Can the loss of Iraqi Oil flow be part to blame for the higher prices from crude?

dahunan

Lifer
Jan 10, 2002
18,191
3
0
Honest question... I should start with... I don't know how much is back online and how much isn't. For all I know.. Iraqi could be selling at pre-occupation rates.. but somehow I doubt it

Anyhow.. the question seems obvious... Iraq.. huge supplier of oil to the world markets.. had production cut to zero at one pt... SO.. can any of these sky high prices could have to do with Iraq not selling enough oil on the world stage?
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Surely some, but as far as I know supply has mostly mirrored demand increases in recent years. The dollar's fall from grace is worth something like half of the rise in oil prices, which leaves the rest of the gain to hysteria and speculation.
 

AnnonUSA

Senior member
Nov 18, 2007
468
0
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So does anyone believe the price of Crude will fall when Iraq resumes full production?




The answer is no.
 

lupi

Lifer
Apr 8, 2001
32,539
260
126
There is so much speculation that has raised the price of crude over the natural supply/demand curve that any singular event is about meaningless as it's the "feelings" of the commodity traders screwing us as much as anything else.
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
Originally posted by: lupi
There is so much speculation that has raised the price of crude over the natural supply/demand curve

that any singular event is about meaningless as it's the "feelings" of the commodity traders screwing us as much as anything else.

Why are both tolerated and actually liked by the American people?
 

Craig234

Lifer
May 1, 2006
38,548
348
126
Originally posted by: dmcowen674
Originally posted by: lupi
There is so much speculation that has raised the price of crude over the natural supply/demand curve

that any singular event is about meaningless as it's the "feelings" of the commodity traders screwing us as much as anything else.

Why are both tolerated and actually liked by the American people?

One answer is that the American people's political power has been far separated from the issue. Few understand anything about it, and know how to do anything about it.
 

Orignal Earl

Diamond Member
Oct 27, 2005
8,059
55
86
Iraq is now the US's 5th largest supplier of crude, before the war I'm sure that number was quite a bit lower

I wonder how much the US mil machine burns per month also
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
Originally posted by: Craig234
Originally posted by: dmcowen674
Originally posted by: lupi
There is so much speculation that has raised the price of crude over the natural supply/demand curve

that any singular event is about meaningless as it's the "feelings" of the commodity traders screwing us as much as anything else.

Why are both tolerated and actually liked by the American people?

One answer is that the American people's political power has been far separated from the issue. Few understand anything about it, and know how to do anything about it.

What can the people do about it?
 

dphantom

Diamond Member
Jan 14, 2005
4,763
326
126
Originally posted by: Orignal Earl
Iraq is now the US's 5th largest supplier of crude, before the war I'm sure that number was quite a bit lower

I wonder how much the US mil machine burns per month also

A drop in the bucket compared to daily American consumer use in driving. A mechanized division uses around 100K - 200K gallons per day in combat operations (any loggies out there can correct me if I am too off base).
 

Craig234

Lifer
May 1, 2006
38,548
348
126
Originally posted by: dmcowen674
Originally posted by: Craig234
Originally posted by: dmcowen674
Originally posted by: lupi
There is so much speculation that has raised the price of crude over the natural supply/demand curve

that any singular event is about meaningless as it's the "feelings" of the commodity traders screwing us as much as anything else.

Why are both tolerated and actually liked by the American people?

One answer is that the American people's political power has been far separated from the issue. Few understand anything about it, and know how to do anything about it.

What can the people do about it?

Ask the representatives to reduce the role of special interest money in our elections, make that a defining issue in their votes. Talk to people they know to do the same.

They can also support the independent political media who will tell the truth on issues, such as magazines like The Atlantic, The Nation and others, and web sites like Salon.com.

If they have cable, they can watch shows like the BBC's Newsnight, who has aired reports byt the reported I linked in my first post, and support shows like PBS's Frontline.
 

