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 : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (254943)	6/18/2008 11:46:51 PM
From: greenspirit	Read Replies (2) \| Respond to of 793822

If Iraq can produce 6 million barrels of oil a day in a few years, the potential for them to build a healthy economy is enormous. Those numbers indicate they are sitting on the equivalent of 6 ANWR's, where the cost of extracting a barrel is probably similar to Saudi Arabian fields at $2.00 a barrel.

To: KLP who wrote (254943)	6/19/2008 10:41:14 AM
From: Brumar89	Respond to of 793822

The no-bid contracts are unusual for the industry, and the offers prevailed over others by more than 40 companies, including companies in Russia, China and India. The contracts, which would run for one to two years and are relatively small by industry standards, would nonetheless give the companies an advantage in bidding on future contracts in a country that many experts consider to be the best hope for a large-scale increase in oil production. Those are short term technical services agreements. And frankly the companies cited, "Exxon Mobil, Shell, Total and BP", are technically more advanced than Russian, Chinese, and Indian companies. If they're looking for the most uptodate technology, you go with the most technologically advanced, not necessarily the cheapest bidder.