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Oil could be anti-war weapon
KUALA LUMPUR, Malaysia -- Islamic states are debating whether to use oil as a bargaining chip to avoid war in Iraq, Malaysian Prime Minister Mahathir Mohamad says. The Malaysian leader said oil producing Islamic nations were talking about using the tactic to exert more anti-war pressure on the West, but no firm measures had yet been undertaken. "There has been a suggestion that we look at using our oil wells in order to exert pressure," Mahathir said at the end of a special meeting of Islamic leaders and ministers on Wednesday. "How this can be done is something else, but there is a consensus as to the need for us to think about these things ... This is something very dangerous. Some say it may cause a lot of repercussions but if we do not think about it we will not be able to exert some influence." Malaysia is the current chair of the Organization of the Islamic Conference (OIC) and also the Non-Aligned Movement of 116 developing nations, both of which met this week in Kuala Lumpur in a bid to stave off war in the Middle East. Delegates from 49 countries at the OIC meet -- including almost 20 major oil producers -- expressed their opposition to U.S. and British plans for unilateral military action against Iraq if Baghdad did not destroy its weapons of mass destruction. That stance was shared by NAM members who, like the OIC, also called on Iraq to fully comply with U.N. resolutions. United standMahathir said with both movements making up a sizeable chunk of the world's population, it was important they took a united stand to have their voices heard against the more powerful Western nations. It is not the first time Mahathir has proposed Islamic states using oil as a weapon to protect their interests against the West and developed countries. But so far, the major Islamic oil producers, including the world's biggest oil exporter in Saudi Arabia, have ignored such calls. The last time oil supplies were used for political purposes was in the early 1970s when Arab oil exporters introduced an embargo on the West for its support of Israel. That move led to a sharp increase in oil prices and eventually triggered a recession. It also forced a rise in oil production by non-Arab states. This in turn bit back at the income of those Arab nations. Mahathir said Islamic states were aware of the consequences of manipulating the oil market, particularly the possible severe impact on developing nations that are more effected by increases in oil prices. "Of course there were some views that such weapons could rebound and we might have to pay a very high price," he said. "We agreed that we should think about it, not just dismiss it." Reuters contributed to this report.
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