Seems to me a lot of Americans are only against the war because its not going well
Comments
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jlew24asu wrote:Iraq does have control of their oil. american companies are helping pump the stuff out of the ground but Iraq oil itself is controlled by OPEC. dont tell me its not, I do this for a living. I work for a trading firm that trades oil. sorry to disappoint you
who will profit from that oil in iraq?0 -
The beauty of the whole plan is that they don't need the oil in Iraq in order to make huge profits! In fact, right now Iraq's oil does the oil companies far more good sitting in the ground. Iraq is pumping less oil than under Saddam, less than half of it's OPEC quota. We all know what reduced supply does to the price of oil, and if we don't know, we need only look at oil company profits the past few years to figure it out.polaris wrote:who will profit from that oil in iraq?"Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." ~ MLK, 19630 -
hippiemom wrote:The beauty of the whole plan is that they don't need the oil in Iraq in order to make huge profits! In fact, right now Iraq's oil does the oil companies far more good sitting in the ground. Iraq is pumping less oil than under Saddam, less than half of it's OPEC quota. We all know what reduced supply does to the price of oil, and if we don't know, we need only look at oil company profits the past few years to figure it out.
absolutely, but it also seems off to think that the oil companies will not profit from the oil in iraq ... and we all know that profits from that oil will not go towards building schools and hospitals in iraq ...0 -
hippiemom wrote:The beauty of the whole plan is that they don't need the oil in Iraq in order to make huge profits! In fact, right now Iraq's oil does the oil companies far more good sitting in the ground. Iraq is pumping less oil than under Saddam, less than half of it's OPEC quota. We all know what reduced supply does to the price of oil, and if we don't know, we need only look at oil company profits the past few years to figure it out.
again with made up figures.
http://news.bbc.co.uk/2/hi/business/5117170.stm0 -
Your article says "Production has risen to 2.5 million barrels per day," and "Before the war, output was around 3 million bpd, peaking at a record of 3.5 million bpd." So how is my statement that they are still pumping less than under Saddam "made up"?jlew24asu wrote:"Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." ~ MLK, 19630 -
Iraq doesnt have an OPEC quotahippiemom wrote:Your article says "Production has risen to 2.5 million barrels per day," and "Before the war, output was around 3 million bpd, peaking at a record of 3.5 million bpd." So how is my statement that they are still pumping less than under Saddam "made up"?0 -
jlew24asu wrote:they dont
http://www.cbc.ca/world/story/2007/01/08/iraq-oil.html
from the report:
Under PSAs, a country retains legal ownership of its oil but gives a share of profits to the international companies that invest in infrastructure and operation of the wells, pipelines and refineries, the newspaper said.0 -
polaris wrote:http://www.cbc.ca/world/story/2007/01/08/iraq-oil.html
from the report:
Under PSAs, a country retains legal ownership of its oil but gives a share of profits to the international companies that invest in infrastructure and operation of the wells, pipelines and refineries, the newspaper said.
dude why dont you bold the first statement
gives a share of the profits, not all. this is standard in any country that pumps oil.0 -
jlew24asu wrote:Iraq
Do you think that the people living in the Niger delta profit from Shell oil? No. All it does is pollute their land. The Iraqis won't benefit from oil which is owned by U.S companies - unless of course by 'benefit' we mean that they'll be given the opportunity to earn $1 a day like those benefiting from corporate America down in Mexico.0 -
jlew24asu wrote:dude why dont you bold the first statement
gives a share of the profits, not all. this is standard in any country that pumps oil.
i wrote that these companies have rights to that oil ... you said they don't ... how am i wrong?? ...
at any rate - we know that those profits will go to these companies who are not going to invest in the social infrastructure or the betterment of iraqis ...0 -
polaris wrote:at any rate - we know that those profits will go to these companies who are not going to invest in the social infrastructure or the betterment of iraqis ...
Except by employing people, investing in infrastructure like transportation, paying taxes, etc, etc, etc. But whatever :rolleyes:
Look, this entire discussion would be moot if you were pumping Iraq's oil. Then you could do whatever you like with it. But you're not.
