On the oil debate was RE: Oil and Overproduction

David Schanoes dmsch at attglobal.net
Tue Jan 14 06:41:20 MST 2003


Gary-

Thank you, and without referring to oil, I appreciate our disagreement.

I must state, however, that at points in the discussion with MJ I found
myself wondering, "Are we talking about oil and capitalism, or entropy and
heat death of the universe?"

One question, and not directly in the line of fire between scarcity and
overproduction,  should be explored, actually more than one--  But, if we
say the motivation of capital is to gain control of Iraqi oilfields, what
exactly does that mean, and what will it look like.  Will the US occupy the
fields either directly or through proxies and then assume ownership, again
directly or through proxies?  And will that make a bit of difference in
securing oil reserves, or oil markets, for the US when Iraqi production is
less than 5% of world output, when (here we go again) too much oil is being
produced, when the US will not assume a direct occupation, of the rest of
the Persiasn Gulf? Or perhaps it will?  What does control look like?
Particularly when the US dominates the global economy alread.y?

I think it is at least equally likely that the Iraqi productive capability
will be destroyed, either through direct action, or through a massive
shutdown of Iraqi industrial and civil infrastructure, a huge decline in
GDP, and brutal suppression of , first, the Iraqi oil workers.

DMS


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