To the Point

Iraq, OPEC and the Future of Oil

The US consumes more oil than any country in the world. Iraq produces more of it than any other nation except Saudi Arabia. Yet, despite fears that a US attack on Iraq might endanger oil supplies, OPEC decided not to increase production at its meeting today in Osaka, Japan. How would Saddam Hussein respond it the US were to attack? If he were overthrown, what would happen to control of the world-s markets? How would that shift of power impact consumers? As oil prices fluctuate and prospects for war rise and fall, we look at international politics and price of foreign oil with policy directors and consultants to the American petroleum industry, and a former executive of British Petroleum. Jeffrey Kaye of public television-s NewsHour with Jim Lehrer guest hosts. Newsmaker: Bush Puts Iraq Resolution before Congress President Bush is asking Congress for the authority to use military force to overthrow and disarm Saddam Hussein. He has indicated the United States will take action if the United Nation balks. Karen Tumulty, national political correspondent for Time magazine, has been following the President-s campaign against Iraq in the US and the UN. Reporter-s Notebook: Tyco-s Boss Kozlowski Goes Crazy with Company Money Dennis Kozlowski spent millions of dollars on furniture, films, homes, parties and other industrial perks, charging it all to his company. The former CEO of Tyco International is accused of illegally paying himself and other senior executives nearly 00,000,000 from company coffers. Professor Rakesh Khurana of Harvard Business School checks the balance of profitability, personality and performance within the -leadership consulting industrial complex.-