Venezuela Plans to Split State Oil Company

Mark Jones markjones011 at
Thu Jan 9 16:25:31 MST 2003

> -----Original Message-----
> From: owner-marxism at
> [mailto:owner-marxism at]On Behalf Of David Schanoes
> Sent: 09 January 2003 22:52
> To: marxism at
> Subject: Re: Venezuela Plans to Split State Oil Company
> I believe it is mistaken to describe the motivation for the attack on Iraq
> as part of a looming shortage of extractable petroleum.
> Statistics from the
> US Energy Information Agency indicate no such shortage with accessible
> reserves of petroleum actually increasing on a year to year basis.  EIA
> analyses also show the price of production of oil falling to near historic
> lows in the late 90s, approaching the record low cost of 1972.
> Prior to the OPEC price increase of 1999, particularly for 96,97,98 US and
> Multinational investment in new fields, exploration, development had been
> extremely high, with new reserves identified and developed particularly in
> the Gulf of Mexico.
> Control certainly is the issue, but I don't believe that control is
> predicated on a shortage.  Quite the reverse,  clearly the
> investment in oil
> production and its spectacularly declining price prior to the OPEC move
> where cause and effect of overproduction, and have everything to
> do with the
> social organization of capitalist production rather than the
> availability of
> a natural resource.
> The Caspian fields are not the largest, but they are large,
> estimated to be
> the 9th largest fields yet discovered, and indeed the Caspian is the scene
> of much conflict among Iran, Georgia, Kazakhstan, with shots being traded
> and gunboats deployed.
> Control in the Iraq case will certainly involve the destruction,
> or damaging
> of its oil producing apparatus.  And... I'm sure I'm not the first to say
> it, actually I think Bush did in his axis of evil speech, Iran
> looms as the
> next target in order to secure the Caspian region.

Davd, I don't want to seem insulting but you really don't know what you are
talking about.  You need to check in the archives here, or on the A-List or
on the energy resources list at yahoo groups and get up to speed. Then
we'll talk.


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