Iraq to pump less oil this year than last year.

[Strk]

Originally posted by: conjur

Originally posted by: techs

Originally posted by: conjur
Nice little chart of Iraq's [lack of] oil production
http://www.latimes.com/media/thumbnails/graphic/2006-01/21602329.gif

Honestly, why would Bush/Cheney want Iraq pumping more oil? Everything they have done has been to aid the oil companies who are benefitting from the lack of Iraqi oil production. I predict we will see oil drop over the summer as the Nov. election gets closer.

Oil's not going to drop. It started to and then they ratcheted up the Iran war rhetoric. They have to keep the per barrel price of oil up around $60 or high in order to make the oil sands in Canada economically feasible. Why do you think DICK was up in Alberta last year?

I thought the magic number for the oil sands was $35?

 

[raildogg]

Government should stay out of the economy. Let the market decide the supply and demand of oil. We know when the government interferes, bad things happen.

 

[raildogg]

Originally posted by: ntdz

Originally posted by: EatSpam
But...but...but... the terrarists...last throes...free-dumb... starts humming "America Fvck Yeah."

Originally posted by: BBond
But...but...but... I thought Bush said Iraqi oil would pay for rebuilding Iraq after we finished blowing it up for absolutely no reason whatsoever???

Originally posted by: slyedog
but, but, but they are not counting the millions of barrels that bush and cheney steal every month as production

What's with the new trend of the liberals starting out all their responces with "But but but?"

Its a sign that the Democratic party will lose big time again in 06 and 08. Its all good though.

People are tired of the Ted Kennedys, Chucky Schumers and these radicals here. The Republicans might be corrupt, but the Demoncats will surely make things a lot worse. At least until clowns run the Democratic party.

 

[conjur]

Originally posted by: Strk

Originally posted by: conjur

Originally posted by: techs

Originally posted by: conjur
Nice little chart of Iraq's [lack of] oil production
http://www.latimes.com/media/thumbnails/graphic/2006-01/21602329.gif

Honestly, why would Bush/Cheney want Iraq pumping more oil? Everything they have done has been to aid the oil companies who are benefitting from the lack of Iraqi oil production. I predict we will see oil drop over the summer as the Nov. election gets closer.

Oil's not going to drop. It started to and then they ratcheted up the Iran war rhetoric. They have to keep the per barrel price of oil up around $60 or high in order to make the oil sands in Canada economically feasible. Why do you think DICK was up in Alberta last year?

I thought the magic number for the oil sands was $35?

I believe that's more of a break-even point. Can't imagine the oil companies would risk huge investments just to break even. Esp. after their record profits and lower taxes from last year.

And, raildogg, please stop quoting off-topic attempts at thread hijacking.

 

[conjur]

Originally posted by: raildogg
Government should stay out of the economy. Let the market decide the supply and demand of oil. We know when the government interferes, bad things happen.

Ayup. Look what happened to oil when the US government invaded Iraq.

 

[Whoozyerdaddy]

Originally posted by: conjur

Originally posted by: Strk

Originally posted by: conjur

Originally posted by: techs

Originally posted by: conjur
Nice little chart of Iraq's [lack of] oil production
http://www.latimes.com/media/thumbnails/graphic/2006-01/21602329.gif

Honestly, why would Bush/Cheney want Iraq pumping more oil? Everything they have done has been to aid the oil companies who are benefitting from the lack of Iraqi oil production. I predict we will see oil drop over the summer as the Nov. election gets closer.

Oil's not going to drop. It started to and then they ratcheted up the Iran war rhetoric. They have to keep the per barrel price of oil up around $60 or high in order to make the oil sands in Canada economically feasible. Why do you think DICK was up in Alberta last year?

I thought the magic number for the oil sands was $35?

I believe that's more of a break-even point. Can't imagine the oil companies would risk huge investments just to break even. Esp. after their record profits and lower taxes from last year.

And, raildogg, please stop quoting off-topic attempts at thread hijacking.

I don't know about anywhere else... break-even on Alaska oil is $14/barrel.

 

[conjur]

That's not oil sands, though, is it? But, your off-topic post is noted.

 

[Aimster]

Saddam was pumping out more oil than the U.S

Good Job U.S

 

[techs]

Originally posted by: Strk

Originally posted by: conjur

Originally posted by: techs

Originally posted by: conjur
Nice little chart of Iraq's [lack of] oil production
http://www.latimes.com/media/thumbnails/graphic/2006-01/21602329.gif

Honestly, why would Bush/Cheney want Iraq pumping more oil? Everything they have done has been to aid the oil companies who are benefitting from the lack of Iraqi oil production. I predict we will see oil drop over the summer as the Nov. election gets closer.

Oil's not going to drop. It started to and then they ratcheted up the Iran war rhetoric. They have to keep the per barrel price of oil up around $60 or high in order to make the oil sands in Canada economically feasible. Why do you think DICK was up in Alberta last year?

I thought the magic number for the oil sands was $35?

