oil

Daru Rateau darurateau at doramail.com
Sun Aug 10 04:29:33 MDT 2003


DMS in mid stride writes:

>>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.<<

I have to agree with DMS. The overproduction is well-
documented--by the oil industry itself. There is
a big difference between 'cheap' oil being 13 dollars
a barrel and it being now around 30 dollars a barrel.
US and UK oil companies really didn't like the 'food
for oil' program (even as the UN and the US stole
shamelessly from it)and what Iraqi oil was doing to
world prices. Note now how UK 'global' oil interests
will sell off North Sea holdings and try to diversify
into Russian and Iraqi oil. Note, too, how the
Japanese thought it was time to go ahead with a major
project in Iran--higher oil prices help sustain ex-
pensive and possibly speculative development. But
then note also how the US used 'security considera-
tions' to ruin the Japanese-Iran development deal.


DR


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