Re: [Marxism] Re: Tariq Ali on the US election

[" Ian Pace" <ian@xxxxxxxxxxx>]

c>
> Ian Pace wrote:
> >
> >
> > Do others of you believe realistically that the spiralling situation in
the
> > Middle East could lead to Islamic militants gaining power in Iraq and
Saudi
> > Arabia, precipitating an unprecedented oil crisis and subsequent
depression
>
> 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.

Solidarity,
Ian



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