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gulf war

            The Western and Gulf nations united together to form a coalition to.
             fight against Iraq that followed the United Nations resolution that Iraq.
             must pull out of Iraq on January 15, 1991. They had several reasons for.
             wanting Iraq out of Kuwait. "The 2 main reasons are the vast amounts oil in.
             the region which account for 53% of the world's known petroleum reserves.
             and the stability of the nations that have the oil."4 The 2 biggest in the.
             region are Saudi Arabia and Kuwait. The Saudis were afraid that Iraq would.
             invade Saudi Arabia just like Kuwait. .
             4AP Press Toronto Star (February 20, 1991) A16.
             "The United States depends on Middle East petroleum for about 25% of.
             its energy needs and other Western nations even more on Middle East."4 Many.
             of these nations have very few oil resources and if they did it would cost.
             too much to develop them like the estimated 300 billion barrels of oil in.
             the Alberta and Saskatchewan tar sands. "Other nations like Japan have very.
             few alternative sources for petroleum so they depend greatly on the oil.
             from the Middle East."1 Other sources of power are generally too expensive.
             to be practical or still under development. So any disruption of oil from.
             this region would seriously negatively affect the economies of the Western.
             nations, just as they were slipping into a recession which would not be.
             very good for the leaders of these countries at the ballot box. .
             1CNN The Gulf War (Video) (Atlanta, CNN News, 75 min., 1991).
             4AP Press Toronto Star (January 16, 1991) A15.
             However going to war or even the real possibility of it would give a.
             big short term boost to the economies of these nations by increasing the.
             price for a barrel of oil which would allow oil companies to make bigger.
             profits and there would be more exploration in North America to discover.
             new sources of oil. This would help boost the stock markets by increasing.
             positive activity in the trading of shares. Also by going to war, it would.

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