Discussion in 'The Intelligence Cell' started by SKJOLD, Feb 3, 2005.
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Phew...thank god for the war on terror eh?
Apparently China really does have vast oil resources. (Despite reports that it has none) They just haven't extracted it in any quantity. China has more recently been buying oil exploration equipment, drilling equipment and oil rig structures from US companies.
The war in iraq (and GWB's actions) cannot be given all the blame for the rise in oil prices (altough a fair shrae im sure!)
The fact that both india and china (about 2 billion people) have begun developing their heavy industry and economy by importing and using far more oil than they have done for the last 50 yrs, has lead to a far higher demand for crude oil. Also, the fact that the oil seems to be drying up in the sand pit has had an effect on the prices (not to mention the cowboys at OPEC who love to twist the screw everytime america and the western world need more oil!)
On top of this is the uncertainty regarding the war in iraq and the problems in kuwait and saudi arabia, causing great concern over the continuity of the supply from these countries.
Of course, GWB's actions in iraq have can be traced back to be involved in a large number of these problems.
just dont blame the US for the worlds probs
Many of these factors will impinge on long term price. Hopes are that higher price will attract opening up of reserves currently uncommercial to extract or where wildlife etc. is protected from development of known fields. There will be greater exploration. However, oil is finite. How finite - varies from day to day.
The current surge is mostly due to short term pressure. Bad winter in USA has caused rise in heating grade oil. Sabotage in Iraq has disrupted supply. China - yes but not enormously. They are buying drilling and rig equipment to get at their own national reserves. Next comes refinery and distribution.
Agreed. GWB has already urined off the tree huggers by approving plans to explore some of the most remote sectors of alaska for oil reserves. Only prob is that they happen to be in national parks. Not that that will bother W
Why is THIS man 'smiling'?
And it's wrong to use your own resources because?
The tree huggers will still glady use that oil and it's by-products
he didn't become a multimillionaire through his wages as a politician that's for sure. and he's gonna become a helluvalot richer in the coming months.
thank god for freedom
Oil prices went up during the Falklands War. They went up during the Beslan siege. They go up when elections are won or lost in obscure east European states. In short, they rise whenever there is any instability anywhere, which is often.
Does this simple fact mean nasty Americans are engineering these things to get rich?
'Cause he's a Caaant!!!!
Maybe that's a rageing 'Caaant-onn' he has in his pants!
Or perhaps a Texas Sized 'Drilling Rig'...
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