1¡¢ use it to rebuild Iraq's economy. 2¡¢ use it to alleviate its domestic oil reliance on other country. 3¡¢ reclaim to new Iraq administration.
Colin Powell has already stated that the money will go to the Iraqi people. Not sure what the Chinese media propaganda machine is spewing out. And the price of oil will go down after the war, not up.
bigtexx is correct. With more oil on the market, the price of oil will go down. Ihave faith in our government that they will get the Iraqi petroleum infrastructure repaired and make sure that the Iraqi people profit from the now unfettered oil sales to the rest of the world. It will be all good for them.
Did you read the same Chronicle I read today? It siad just the opposite. I think we should go back on our word and make Iraq the 51st state.
We don't need to do all that and mess up the flag with an out of place star, just give it Puerto Rico status. Man, some day, we could have an Iraqi J-lo. "I used to have a little but now I have a lot, I'm still Juhanah from the mosque!"
Iraq won't be able to produce large amounts for quite some time and I heard OPEC will be meeting soon to cut production because oil has gone down so much. For those who say this war has nothing to do with oil though, the price of oil will go down a lot when sanctions are lifted and Iraq opens the floodgates. A nice side benefit from the war huh?
thats basically what I was sayin, I realize that it will take some time to rebuild their petroleum infrastructure. but when it gets done, there will be more oil for sale. The bit about OPEC doesn't make sense...oil prices are still very high...between 28-30 dollars a barrel last I heard. I figger sanctions will be lifted the day after SH is officially out of power. but the pipelines and processing facilities stilll need to be upgraded and repaired for the production to flow... I dont honestly think the war was for oil...the oil is for the Iraqi people...American oil companies will have no more part in it than they already do in other oil-producing nations around the world.
I think it's a misconception that when people say war for oil that it means the US will just take it all. To me it means cheaper oil, access for US companies, and more stable oil supplies.
So Americas gets a boost in the economy from cheaper oil and Iraq gets to live free without a tyrant killing their people AND they get all the profits from the oil, thus making them a hugely rich nation and able to build up their country to rival the other rich arab countries with educated populations. That is a pretty good side benefit...you've strengthened my resolve that this war was good for Iraq AND America. Thanks! BTW I read an article that if Iraq produced at full production oil would be driven to $21-$24 a barrel which would be equivelant to a $400 billion tax cut to consumers and business in the U.S. as well as a $2 trillion savings for the world economy which could very well pull a good chunk of Asia and Europe back out of recession.
China wang you are, as I am told by my Chinese roommate, in mandarin, a lampool wongping. Thats right, you got it mr. international relations, you suck **************. My bad, that was flame. Sorry newbie.
Is Iraq still considered part of OPEC or not? If so, in theory, they are required to produce a certain amount of oil if I'm not mistaken.
It's already gone down. I guess it would be too much for you to do 5 minutes of research before posting, but the price of oil was at $36 just before the war started, and when it appeared clear that the US would steamroll Iraq (which took all of three days), the price dramatically dropped to $28. That's a big drop my friend. Before the first Gulf War, the price was $40/barrel. The price again dropped precipitously after the war was decided and settled just above $20.
That actually is going to be interesting to see how the rest of the OPEC members react to our temporary control of Iraq, because obviouly, Iraq's membership has been canceled.
