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Politics : Attack Iraq?

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To: GROUND ZERO™ who started this subject	9/9/2002 11:32:49 AM
From: Les H	Read Replies (1) of 8683

Diminishing status of non-OPEC sources of oil in the not-too-distant future make it difficult to continue the limited embargo of Iraq far into the decade. PROVEN CRUDE OIL RESERVES The location of proven world crude oil reserves is far more concentrated in OPEC countries than current world oil production. Of the world's 1.03 trillion barrels of proven reserves, 819 billion barrels (80%) are held by OPEC. Because non-OPEC countries' smaller reserves are being depleted more rapidly than OPEC reserves, their overall reserves-to-production ratio -- an indicator of how long proven reserves would last at current production rates -- is much lower (about 15 years for non-OPEC and 80 years for OPEC). This implies increased OPEC production as a proportion of world production over the long term. eia.doe.gov

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