NO. 51



Chalabi Says World Cannot Live without Iraqi/Kuwaiti Oil

The Iraqi Oil Minister, Mr. Isam al-Chalabi, has predicted that oil pricescould rise to $50/B because there is no way that the world can live withoutIraqi/Kuwaiti oil in the long run. In a statement to Reuters on 18 September, hesaid that the "prices will continue to go up and up because there is no wayof replacing Iraqi oil in the long run. Prices could rise to $40-50/B. Just waitand see." He added...