Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts

Sunday, 25 May 2008

The real folly of the Iraq War.

There were many reasons why I was against the war with Iraq. The most important one was that history told us that it would be a disaster. I have always believed that history is a great predictor of the outcome of actions and that all world leaders would be well advised to study and learn those lessons. I know that in George Bush's case it is unlikely that he is capable of understanding anything so complicated.
What I hadn't expected was that this totally ill advised war would bring the economic future of the world to such a perilous point. Dr Mamdouh Salameh, who advises the World Bank and the UN Industrial Development Organisation, estimates that oil prices would be about $40 a barrel compared to the current $135 had the war not taken place. Of course if this forces proper research into alternatives to oil there may be a long term benefit, but this is wishful thinking.