From: Mike Lorrey (mlorrey@yahoo.com)
Date: Sun May 11 2003 - 20:58:00 MDT
--- "Robert J. Bradbury" <bradbury@aeiveos.com> wrote:
>
> On Sun, 11 May 2003, John K Clark wrote:
>
> > Interesting quote:
> > "Iraq is the only country capable of flooding the world with cheap
> > oil on the scale of Saudi Arabia. [...] The average cost of
> > bringing a barrel of oil out of the ground in the USA is about
> > $10. In Saudi Arabia, it's about $2.50. And in Iraq, it's less
> > than $1."
>
> Yes John -- but it isn't *sustainable*. It would be fine if the
> economic boost were used to redirect world energy production and
> consumption into sustainable sources (photovoltaic, wind, methane
> from atmospheric carbon sources using photosynthetic energy, etc.)
> -- but given the current mindsets that seems unlikely to be a
> primary goal.
What do you mean it isn't "sustainable"? So far as I know, Iraq can
pump 900,000 - 3.5 million barrels or more a day at that cost level for
many years into the future. Iraq has some of the cheapest to access oil
fields in the world, coupled with a domestic oil industry that is
staffed, top to bottom, by Iraqis rather than expensive Western workers
as Saudi, Kuwait and other oil satrapies depend on. The infrastructure
is also generally debt free, since it was all nationalized in the
1970's.
Given that the other OPEC nations are overproducing at a rate of 2
million barrels a day, AND that Venezuela is finally getting its own
production up to near pre-strike levels of 3 million barrels a day,
from less than 1 million during the strike, AND Russia's informal
production cap agreements with OPEC are due to expire, OPEC can cut
its production by 2 million barrels a day and the market production
will still be 2-4 milllion barrels a day over demand.
OPEC as a tool of advancing muslim international agendas is over unless
the US really screws things up in Iraq, and Venezuela and Russia decide
to get more involved in OPEC. Even then, we will still have ANWR
available to drill, which contrary to critics claims, has plenty of oil
in it. Enough to seriously dent world oil prices for a decent period of
time if we need to.
I'm not concerned about oil prices for the next several years at least.
They will continue to drop, US economic power will continue to grow as
a result, european economies will stagnate and be forced to abandon
socialism, even paid for with oil money, once and for all.
=====
Mike Lorrey
"Live Free or Die, Death is not the Worst of Evils."
- Gen. John Stark
Blog: Sado-Mikeyism: http://mikeysoft.blogspot.com/
Flight sims: http://www.x-plane.org/greendragon
Pro-tech freedom discussion:
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