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Ian Bremmer, president of Eurasia Group, talks about what the instability in the economies in the Middle East and Japan might mean globally.
It doesn't matter where the oil comes from, whether from your own back yard, or from half way around the world, the oil will be sold to whoever has the most money to pay for it - whether it be your neighbor next door, or the Japanese guy living on the other side of the planet.
Mr. Bremmer's characterization of current US foreign policy as one that there will be NO engagement is clearly an overstatement.
Rather it seems that it is the TYPE of engagement, not whether engagement is happening or not.
Thanks to too many big homes and big cars, the average American uses TWICE as much energy per capita as the average European or Japanese, not to mention Chinese or Indian. As long as Americans use at least twice as much energy per person as everyone else, this economy is going NOWHERE fast! The days of cheap energy are long gone!
Please ask your guest if the Saudis can make up for the Libyan shortfall, why have gas prices gone up.
Not to mention that most Libyan oil goes to Europe.
The political instability obviously represents uncertainty. That will affect investment in the region and keep oil prices high for us.
The cost of the Libyan intervention will also make the US less likely to be the banker of last resort. It will exacerbate our own debt crisis.
John Fund in WSJ on March 28 discussed the costs of the Libyan interventionhttp://online.wsj.com/article/SB10001424052748704471904576228750304920380.html?mod=WSJ_Opinion_MIDDLESecond"The Libyan Tab - How does the Obama administration plan to pay for its military operations in Libya?"
Victor Davis Hanson describes scenarios on how long the intervention may drag on:http://www.nationalreview.com/corner/263208/libyan-endgames-victor-davis-hanson"Libyan Endgames"
mr. bremmer, can you estimate the population of chinese and japanese immigrants moving to the usa in the next 10-20 years purely to escape their own ruined environments?
could the number be high enough to solve america's empty house problem?
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