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Associated Press | Posted: Wednesday, March 9, 2011 5:25 pm
"Exxon Mobil CEO Rex Tillerson said Wednesday he doesn't think the recent jump in oil prices is hurting the U.S. economy _ at least, not yet." ....
President Bush’s senior economic advisor at the time — argued in 2002 that the Iraq war would increase oil supplies and lower prices. From the Washington Times, 9/19/02:
As for the impact of a war with Iraq, “It depends how the war goes.” But he quickly adds that that “Under every plausible scenario, the negative effect will be quite small relative to the economic benefits that would come from a successful prosecution of the war.”
“The key issue is oil, and a regime change in Iraq would facilitate an increase in world oil,” which would drive down oil prices, giving the U.S. economy an added boost.
Originally posted by desert
I remember the opposite re Iraq war and oil prices
As for the impact of a war with Iraq, “It depends how the war goes.”
Originally posted by manta78
The article continues with:
"The head of the world's largest publicly traded oil company said that in 2008, when oil surged to near $150 per barrel, Americans didn't change their driving and spending habits until gasoline prices topped $4 per gallon. Average gas prices peaked at $4.11 in July that year."