Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: zonder who wrote (3064)	1/31/2003 9:27:02 AM
From: lorne	Read Replies (1) \| Respond to of 15987

Zonder. There is a good deal of info on Iraq oil at this site and as I read it became very clear to me that the world must never let the likes of sadam have control of this kind of power...just think of the weapons he could have at his disposal with this kind of financial clout. IMO most of the world views oil as a necessity of life, sadam views it as a powerful weapon. " In October 2001, the United Nations discovered that two oil shipments on the "Essex" had been "topped off" after U.N. inspectors had signed off, adding some 500,000 barrels of crude oil to the ship. The Essex was chartered by trader Trafigura, run by former employees of Marc Rich." Isn't this the guy that clinton pardoned? " The largest of Iraq's oilfields slated for post-sanctions development is Majnoon, with reserves of 12-20 billion barrels of 28o-35o API oil, and located 30 miles north of Basra on the Iranian border. French company TotalFinaElf reportedly has signed a deal with Iraq on development rights for Majnoon. " " An estimated 30% of Iraqi oil is sold initially to Russian firms (i.e., Emerkom, Kalymneftegas, Machinoimport, Rosnefteimpex, Sidanco, Slavneft, Soyuzneftegaz, Tatneft, and Zarubzhneft). The remaining 70% of Iraq's oil is first purchased by companies from many countries, including Cyprus, Sudan, Pakistan, China, Vietnam, Egypt, Italy, Ukraine, and others. Iraqi oil is normally then resold to a variety of oil companies and middlemen before being purchased by end users. During 2001, for instance, nearly 80% of Basra Light liftings, and over 30% of Kirkuk oil, went to the United States, with large importers including ExxonMobil, Chevron, Citgo, BP, Marathon, Coastal, Valero, Koch, and Premcor. During the first seven months of 2002, the United States imported an average of 566,000 bbl/d from Iraq. " eia.doe.gov