> Ulhas Joglekar wrote:
> >Would there be considerable future economic impact, if oil price could be
> >brought down to, say, $10 per barrel?
>
> Could be, but it would also destroy the domestic U.S. oil industry
> (and it wouldn't be too good for other high-cost producers, like
> Norway or Russia). A price around $20 balances a lot of competing
> interests.
I don't know much about the economics of oil industry. But you mean it is not in the US interest to weaken, if not break-up, OPEC?After Iraq is subjugated, the focus could shift to Iran. With Central Asia already under the US hegemony, the entire area would be open for the US oil interests. With the US Navy dominating Indian ocean, the US would strengthen its power vis-a-vis Japan, China. This is very much the conventional view of the US policies in the Persian Gulf.
US war on terrorism is being used by Asian nations to deal with domestic problems: Russia (Chechnya) , China (Xinjiang), India (Kashmir), Nepal (Maoists), Sri Lanka (Tamils), Philippines etc. Plus the US is the principal market for much of Asia. Who can challenge the US?
Ulhas