Listen: One Segment 
Highlighting recent geo-political developments in the petroleum industry, this program examines some of the considerations underlying recent headlines. Although public attention has focused on the issue of Iraq’s weapons of mass destruction, economic analysts concentrated on the issue of Iraq’s oil and its potential effect on the world petroleum market. If UN sanctions against Iraq were lifted, the impact of so much oil becoming available on the international market might very well depress the price of petroleum below $10.00 per barrel. Russian opposition to recent American military preparations in the Middle East is rooted in a need to channel Iraqi oil profits toward paying off the large Iraqi debt to Russia. In addition, Russian fascist Vladimir Zhirinovsky has vigorously championed the major investment made my the Russian Lukoil company in Iraqi petroleum development. The broadcast also sets forth discussion of the enormous profits being made by Iraqi oil black-marketers, including people close to Saddam Hussein. The program touches on maneuvering by Conoco (one of the largest U.S. oil companies, controlled by Du Pont) in the former Soviet Union and Conoco’s dalliance with the Islamic-fundamentalist Taliban militia in Afghanistan.