OT - Gas to hit 4.00

Michael Torrie torriem at gmail.com
Wed Jun 4 19:57:36 MDT 2008


Charles Curley wrote:
> On Wed, Jun 04, 2008 at 04:27:34PM -0600, Stuart Jansen wrote:
>> On Wed, 2008-06-04 at 16:19 -0600, Charles Curley wrote:
>>> And if McCain gets elected, expect it to go up faster than if Obama
>>> gets elected.
>> Huh? How do you figure?
> 
> The current US war has taken out the former second largest producer of
> petroleum in the world.

Come again?  Iraq's oil production was incredibly low during the time
between the first gulf war and the present conflict, due to the embargos
and such.  True Saddam still enriched himself with the oil (particularly
under the so-called oil-for-food program).  To say that Iraq was the
second-largest producer of petroleum in the world *before* we invaded
Iraq is really silly.  Iraq is now at #12 [1], which is much better than
8 years ago.  No way was Iraq ever #2 though.  Kuwait is probably around
#7, which was always higher than Iraq.  Remember that the first gulf war
was essentially to secure the oil in Kuwait that Saddam's invasion
threatened to cut us off from.

People say the current war in Iraq is all about oil.  That's obviously
BS.  For one, wars in the region always increase the price of oil (not
decrease) and two, Iraq's oil production isn't affecting the supply that
much comparatively.  It might buy us a bit of oil security in the long
run, but not much.  My only conclusion is that the war in Iraq must have
been launched for other, likely misguided, reasons.

[1]
http://en.wikipedia.org/wiki/Chart_of_exports_and_production_of_oil_by_nation



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