Where have you been for teh last few years, folkiedave - doing Rip Van Winkle impressions?


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USA uses 20 million barrels per day, it imports approximately half of that, mostly from Canada and Venezuela. What it gets from the Persian Gulf region is minute, what it is supposed to be "stealing" from Iraq is miniscule and they are paying market price for it.
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... out of touch as usual - when that runs out, it is necessary to have the Middle East supply 'on tap' and safely out of the hands of others...


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By the bye, Foolestroupe, you are talking about events that happened nearly 40 years ago, the world and the Oil & Gas industry has changed a great deal since those days. As far as Iraq's oil goes the US did very well without it for the best part of 17 years.
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Those who do no learn from history are condemned to repeat it!