AndrewR

Lifer
Oct 9, 1999
11,157
0
0
Rampant speculation and the decline of the dollar have caused the increase in the price of crude, particularly the former. OPEC has excess capacity and has declined to increase production quotas because supply is adequate for global demand -- an imbalance there is not the reason for the increase.

Further, Iraq's oil output was limited anyway by UN sanction so it wasn't producing at record levels prior to the invasion. Also, Iraqi oil output is relatively strong right now, last I checked.

Originally posted by: Craig234
Here is one response to your question, 'yes'.

Alter's site?? Typical tripe from that trash monger. Plus, that "article" is nearly two years old, which has no bearing on the current market and rapid rise of the price of oil over the last year.
 

Craig234

Lifer
May 1, 2006
38,548
348
126
Originally posted by: AndrewR
Originally posted by: Craig234
Here is one response to your question, 'yes'.

Alter's site?? Typical tripe from that trash monger. Plus, that "article" is nearly two years old, which has no bearing on the current market and rapid rise of the price of oil over the last year.

You discredit yourself with your fact-free attack on the good source, both the site and the author of the article I linked, who is a leading investigative journalist.

You come across as one of the horde of utterly, willfully ignorant people who will shout your parroted 'opinion' as loudly as you can, without any regard for the truth.

The issue of the relation of oil prices and the Iraq invasion spans more than the last year of spiking prices. You may not care about the facts, but I'm not posting for you, but for others.
 

dphantom

Diamond Member
Jan 14, 2005
4,763
326
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Originally posted by: Craig234
Here is one response to your question, 'yes'.

Post a credible source. Alter is completely biased. I would listen to MSM before I bothered with that site.
 
Sep 12, 2004
16,852
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Originally posted by: Craig234
Originally posted by: AndrewR
Originally posted by: Craig234
Here is one response to your question, 'yes'.

Alter's site?? Typical tripe from that trash monger. Plus, that "article" is nearly two years old, which has no bearing on the current market and rapid rise of the price of oil over the last year.

You discredit yourself with your fact-free attack on the good source, both the site and the author of the article I linked, who is a leading investigative journalist.

You come across as one of the horde of utterly, willfully ignorant people who will shout your parroted 'opinion' as loudly as you can, without any regard for the truth.

The issue of the relation of oil prices and the Iraq invasion spans more than the last year of spiking prices. You may not care about the facts, but I'm not posting for you, but for others.
Palast is infamous for his anti-war spin and diatribes. You can call that a "fact-free" observation if you want but his BDS blinders color everything he writes on Iraq. That's a plain fact. He's only slightly more objective than Juan Cole in wielding his bitter and bile-filled BDS pen, and that's not saying much.

Edit: As far as oil production, Iraq is nearly at pre-war levels and should be surpassing pre-war levels in the near future:

http://www.timesonline.co.uk/t...raq/article3285580.ece
 

AndrewR

Lifer
Oct 9, 1999
11,157
0
0
Originally posted by: Craig234
Originally posted by: AndrewR
Originally posted by: Craig234
Here is one response to your question, 'yes'.

Alter's site?? Typical tripe from that trash monger. Plus, that "article" is nearly two years old, which has no bearing on the current market and rapid rise of the price of oil over the last year.

You discredit yourself with your fact-free attack on the good source, both the site and the author of the article I linked, who is a leading investigative journalist.

You come across as one of the horde of utterly, willfully ignorant people who will shout your parroted 'opinion' as loudly as you can, without any regard for the truth.

The issue of the relation of oil prices and the Iraq invasion spans more than the last year of spiking prices. You may not care about the facts, but I'm not posting for you, but for others.

And you ignored the facts I posted above my response to your "article". Nice try, but your lack of a credible response, as opposed to posting something from Alternet, is telling of not only your understanding of the issue but also your inability to conduct a meaningful discussion. Thanks for playing.

