[Marxism] Re: Tariq Ali on the US election

Ian Pace ian at ianpace.com
Sat Aug 7 05:04:56 MDT 2004

> Ian Pace wrote:
> >
> >
> > Do others of you believe realistically that the spiralling situation in
> > Middle East could lead to Islamic militants gaining power in Iraq and
> > Arabia, precipitating an unprecedented oil crisis and subsequent
> Those states would still want to sell their oil. It would be a huge
> defeat for u.s. hegemony in the capitalist world, but it would not
> necessarily create an oil crisis (or a crisis of capitalism).
Yes, but they could vastly up the prices, perhaps even more so than in the
1970s (and maybe Chavez in Venezuela would go along with this?). That could
itself cause a major slump in the West.


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