Western economies and the Gulf war
A prolonged Iran/Iraq war could mean economic and even political-military disaster for western countries dependent on Persian Gulf oil. The percentage of gross national product loss that the US, western Europe, and Japan would suffer is estimated for three levels of interruption and illustrates how global effects can be felt even when direct imports are not involved. Although the US has few options for projecting power into the Gulf region, a long-run expansion of military capability is essential. The economic damage of continued disruptions can be eased by using more coal, nuclear power, and natural gas even if it means removing some environmental and economic barriers. A combination of financial incentives and additions to the strategic oil and gas storage would help, but important change will come from a reappraisal of our military position. (DCK)
- Research Organization:
- Stanford Univ., CA
- OSTI ID:
- 6591331
- Journal Information:
- Energy Consum.; (United States), Journal Name: Energy Consum.; (United States)
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
02 PETROLEUM
PERSIAN GULF
PETROLEUM
SUPPLY DISRUPTION
ECONOMIC IMPACT
GLOBAL ASPECTS
NATIONAL SECURITY
WARFARE
ARABIAN SEA
ENERGY SOURCES
FOSSIL FUELS
FUELS
INDIAN OCEAN
SEAS
SECURITY
SURFACE WATERS
290200* - Energy Planning & Policy- Economics & Sociology
021000 - Petroleum- Legislation & Regulations
294002 - Energy Planning & Policy- Petroleum