Perhaps you'd like Iraq's oil resources run by a 100% state-owned company wherein the profits from the oil go entirely to the state. That would be great. God knows that Saudi Arabia and Venezuela are such paradises.0 -
farfromglorified wrote:Except by employing people, investing in infrastructure like transportation, paying taxes, etc, etc, etc. But whatever :rolleyes:
Look, this entire discussion would be moot if you were pumping Iraq's oil. Then you could do whatever you like with it. But you're not.
Perhaps you'd like Iraq's oil resources run by a 100% state-owned company wherein the profits from the oil go entirely to the state. That would be great. God knows that Saudi Arabia and Venezuela are such paradises.
also in the report i posted ...
Critics say the agreements will be bad news for Iraq because they guarantee profits to the companies while giving little to the country. With 112 billion barrels, Iraq has the second largest reserves in the world, the U.S. government says.
Platform, a London-based pressure group that seeks to minimize the impact of oil companies, says on its website that Iraq endorsed production-sharing agreements last fall, just as Russia sought to undo a similar deal it signed in the period of turmoil after the Communist regime collapsed.
Citing published Russian reports, Platform said Russia has realized it signed a bad deal to develop a gas project, which allocated the risk to the government and the profit to the private sector.
"Russia realized the mistakes it made by signing PSA contracts only when it was too late. It remains to be seen whether Iraq follows the same course," the group said in October.
***************
there is a multitude of issues at play here ... 1. motive for this war 2. isn't this supposed to be about helping iraq? 3. how is iraq gonna pay for the infrastructure damage it has suffered
you can roll your eyes all you want ... it still doesn't take away from the truth0 -
polaris wrote:also in the report i posted ...
Critics say the agreements will be bad news for Iraq because they guarantee profits to the companies while giving little to the country. With 112 billion barrels, Iraq has the second largest reserves in the world, the U.S. government says.
Platform, a London-based pressure group that seeks to minimize the impact of oil companies, says on its website that Iraq endorsed production-sharing agreements last fall, just as Russia sought to undo a similar deal it signed in the period of turmoil after the Communist regime collapsed.
Citing published Russian reports, Platform said Russia has realized it signed a bad deal to develop a gas project, which allocated the risk to the government and the profit to the private sector.
"Russia realized the mistakes it made by signing PSA contracts only when it was too late. It remains to be seen whether Iraq follows the same course," the group said in October.
***************
there is a multitude of issues at play here ... 1. motive for this war 2. isn't this supposed to be about helping iraq? 3. how is iraq gonna pay for the infrastructure damage it has suffered
you can roll your eyes all you want ... it still doesn't take away from the truth
Look, your article is ridiculous. It talks about Russian PSAs without making any mention that foreign companies were barred from participating in those PSAs. Their PSAs became bad deals because of 1) corruption resulting from government management of who was allowed to bid and 2) massive profits going to those companies that Russian government became jealous of and wanted to reclaim.
PSAs are despised by the oil industry because they have to share profits with governments without those governments providing any tangible value to the process. Furthermore, PSAs often pave the way for renationalization since the oil companies don't in fact get ownership of the reserves.
Furthermore, why should profit not be given to the companies that actually do the work? Again, feel free to pump that oil yourself and do whatever you'd like with it.
Your "multiple issues" are not precluded by PSAs. Iraq will make millions upon millions of dollars from the oil pumped within their borders.0 -
farfromglorified wrote:Look, your article is ridiculous. It talks about Russian PSAs without making any mention that foreign companies were barred from participating in those PSAs. Their PSAs became bad deals because of 1) corruption resulting from government management of who was allowed to bid and 2) massive profits going to those companies that Russian government became jealous of and wanted to reclaim.
PSAs are despised by the oil industry because they have to share profits with governments without those governments providing any tangible value to the process. Furthermore, PSAs often pave the way for renationalization since the oil companies don't in fact get ownership of the reserves.
Furthermore, why should profit not be given to the companies that actually do the work? Again, feel free to pump that oil yourself and do whatever you'd like with it.
Your "multiple issues" are not precluded by PSAs. Iraq will make millions upon millions of dollars from the oil pumped within their borders.
are YOU pumping the oil?? ... what makes my opinion on this any different than yours?? ... making a comment like that adds nothing to the discussion whatsoever ...
why should any company have ownership of a resource such as oil? ... its like owning water ... they should be maintaned by the country ...
iraq only became a developed nation when it decided to nationalize its oil ... up until then - a very small percentage benefited while the people got very little ... this will be the case again - due to this law ...0
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