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Periscope.(Interview)
ECONOMY
Oil Rivers Run Deep
The world's oil market was hit again last week when Saddam Hussein drew another arrow from his quiver, announcing a 30-day halt of Iraqi oil exports in protest of Israeli military action against the Palestinians. Saddam's gambit came only three days after Iran's supreme leader had called on all OPEC nations to take the same action. Oil prices, which have already risen 25 percent since mid-February, shot up by 5 percent. For even the most optimistic, it looked like Saddam had hit a bull's- eye, and that the U.S. economy--and the global market that it drives-- would plummet back into a recession.
In the end Saddam's ...
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