Oil

dms dmschanoes at earthlink.net
Sat Aug 9 15:46:13 MDT 2003


----- Original Message -----
From: "Xenon Zi-Neng Yuan"

> attributing the military adventures singularly to the falling rate of
> profit seems just as simplistic as putting the blame uniquely on only one
> of any of the other reasons you mentioned (and for the record i've always
> believed that the popular "war for cheap oil" theory was way off the mark
> though).  i can see how the falling rate of profit may be a serious
> short-term or even mid-range concern, but i don't see how that
demonstrates
> that the depletion of oil is not a reality or a major consideration for
the
_________________

Comrade,

As so many like to point out on this list, saying something is simplistic,
right, wrong, incorrect, sectarian,etc. doesn't make it so.  You have to
provide an analysis.  I have provide back up analysis regarding this notion
of overproduction and the rate of profit to the list.  There is significant
information available regarding the weakness of the Hubbertist
production/discovery offset curves. I have provided some of that to the list
also.

I stated that the war was the result of overproduction in general as
reflected specifically and acutely in the oil industry.  If you have another
explanation that can account for the US destruction of Iraq, the "snub" of
the US govt request to invest in Iraq by the US oil industries, the
willingness of the US govt. to forego royalty payments and accept
contributions to the strategic reserve when prices are high, I would love to
read it.

If you don't, I understand.

dms







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