What would happen if the middle east stopped selling oil?

Answer 1

The Economy for many Middle East nations rely more on selling their oil then most other economies rely on consuming it. In other the words, the Middle Eastern Economy would collapse, and the consuming countries would just open the market to other oil sellers like Canada and Venesuela.

Answer 2

DING! DING! DING! DING! that is the only hundred billion greenback question!! Now it really is the answer: because oil organizations do not want the contest. that that they had stand to lose each and every thing if everyone actual succeeded in growing to be a renewable capacity source that did not damage the Earth. It became once that the oil barons would in basic terms pay the politicians in capacity large huge gobs of money as a thanks to purchase their complicity in protecting new gasoline technologies OFF the table. till the 80's. The oil baron men determined that it could be a lot a lot less complicated, and positively more cost-efficient, to get absolutely one of their own as President. so as that they tapped the Bush, who actual had an remarkable occupation as a wartime soldier and Intelligence specialist (Director of CIA less than Nixon), and had also made billions contained in the oil organisation. They tried to get him elected in 1980, yet couldn't get previous Reagan's large acceptance as an ex-actor. confronted with dropping the primaries (and subsequently the election) they did the in basic terms component they could. They made one very last pay-off. They bought their Bush a niche as Reagan's vp. Then, once Reagan finished his 2d time period, they confirmed their Bush to the international and received. They finally had their President. And his call? Bush. in spite of the indisputable fact that it did not very last, because a charasmatic hillbilly from Arkansas shouwed up and were given each and all of us rooting for him. Billy-boy is going after Bush with a vengence (which may change right into a recurring topic later in his presidency). besides, you get the idea. Now we've were given Bush popping out our a@@. i'm hoping this solutions your question.

Answer 3

The entire world economy would probably collapse. They cannot survive without selling it, and most countries cannot survive without purchasing it. We have plenty of oil in North America we could be using (ANWAR could keep us going a LONG time), but for whatever political reasons, we won't use it.

The entire makeup of our nation would change if we would just tap into ANWAR and stop being reliant on Arab oil. But, the Libs won't let us...lord forbid that the porcupine caribou loses a few of those hundreds of thousands of acres to breed on.

Answer 4

WW3? Nah we'd still have some oil stocks, from Russia, Kazakhstan etc but dependance on them would change global politics dramatically, economically im not sure of the implications of the rising oil prices as im not an economist, i cant help feeling that the US (and probbably every other country who hasn't got their own oil) would just try and invade anyway

Answer 5

I wish they would so we can get real about what the true supply is

also 80% of every barrel of oil goes to make other products besides gas

Petro chemicals is huge but we think it is only used for gas how dumb are we