Iraq Oil slated to rival Saudi's in 7 years

Discussion in 'Politics, Religion, Social Issues' started by rasmasyean, Dec 6, 2010.

  1. rasmasyean macrumors 6502a

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    #1
    Iraq oil exports rise in Nov. to 1.912 mln bpd

    Dec 5 (Reuters) - Iraq's oil exports rose slightly to 1.912 million barrels per day in November from 1.9 million bpd in October, the head of the State Oil Marketing Organisation said on Sunday.

    SOMO head Falah Alamri told Reuters he expects oil exports to continue rising over the coming months. He did not give further details.

    OPEC member Iraq has signed deals with international oil companies that have the potential to boost its output capacity to 12 million bpd in seven years from the current 2.5 million bpd, rivalling top oil producer Saudi Arabia.
    (Reporting by Rania El Gamal; Editing by Jim Loney)

    http://www.reuters.com/article/idUSLDE6B007020101205




    Woohoo! Or Booo! If you're into the "green movement". :p

    Looks like we're gonna be stuck on oil for a while longer...unless China chews it all up.
    What's going to happen in the next comming years?
    Will Iraq become the new military power in the area?
    Will this make Iran tremble? Especially with all the US weapons they will prolly buy with this money?
    Will this bring economic prosperity and stability to the region? Or will it lead to more war as the fate of Iran's oil is determined by local politicians in the near future with more force?
    Maybe this is why Iran is presumably racing toward the bomb?

    What do you think?

    Discuss. :)
     
  2. NT1440 macrumors G4

    NT1440

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    #2
    You do realize that Iran is completely surround on all fronts by major US military bases right?

    Anyway, I'm sure this won't help the people of Iraq at all, just the wealthy and powerful.
     
  3. Queso macrumors G4

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    #3
    Exactly like Saudi then.
     
  4. miloblithe macrumors 68020

    miloblithe

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    #4
    something doesn't add up here. The current amount is 2.5 mbpd in the speculation that it will rise to 12 mbpd in 7 years, but actually the current amount is 1.912 mbpd in the paragraph above.

    Like the idea that they'll get to 12 mbpd, this doesn't add up.
     
  5. Ugg macrumors 68000

    Ugg

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    #5
    I don't think it means much really, too many other oil fields are going dry. Iraq's additional output will only fill the gap, not supply additional demand. And, most importantly, it will put more money into a corrupt middle eastern kleptocracy. Nobody wins on the last point.
     
  6. CHAOS STEP macrumors 6502

    CHAOS STEP

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    #6
    Perhaps we should invade this 'Iraq' country, replace it's regime and set it up so our oil companies can take advantage of this!
     
  7. iJohnHenry macrumors P6

    iJohnHenry

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    #7
    Send Dick Cheney over there with a shotgun, and it will be done.
     
  8. citizenzen macrumors 65816

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    #8
    While I am into the green movement, I do understand the allure of oil: a great deal of power at a cheap price. It isn't a mystery why we find ourselves using so much of it.

    It will be interesting to see in these next few decades how humans deal with the conflicting need for oil vs. climate change. I have little doubt that we'll endure almost anything in order to maintain our increasing demand for petroleum products. We're far more suited to last-second swerves than we are to long-term planning. It should prove interesting.
     
  9. OutThere macrumors 603

    OutThere

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    #9
    Is there any question anymore about why we went to war there? Disgusting.
     
  10. Peterkro macrumors 68020

    Peterkro

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    #10
    Frankly there never was any doubt about the reason for the war,Russia had tied up oil extraction in Iraq and Saddam was one of the leaders of the movement to separate oil pricing from the dollar,who has control of extraction now? that's not to say there aren't many in Iraq who are willing to fight this carve up.
     
  11. takao macrumors 68040

    takao

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    #11
    fitting article from the english spiegel version

    http://www.spiegel.de/international/world/0,1518,732984,00.html

     
  12. SactoGuy18 macrumors 68020

    SactoGuy18

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    #12
    If it weren't for the political situation in Iraq and Iran, both countries would be producing for export just as much oil as Saudi Arabia--just the proven reserves in both countries are gigantic.

    Mind you, improvements in battery technology and improving technology in extracting motor fuels from oil-laden algae could actually reduce the demand for pumping crude oil out of the ground over the next 25-30 years....
     
  13. Mavimao macrumors 6502a

    Mavimao

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    #13
    The world uses 85 billion barrels a day. Iraq's reserves are "proven" at 143 billion barrels according to this article

    That's roughly 4.5 years of our global oil usage.

    In any case, we don't need to run out of oil in order to have a problem, just having less oil can cause major social and economic crises.

    Read up on Peak Oil. Or watch this video:

    http://www.youtube.com/watch?v=cwNgNyiXPLk

    This is a huge problem that is staring at us straight in the face...
     
  14. bobob macrumors 68030

    bobob

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    #14
    At a cost of 100,000 civilian deaths, it seems this would most appeal to those into the "red movement", as in blood.
     
  15. SactoGuy18 macrumors 68020

    SactoGuy18

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    #15
    I think you mean 85 million, not 85 billion. :)

    However, the prospect of extracting motor fuels (diesel fuel, gasoline (neé petrol), and kerosene) from oil-laden algae and dramatic improvements in battery technology could start to reduce the demand for crude oil. We are now about the begin the transition to the post crude oil age as the technologies I mention start to mature over the next 20 years, just like kerosene from crude oil replaced whale oil for oil-fired lighting lamps during the 1860's.
     
  16. iJohnHenry macrumors P6

    iJohnHenry

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    #16
    I hope I live long enough to witness a battery-powered trans-Atlantic flight. :rolleyes:
     
  17. Eraserhead macrumors G4

    Eraserhead

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    #17
    Trans-atlantic flights (as well as those from, say Jakarta to Australia) are the only ones that are really necessary - pretty much every other flight can be replaced by high-speed rail.
     
  18. iJohnHenry macrumors P6

    iJohnHenry

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  19. Eraserhead macrumors G4

    Eraserhead

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    #19
    Well or that.

    I thought it'd be pretty close, but for interests sake look at the great circle (the fastest route mathematically between two cities) between Beijing and Mexico City - its not the worst example, or the best, but a surprisingly large percentage of it is over land. If a high speed line was built you could probably do the journey in a little over 40 hours, even at current high-speed train speeds, which isn't totally ideal - but isn't actually particularly slow either.

    Now sure some journeys are worse than this example (Shanghai to LA is quite a lot over water) - but still, it can't be worse than the 40 hours from Beijing to Mexico City.
     
  20. firestarter macrumors 603

    firestarter

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    #20
    Hydrogen powered jet airliner.

    We can create hydrogen from electricity...
     

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