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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (196104)	8/8/2006 1:30:49 PM
From: Keith Feral	Read Replies (1) \| Respond to of 281500

Hawk, I thought that Iraq oil production has been shut down for years. I read that Exxon shipped out the first export of 2 million barrels last month. Terrorists are doing all kinds of damage to the pipelines in Iraq, keeping them shut down for the most part. It may be true that Iraq is producing the same amount as they were before the war, which is about nothing. US oil inventories are high, but global inventories are very tight. This is great for US oil companies. Any thoughts on Conoco turning over their oil contracts to Dubai? Is this pretty much in line with the parternships between ME countries and Western oil companies to cover up our participation in these ventures? I don't really see any reason for oil prices to correct from current levels, in fact I can't see any reason why oil won't go to $100 per barrel. Biodiesel and other alternative fuel strategies will be important, but the only way that they will come to fruition is if oil prices stay high. Consequently, I see the bubble as a prerequisite for alternative fuel strategies to be commercialized. Seems to me like hydrogen fuel cells and all alternative fuel sources need a base price of at least $50 per barrel do become commercially viable.