04-01-2003, 10:59 PM
Hello Occhidiangela,
Regarding that non-existant embargo by Iraq, how about this quote from The Washington Times, April 9, 2002
"Saddam Hussein said yesterday he will cut Iraq's oil exports for 30 days or until Israel withdraws from Palestinian territories, raising new fears about soaring gasoline prices in the United States. The price of oil on the New York Mercantile Exchange rose 33 cents to $26.54 a barrel after the Iraqi dictator's announcement. The international oil market braced itself as Libya and Iran threatened to join the embargo and a revolt continued against Venezuela's state oil monopoly. The federal government projects that the price of regular unleaded gasoline will average $1.46 a gallon this summer, but that could rise significantly if supplies tighten, officials say. The average price for regular gasoline reached $1.41 this week, according to an Energy Department survey released yesterday, almost two months before the start of the summer driving season. Prices have jumped at a record rate of nearly 25 cents a gallon during the past month."
As for resolution 660, I already knew that one. Like you said, it made an exception for oil, so you can't call it an oil embargo, in my view. But I understand now that you were referring to the enforcement of the trade embargo, and not implying that the USA didn't buy Iraq's oil. You weren't really clear about that, to say the least.
Regarding that non-existant embargo by Iraq, how about this quote from The Washington Times, April 9, 2002
"Saddam Hussein said yesterday he will cut Iraq's oil exports for 30 days or until Israel withdraws from Palestinian territories, raising new fears about soaring gasoline prices in the United States. The price of oil on the New York Mercantile Exchange rose 33 cents to $26.54 a barrel after the Iraqi dictator's announcement. The international oil market braced itself as Libya and Iran threatened to join the embargo and a revolt continued against Venezuela's state oil monopoly. The federal government projects that the price of regular unleaded gasoline will average $1.46 a gallon this summer, but that could rise significantly if supplies tighten, officials say. The average price for regular gasoline reached $1.41 this week, according to an Energy Department survey released yesterday, almost two months before the start of the summer driving season. Prices have jumped at a record rate of nearly 25 cents a gallon during the past month."
As for resolution 660, I already knew that one. Like you said, it made an exception for oil, so you can't call it an oil embargo, in my view. But I understand now that you were referring to the enforcement of the trade embargo, and not implying that the USA didn't buy Iraq's oil. You weren't really clear about that, to say the least.