Before a company will invest billions to further develope oil sands they need to be assured that the long term price of oil will stay abouve a certain level.
It is possible to envision events that might occur, unlikely but possible, that may lower the price of oil below 35.00.
What events? Iraq stabiliizes and production soars. The world finally decides it has had enough of Chinas criminal trade practices and sets a tariff equal to the amount the Chinese are artificially fixing their currency at. Iran and the west settle the A bomb issue
Theses two things, the slowing of Chinas oil increase needs and the expansion of Iraqi oil, along with the increased production that will be coming on line shortly which is the result of todays high prices COUPLED with a US government that is not in the oil companies pockets could drop oil below 35.

 

[raildogg]

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

 

[raildogg]

Originally posted by: conjur
That's not oil sands, though, is it? But, your off-topic post is noted.

Your off-topic post in the thread about the Pope is also noted.

 

[Strk]

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

 

[raildogg]

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

So if all the oil wells in Iraq are opened up tomorow, will the price of oil suddenly drop by that much the day after?

 

[Strk]

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

So if all the oil wells in Iraq are opened up tomorow, will the price of oil suddenly drop by that much the day after?

The day after? You could see a bit of a change, but given a little time, you'd see a large drop in prices. You're talking about a global market consuming anywhere between 80 and 100 million barrels of oil a day. Iraq is currently pumping out 1.8 or less, but can easily pump out several times that if there was stability in the country. At their peak, Iraq was pumping three million barrels a day and that was a while ago.

 

[raildogg]

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

So if all the oil wells in Iraq are opened up tomorow, will the price of oil suddenly drop by that much the day after?

The day after? You could see a bit of a change, but given a little time, you'd see a large drop in prices. You're talking about a global market consuming anywhere between 80 and 100 million barrels of oil a day. Iraq is currently pumping out 1.8 or less, but can easily pump out several times that if there was stability in the country. At their peak, Iraq was pumping three million barrels a day and that was a while ago.

Can all that oil be handled and refined? That is the question.

The demand exceeds supply at this moment. Iraq's increase in oil shipments will help, but the question is, by how much?

We are cutting back our dependency on oil while India and China and many other countries demand grows and grows. Our minor cutbacks won't offset their greater demand.

 

[Strk]

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

So if all the oil wells in Iraq are opened up tomorow, will the price of oil suddenly drop by that much the day after?

The day after? You could see a bit of a change, but given a little time, you'd see a large drop in prices. You're talking about a global market consuming anywhere between 80 and 100 million barrels of oil a day. Iraq is currently pumping out 1.8 or less, but can easily pump out several times that if there was stability in the country. At their peak, Iraq was pumping three million barrels a day and that was a while ago.

Can all that oil be handled and refined? That is the question.

The demand exceeds supply at this moment. Iraq's increase in oil shipments will help, but the question is, by how much?

We are cutting back our dependency on oil while India and China and many other countries demand grows and grows. Our minor cutbacks won't offset their greater demand.

We're cutting back our dependency?

 

[raildogg]

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Strk

Originally posted by: raildogg

Originally posted by: Aimster
Saddam was pumping out more oil than the U.S

Good Job U.S

LOL wtf is your problem?

Saddam pumping more and us pumping less is totally irrelevent.

For the price of oil, yeah it is completely relevant.

So if all the oil wells in Iraq are opened up tomorow, will the price of oil suddenly drop by that much the day after?

The day after? You could see a bit of a change, but given a little time, you'd see a large drop in prices. You're talking about a global market consuming anywhere between 80 and 100 million barrels of oil a day. Iraq is currently pumping out 1.8 or less, but can easily pump out several times that if there was stability in the country. At their peak, Iraq was pumping three million barrels a day and that was a while ago.

Can all that oil be handled and refined? That is the question.

The demand exceeds supply at this moment. Iraq's increase in oil shipments will help, but the question is, by how much?

We are cutting back our dependency on oil while India and China and many other countries demand grows and grows. Our minor cutbacks won't offset their greater demand.

We're cutting back our dependency?

Yes, as civilians become more aware of this problem, they will try to avoid spending so much at the gas pump. Sales of SUVs are dropping while sales of hybrids and other fuel efficient vehicles are up. It is not going to happen overnight, but give it a few decades and you will see a read decline in oil consumption.

As people pressure politicians and corporations to find new ways to reduce our dependency, other sources of energy will come. Higher oil prices are great in that they will force people to change their ways and develop newer technologies. Keep in mind that we will not run out of oil in the foreseeable future as we are finding more and more oil on this earth.

 

[Alistar7]

What a shame Saddam doesnt control all that oil, with the sterling oversight of the UN oil for bribes programs, I mean the oil to brutally oppress your own people money, I mean.........

 

[conjur]

Originally posted by: Alistar7
What a shame Saddam doesnt control all that oil, with the sterling oversight of the UN oil for bribes programs, I mean the oil to brutally oppress your own people money, I mean.........

You mean that program where US oil companies benefited more than anyone else involved?

 

[Strk]

Originally posted by: Alistar7
What a shame Saddam doesnt control all that oil, with the sterling oversight of the UN oil for bribes programs, I mean the oil to brutally oppress your own people money, I mean.........

The argument for these policies would actually work if they didn't only apply to countries ending in Q.