Oil's Well In Iraq

Discussion in 'Politics, Religion, Social Issues' started by FFTT, May 22, 2006.

  1. FFTT macrumors 68030

    FFTT

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    #1
    I came across this reference to Greg Palast's discussing his new book
    Armed Madhouse with Amy Goodman
    http://www.informationclearinghouse.info/article13055.htm

    I found his perspective on the mid-east oil wars made a lot of sense.

    GREG PALAST: Is the war in Iraq for oil? Yes, it's about the oil, but not for the oil. In my investigations for Armed Madhouse, I ended up with a story far more fascinating and difficult than I imagined. We didn't go in to grab the oil. Just the opposite. We went in to control the oil and make sure we didn't get it. It goes back to 1920, when the oil companies sat in a room in Brussels in a hotel room, drew a red line around Iraq and said, “There'll be no oil coming out of that nation.” They have to suppress oil coming out of Iraq. Otherwise, the price of oil will collapse, and OPEC and Saudi Arabia will collapse.

    Apparently, this is very much like DeBeers controlling the cost of diamonds
    by regulating the quantities available to the market thus propping up prices.


    .
     
  2. zimv20 macrumors 601

    zimv20

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  3. XNine macrumors 68040

    XNine

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    #3
    This is interesting. However, should the market start flooding with ethenol and bio-diesel engines, what will the big bad Oil Corporations do then? They'll HAVE to release the oil, or face certain extinction within years to come.
     
  4. FFTT thread starter macrumors 68030

    FFTT

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    #4
    Next stop Venezuela!

    I mean heck, he's selling gas for 12 cents a gallon down there. We can't have that going on up in these
    parts now can we.
     
  5. tristan macrumors 6502a

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    #5
    This is utter nonsense. Oil was coming out of Iraq in Saddam's time (oil for food) and its still coming out, just not quite as much. Any company would be happy to own the Iraqi oil rights - the oil in the ground is worth several trillion dollars.
     
  6. FFTT thread starter macrumors 68030

    FFTT

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    #6
    Of course certain people want to own the rights, but you would still not flood the market undermining profits made by supply and demand.
     
  7. skunk macrumors G4

    skunk

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    #7
    I do have some difficulty with the idea that Bushco failed on purpose in Iraq...
     
  8. FFTT thread starter macrumors 68030

    FFTT

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    #8
    You make a good point skunk.

    I doubt BushCo had any clue things would go so badly.

    I was just reading an Op Ed from Stratfor about the current situation over there.

    Apparently the ball isn't even in our court at the moment.
    These guys usually know what they are talking about.

    http://www.stratfor.com/


    In other words, the United States has become, to a great extent, a bystander. Washington can make whatever guarantees it wants, but the calculus by all sides now is whether they can secure their interests with their own resources. At this point, the United States is growing less and less relevant to the outcome in Iraq, though it remains urgently interested in what that outcome will be.

    If we had to guess, we would say that the political arrangement should work, more or less. But we don't have to guess. It is now nearly Memorial Day. The violence in Iraq will surge, but by July 4 there either will be clear signs that the Sunnis are controlling the insurgency -- or there won't. If they are controlling the insurgency, the United States will begin withdrawing troops in earnest. If they are not controlling the insurgency, the United States will begin withdrawing troops in earnest. Regardless of whether the deal holds, the U.S. war in Iraq is going to end: U.S. troops either will not be needed, or will not be useful.

    Thus, we are at a break point -- at least for the Americans.
     
  9. solvs macrumors 603

    solvs

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    #9
    I don't know, we've just failed so spectacularly. Hard to believe they did so poorly by accident. And continue to do so. Makes just about as much sense as anything else, I suppose.

    Gas is ridiculously expensive, and the oil companies are making money hand over fist.
     
  10. jamesmcd macrumors 6502a

    jamesmcd

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    #10
    Sounds like just another conspiracy theory to me.
     
  11. tristan macrumors 6502a

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    #11
    I do think that there's no coincidence that the price of oil has skyrocketed under Bush, and that it was likely foreseen that a bit of turmoil in the middle east would raise oil prices, which would be good for Bush's oil drilling buddies.

    However, they probably thought that the scenario would be a quick war in Iraq and some turmoil with Iran that would raise oil prices by +50% for a few years, not a long drawn out war in Iraq that would send oil through the roof and make the Republican party hated by everyone and possibly create a recession.
     

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