April 19, 2007

AND THEY STILL OUGHTN'T PAY A CENT OF ODIOUS DEBT:

Iraq may hold twice as much oil (Ed Crooks, April 18 2007, Financial Times)

Iraq could hold almost twice as much oil in its reserves as had been thought, according to the most comprehensive independent study of its resources since the US-led invasion in 2003.

The potential presence of a further 100bn barrels in the western desert highlights the opportunity for Iraq to be one of the world’s biggest oil suppliers, and its attractions for international oil companies – if the conflict in the country can be resolved.

If confirmed, it would raise Iraq from the world’s third largest source of oil reserves with 116bn barrels to second place, behind Saudi Arabia and overtaking Iran.

Posted by Orrin Judd at April 19, 2007 12:04 AM
Comments

It's all about the OOOOILLLL... that we didn't know abooooouuuuut...

Posted by: Just John at April 19, 2007 1:25 AM

Now why in the world would he have invaded Iraq just so that we can set up a semi-friendly counter-weight to the Saudis and the Iranians, one that just happens to be sitting on top of a lot of oil...

Nevermind.

Posted by: Mikey [TypeKey Profile Page] at April 19, 2007 7:29 AM

Now why in the world would he have invaded Iraq just so that we can set up a semi-friendly counter-weight to the Saudis and the Iranians, one that just happens to be sitting on top of a lot of oil...

Nevermind.

Posted by: Mikey [TypeKey Profile Page] at April 19, 2007 7:34 AM

Semi-friendly whose people are going to get a share of the proceeds by law.

Talk about turbans twirling in that region....

In Chicago-speak, "Where's mine?"

Posted by: Sandy P at April 19, 2007 9:23 AM

Oil is so 20th century.

Posted by: erp at April 19, 2007 11:16 AM

if the conflict in the country can be resolved.

That is why the conflict will not be resolved. Neither the Iranians, nor the Saudis would let it resolved. The Iranians want the oil for themselves. The Saudis want less oil to flood the market. Poor Iraqis are destined to die for their oil.

Posted by: ic at April 19, 2007 1:59 PM

The Sa'uds and Persians don't matter, anymore than we do. The Iraqis will sort it out.

Posted by: oj at April 19, 2007 4:17 PM
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