the United States and destabilize the Saudi monarchy?
The most obvious terrorist target isn't in the United States. It's right
there under their feet.
As horrible as the World Trade Center attack was, its psychological impact
was bigger than its economic impact. Economically, nothing could cripple a
weak U.S. economy more than a sudden surge in oil prices. Or even
better...cutting off supplies. The terrorists know that...and that's why
they're hoping it becomes a wider war.
The oil industry insiders aren't ignoring this threat. They know that the
United States is more dependant than ever on imported oil. And that the
terrorists are doing OPEC one better, driving up the price of oil not
artificially, but by making it a casualty of war.
John Myers
AI
