Word: oiled
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Dates: during 1990-1999
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...though, that a Saddam II, if it does happen, would be nothing like the original--at least not in the stock market. When the Gulf War began, the U.S. was in the throes of a banking crisis and slipping into recession. Saddam was bent on hanging on to his oil-rich conquest. Stocks were down, and oil prices had briefly doubled to $40 per bbl. There was a lot to fight for. This time around, stocks are high and oil is low. The economy is on a historic roll. And Saddam isn't strong enough to upset any of that...
...measure of failure could upset the markets. For example, today's benign inflation and low interest rates are partly the result of cheap oil prices. And Wall Street expects that a defeated Iraq would be allowed to flood the world with oil to raise money to rebuild, which is one reason the price of crude has slumped since October from $23 to $16 per bbl. But would Iraq be treated with such kindness if an allied mission were unsuccessful? Doubtful. Such an outcome could reverse psychology in the oil market and send prices higher, stoking inflation and squeezing stocks...
...success in the Persian Gulf would vindicate all those market patriots bidding up share prices. But because it is so widely expected, success would merely maintain the status quo--not inspire a whole new bull market. And for those who worry about a bungle, stocks of defense contractors, oil producers and oil services companies would be good hedges. Remember, those generals on Wall Street wear suits, not battle fatigues. They don't really know a thing about...
...Japanese and American cars modified to blow off the doors and pin back the ears. It's a mix of black, white and Hispanic kids with one language: words like slicks and tranny, struts and squeeze. Someone says, "Let's go," and they pull out single file, sucking oil wells dry as they caravan toward the drag strip--a remote industrial stretch in the nothing-else-to-do town of Sylmar...
...Meier believes that while the hostages will probably be released, Russian gunslingers will likely keep things interesting in the region as long as the oil is routed out of their control...