If we leave Iraq in Chaos what would the price of gas be?

Question

Worse case scenerio if the USA withdraws from Iraq suggest that an open civil war will lead to Iran, Saudi Arabia, Syria, Jordan and, Turkey getting dragged in due to ethnic and national interests. With the fear of the conflict spreading and the world damand (thanks mostly to China) ever increasing, how much more will the price of gas be and what would that do to the US economy (including cost of living, unemployment and, inflation)?

Answer 1

What, you expect someone else to write your doctoral thesis for you? Your question is beyond the scope of Yahoo Answers. Man. If this were to happen, then there would be worldwide repurcussions and probably a lot of different prices would go up. Companies would probably cut back on costs which will result in people being fired. Bad things.

We would be headed for a disaster of biblical proportions.

Real wrath-of-God type stuff.

Fire and brimstone coming down from the skies. Rivers and seas boiling.

Forty years of darkness. Earthquakes, volcanoes...

The dead rising from the grave.

Human sacrifice, dogs and cats living together - mass hysteria.

Answer 2

The price of gas (ie: oil) is completely arbitrary and determined only by those who control it. We currently receive no oil from Iraq. Since this is the least we can get, why should it get any more expensive? Because the oil companies can raise prices at will, and if they think the market will allow it, they will do so. It has nothing to do with the situation in Iraq, no matter what it is.

Answer 3

It would depend on how wide spread the conflict was and if it interfered with other nation's oil production capability or the oil producing country's need to raise capital by raising the price of crude.

Answer 4

in that case you better sell your car and buy a bike, it's friendlier for the environment too.

Answer 5

we cant possibly know this!