From: Lee Corbin (lcorbin@tsoft.com)
Date: Fri Jan 31 2003 - 20:17:07 MST
Charles writes
> Lee Corbin wrote:
>
> >(3) breaking monopolistic control of oil
> >
> This isn't being attempted. Be honest.
Charles, I have initiated an entire thread "oil economics"
in an attempt to overcome my ignorance of how all this works.
It's certainly not my honesty that is a problem here, if
there is a problem here.
> The US govt. is attempting to place monopolistic control of
> oil under its control. Some say that it's the oil companies,
> and that the govt. is merely a front. Plausible. But whoever
> is doing this, they aren't planning to make the rewards
> available to all.
How do you know all this? It's true that I'm discussing in
the aforementioned thread the existence of "windfall profits",
and it does stand to reason that profits from Iraq's oil
could start going to the people of Iraq when Saddam falls.
But you seem to imply that such profits would go to the U.S.
or somewhere? I thought that I read somewhere that the Western
allies have announced plans where the profits will go while
they're occupying the country. Sorry if I've missed your
main point---I'll attend to it now:
True, Iraq does have the largest known reserves. But you
have pointed out to me that *perhaps* I was wrong to speak
of "monopolistic control". Does Iraq presently have anything
like that? Economics: the more oil that is produced, the
lower its price, and right now some countries like Saudi
Arabia are artificially restricting production. (And, I
gather, with the sanctions in place, Iraq is selling relatively
little oil.)
Why do you suppose that it would be "the U.S." instead of
"the U.S. and its allies" that would be in control? Moreover,
all that I know that they can do with the oil is sell it.
Are you supposing that they could also use such control as
a weapon? Wouldn't the use of such a weapon simply make
stronger those that it would be used against, e.g. Russia
or Saudi Arabia?
Lee
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