Since you want facts, try these. Pay particular attention to the fact that Saudi Arabia has historically maintained enough spare production capacity to account for Iraq's entire oil production output. You also might like the bright, colorful charts which show a steady increase in oil output since the 1980s.
 

bamacre

Lifer
Jul 1, 2004
21,030
2
61
Originally posted by: TastesLikeChicken
Originally posted by: bamacre
Originally posted by: TastesLikeChicken
Palast is infamous for his anti-war spin and diatribes.

We all know what you're infamous for. ;)
Go troll somewhere else.

Well, I was gonna say you're infamous for your intelligent and skillful debate. Your logical points of view regarding the policies and actions of our current administration, and our government in general. Your staunch support for freedoms and liberties for the American people.

However your quick move to self-defense tells me that you disagree with my assessment. ;)
 

Orignal Earl

Diamond Member
Oct 27, 2005
8,059
55
86
Originally posted by: dphantom
Originally posted by: Orignal Earl
Iraq is now the US's 5th largest supplier of crude, before the war I'm sure that number was quite a bit lower

I wonder how much the US mil machine burns per month also

A drop in the bucket compared to daily American consumer use in driving. A mechanized division uses around 100K - 200K gallons per day in combat operations (any loggies out there can correct me if I am too off base).

Ah ya, when you compare to US consumers it is a drop in the bucket

FACT 1: The DoD's total primary energy consumption in Fiscal Year 2006 was 1100 trillion Btu. It corresponds to only 1% of total energy consumption in USA. For those of you who think that this is not much then read the next sentence.

Nigeria, with a population of more than 140 million, consumes as much energy as the U.S. military.

The DoD per capita[2] energy consumption (524 trillion Btu) is 10 times more than per capita energy consumption in China, or 30 times more than that of Africa.

Total final energy consumption (called site delivered energy by DoD) of the DoD was 844 trillion Btu in FY2006.

I guess you could also say that Iraq total output would be a drop in the bucket compared to what the DOD burns

http://www.energybulletin.net/29925.html
 

dphantom

Diamond Member
Jan 14, 2005
4,763
326
126
Originally posted by: Orignal Earl
Originally posted by: dphantom
Originally posted by: Orignal Earl
Iraq is now the US's 5th largest supplier of crude, before the war I'm sure that number was quite a bit lower

I wonder how much the US mil machine burns per month also

A drop in the bucket compared to daily American consumer use in driving. A mechanized division uses around 100K - 200K gallons per day in combat operations (any loggies out there can correct me if I am too off base).

Ah ya, when you compare to US consumers it is a drop in the bucket

FACT 1: The DoD's total primary energy consumption in Fiscal Year 2006 was 1100 trillion Btu. It corresponds to only 1% of total energy consumption in USA. For those of you who think that this is not much then read the next sentence.

Nigeria, with a population of more than 140 million, consumes as much energy as the U.S. military.

The DoD per capita[2] energy consumption (524 trillion Btu) is 10 times more than per capita energy consumption in China, or 30 times more than that of Africa.

Total final energy consumption (called site delivered energy by DoD) of the DoD was 844 trillion Btu in FY2006.

I guess you could also say that Iraq total output would be a drop in the bucket compared to what the DOD burns

http://www.energybulletin.net/29925.html

Isn't that the point of this thread, US consumers? US military has a negligible impact on energy prices. Of far more importance is you driving to work everyday. Reducing your personal energy consumption multiplied by everyone else would significantly change the consumption rates.
 
Sep 12, 2004
16,852
59
86
Originally posted by: bamacre
Originally posted by: TastesLikeChicken
Originally posted by: bamacre
Originally posted by: TastesLikeChicken
Palast is infamous for his anti-war spin and diatribes.

We all know what you're infamous for. ;)
Go troll somewhere else.

Well, I was gonna say you're infamous for your intelligent and skillful debate. Your logical points of view regarding the policies and actions of our current administration, and our government in general. Your staunch support for freedoms and liberties for the American people.

However your quick move to self-defense tells me that you disagree with my assessment. ;)
I wouldn't care if you so impressed that you planned to send your sister and mother to me and comp their fees. This thread is not about me.

Stop with the trollish attempt at a thread derail.