This week the United States and Britain launched one of the largest air strikes on Iraq in years. While both governments are downplaying the attack, saying it was "routine," some analysts predict they could be laying the groundwork for war.

And in Afghanistan, site of our first "victory" in the war on terror, Afghan President Hamid Karzai narrowly escaped an assassination attempt by a man wearing an Afghani army uniform. Big news... but hardly unexpected. We recently sent you a report by commodity analyst John Myers, who strongly believes that a new oil war is brewing in the Middle East. If so, it could send crude prices soaring -- meaning a sweet payday for early investors. It's a compelling argument. So compelling, in fact, that Forbes, which recently interviewed John on his commodity picks, contacted him again to get his views on the Mideast.

Given recent events, we thought it was important to send John's informative report to you again. If you missed his advice the first time, I urge you to see what John has to say.

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Gulf War II and the Coming Oil Crisis

Dear Daily Reckoning Reader,

Saddam Hussein is going down. George W. Bush has already announced his intention. For many the question is not "if," ... but "when." Even the most sensible voice in the cabinet, Secretary of State Colin Powell, has made it clear that Iraq is the next U.S. target.

Why?

As a Daily Reckoning reader put it this week on the discussion board: "Iraq: It's so obvious."

With 112 billion barrels of oil, at least according to Oil and Gas Journal, Iraq has the second-largest oil reserves in the world. And although you may not be aware of it... 90% of Iraq's oil exports -- 24.2 million barrels a month -- already go to the United States. Only the "invasion strategy" appears to remain in question.

Now, here's a fact that should be fairly obvious to all readers...

Arab Wars = Oil Profits

It's simple. Conflict in the Middle East invariably leads to higher oil prices. Consider recent history:

* The Yom Kippur War, 1972 -- fought between Israel and its Arab neighbors, it quadrupled the price of oil, from $3 to $12 a barrel.

* The Iranian Revolution, 1978 -- effectively removed one of the world's kingpin oil producers and pushed oil prices from $12 a barrel to $24 a barrel.

* The Iran/Iraq War, 1980 -- jump-started oil prices again, sending them from under $22 a barrel to over $35!

* Iraq invades Kuwait, 1990 -- propelled oil markets into the stratosphere. The price of crude climbed from $20 a barrel to over $35 a barrel.

In each case, investors who caught the move early made fortunes. So the question seems to me to be: What are you going to do about it?

I'm writing you today to suggest that if you want to position yourself to take advantage of the coming oil profits, I can recommend no better advice than that of John Myers.

You may recall the man, the myth, the legend... his portfolio is already so strong in the year 2002 that The Hulbert Financial Digest has recently profiled Myers as one of the leading resource investors in the newsletter industry. And in August, Forbes.com published a lengthy interview with Myers asking: "Your portfolio has gained 32% the first half of the year. How did you do it?"

The answer is quite clear. Myers is the insider's insider. He grew up in the resource business. "As a 14-year-old living on a farm outside of Calgary," the Forbes interview begins,"John Myers says he turned $20,000 into $150,000 over five years by buying Canadian and South African gold. At his father's recommendation, he bought the bullion at $35 and didn't sell until it reached $650.

"No surprise, then," Forbes continues, "that Myers -- still living in Calgary and now editor of John Myers' Outstanding Investments -- is a poster boy for investing in natural resources."

By knowing the industry inside and out, Myers has consistently turned profits from crisis situations... the electricity crisis in California two years ago... the natural gas shortage that plagued the East Coast last winter... and as he told the Forbes crew: "Gold has been especially strong [for us this year]. We took profits to the tune of 668% on Metallica Resources and 162% on Intrepid Minerals. We've also done well with some of our intermediate oil companies like KeyWest Energy, up 41% for us, and Canadian gas pick Niko Resources, which gained 102%."

Right now -- as we speak -– Myers is adroitly positioning his readers for quick profits from Gulf War II and the coming oil crisis. Don't hesitate to join them; click here to read your free copy of Myers' special report:

Vengeance, Blood and the Coming Oil Crisis http://www.agora-inc.com/reports/OST/YourProfitsHere

Cheers and good luck,

Slim

-- (Slim Pickens @ Dr Strangelove's.lab), September 07, 2002

Answers

America is evil. We must nuke ourselves in order to save the human race.

I am convinced that the pugs represent the greatest threat in history to the purity of precious bodily fluids,

-- (Col Jack Ripper @ B-52.Made in Seattle), September 07, 2002.