Sunday, April 22, 2007

Who Could Have Known!!!

[I was shanghaied by family things Friday/Saturday -- therefore the brief hiatus in posting]

Who could have known?

I am astounded, flabbergasted, rocked back on my heels!

"Iraq has perhaps twice as much oil as previously assumed. The new estimate was done by IHS, an analysis group with a specialty in energy and engineering questions.

The new estimate is the first that has been done since the American-led invasion in 2003.

The British newspaper, Financial Times, writes that, according to IHS, there are probably large new reserves under the desert sands in the western part of the country.

The larger amount of reserves means that Iraq will within the next five years be able to produce four million tons of oil, as compared to the two million barrels today.

Iraq can therefore become one of the five largest oil producers. Of course, this requires that the present conflicts cease. [My quick, unauthorized translation of a news item from the Danish Radio's web site, -- you can also read BBC's run down]

Who would have known, indeed!

I did, for one -- little expatriate me, sitting here in Denmark with my web of secret agents, informers and spies [ = progressive bloggers] was aware that Iraq probably possessed the second largest reserves (after Sandy Aridya). The reasoning was based on the fact that the reserves in Iraq had never been properly estimated, officially.

This news, of course, comes as a complete surprise to Mr. Snarly, the Codpiece and the neo-conservative crew who insisted that we invade, liberate, occupy Iraq. The reason for their criminal actions has never been clear, has always been changing as the wind blows and has never, except implicitly, included OIL.

Who would/could have known?
Please note: the new laws the [democratically elected] Iraqi Parliament is]
considering [= being forced, coerced] which give the great lion's share of profits to [slurp!] Western Oil Companies are in no way connected!


TechnoBabe said...

The source for the BBC article is also IHS and IHS works for the corporations and the oil companies; I do not think I will believe there is so MUCH oil in Iraq.

Chuck Cliff said...

I see your point -- considering the timing, one might be puzzled into thinking it was because they want to talk the price of crude down (or the price of oil stock up!).

Also, considering the state of the country at the moment, one might wonder how they were able to make a study at all.

Still, I figure there is more oil in Iraq and that the game plan has always been for West Oil to suck it up.

The figure that for sure is wrong, which I didn't mention, is two million barrels of crude a day -- no where near that amount is being pumped at the moment -- 1½ mill at a max.

Doofus said...

C. B., I haven't heard one word about this on CNN or ABC which I monitor on a dailey basis.

One would think that it would be headline news over here.

If so that explains a lot more about the reason for the stupid war than expanding "freedom" does.

Chuck Cliff said...

Doofus, follow the link to the BBC article for more detail

Why isn't it news in the US? I can't say. But we pay $1.75 a quart for gas here in Denmark, so maybe we are more sensitive...