Oil fields? Just for a lil while.....

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-- Oil fields? Just for a lil while.....

Posted by DaveSZ on Apr-12-2003 22:12:

Oil fields? Just for a lil while.....

WASHINGTON (Reuters) - The United States plans to run Iraq's oil industry until an Iraqi interim
authority can be formed to take it over, sources familiar with the evolving plan said on Friday.

It is uncertain how long the United States would operate Iraq's oil industry, the country's main source of
revenue. U.S. officials say they want to turn over Iraqi ministries to Iraqis as quickly as possible.

"The whole purpose is to transition all these ministries to the Iraqi Interim Authority as quickly as
possible. The oil ministry is one of them," said one official.

The U.N. oil-for-food program is continuing under a new U.N. resolution, using oil revenues to pay for
humanitarian assistance for the Iraqi people.

The Defense Department is considering putting in place an advisory board of former U.S. oil industry
executives to help run Iraq's oil industry, the head of which is likely to be Philip Carroll, a former chief
executive of Shell Oil Co., sources said.

Vice President Dick Cheney said on Wednesday that Iraq's oil production could rise as much as 50 percent
from 2002 levels by the end of the year if the country is given outside help in restoring its fields' capacity
to pump crude.

Last year, Iraq was producing about 2 million barrels of oil per day, down from a high of about 3 million
barrels in 1988, according to the U.S. Energy Department.

Even though the country will need outside help, Cheney said Iraqis will have to "make decisions on how
much they want to reinvest" in their oil sector.

The country controls more than 112 billion barrels of oil, second only to Saudi Arabia in proven reserves.

Sketching out a postwar scenario now that Iraqi President Saddam Hussein appears to have lost power,
Cheney, a former oil company executive, spoke of "an organization to oversee the functioning of their oil
ministry."

That body, he said, "will be composed primarily of Iraqis. It may have international advisers from
outside."

Does the United States want Iraq to remain in OPEC?

"It will be up to their government to decide. Our position is we have no position. It's up to the Iraqi
people," said one U.S. official.

Posted by LiquidX on Apr-12-2003 22:19:

cough cough *riiight* cough cough cough

What happened to the weapons of mass destruction, ooooor are they now saying that the whole purpose was to free the iraquis?!?

Posted by DaveSZ on Apr-12-2003 22:33:

The world is still waiting for them to find some WMD......
Nothing so far. As long as the Iraqis are welcoming, then the situation isn't too bad.

If the US bombs Syria and Iran next, I don't know what I will do.

Posted by Mental Exodus on Apr-12-2003 23:51:

Keeping out siders ( the US ) in charge of oil prevents a power strugle within iraq which will occur when they hand it over.

If iraq rebuilds itself of oil $ thats fine, however peak oil production for the area is expected to be reached in about 2010. After that there will be less and less of it. This will be a massive problem for the already over populated area as there is little else to make mony with.

Posted by brainfried on Apr-13-2003 14:02:

quote:
Originally posted by DaveSaenz
The world is still waiting for them to find some WMD......
Nothing so far. As long as the Iraqis are welcoming, then the situation isn't too bad.

If the US bombs Syria and Iran next, I don't know what I will do.

You wont have to worry about that for a while.... They have to get north korea first.... but they dont have any oil only NUCLEAR WEAOPONS so there not too important... and dont forget france, Bush wants their cheese supply

Posted by ali92 on Apr-14-2003 01:04:

quote:
Originally posted by brainfried
You wont have to worry about that for a while.... They have to get north korea first.... but they dont have any oil only NUCLEAR WEAOPONS so there not too important... and dont forget france, Bush wants their cheese supply

OK, what's more dangerous: Oil or Nuclear Weapons/WMD? The answer is very obvious: Nuclear Weapons/WMD! Don't you just hate it when serious issues like this aren't dealt with because the president won't get enough MONEY from it? So, he just wants to deal with Iraq first just because they have oil (which equals MONEY). Meanwhile, North Korea may be planning to do a strike somewhere and BUSH doesn't care!

Posted by DR86 on Apr-14-2003 02:23:

Does anyone else see Halliburton written all over this?