SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Moderate Forum
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TigerPaw who wrote (14733)12/20/2004 12:40:42 AM
From: cosmicforce  Read Replies (1) of 20773
 
TP: There was oil there, but we didn't need it and there was no infrastructure of worldwide oil tankers to deliver it. First contract 1872!!! Compare that to the first American oil fields in Pennsylvania, 1877. Oil was not that important strategically for the U.S. until the 1960s because of our own production reserves in California and Texas. And we still had immense reserves of coal - America was not part of the world community and we didn't need to be because of our rich resources. Hubbert was ridiculed in 1956 for projecting Peak Oil to be occuring in the 1970's. For 15 years, with increasing technology, that was delayed, worldwide, but Hubbert was right for the U.S. Not many dispute his term Peak Oil anymore now that it is an historical fact.

gasandoil.com

The first petroleum agreement to be signed in the Middle East had been between the British Baron Julius de Reuter and the Persian Shah Nasr-ed-Din on 25 July 1872 (Shwadran, 1959). It granted de Reuter a 70-year exclusive Concession to explore for and to produce oil, gas and other mineral resources except for silver, gold and precious stones as well as to operate railways and trams throughout Persia Lord Curzon was to comment that it represented the most complete and extraordinary surrender … that it has ever been dreamt of.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News