Iraqi Oil production did not return to Jan 2003 levels for close to 4 years, and was near zero for a lot of 2004. Iraq at its peak only produced 2.5 million barrels a day. The US produces 5.8 million/day, with 1 million/day just from Texas. Saudi Arabia produces 4 times what Iraq Produced at its peak. Iran, who we are saber rattling with produces twice what Iraq produces, one would think if we did not want '9 dollar gas' we would be more careful of our stance towards Iran? Iran can also effectively shut down the straits of hormuz, which would give 'oil shock' a whole new meaning. Like $200-$300/barrel crude.
Even at its peak, Iraq was only the fifteenth largest producer in the world. And most Iraqi oil is not shipped to the US. The price of oil right now has more to do with the uncertainty about the dollar driving the price of all commodities up as people bail from the dollar, and that has fueled speculation. Quite a number of experts have suggested that the actual Supply-and-demand price for Oil right now should be at about 80/barrel.
canada is out top supplier (at about 'aboot' 3 million BPD), which makes up about 1/4 or 1/5th of our entire import. After that, we get a lot of our oil from south america. You seem to think that our pumping contracts with Iraq means the oil is magically teleported to the USA, thats astronomically incorrect. That Oil is probably consumed in Europe or Asia. Our largest suppliers are Canada, Mexico, Nigeria and Venezuela, with Saudi Arabia making up only 1.6 million BPD of our needs, and I doubt even a drop from Iraq
The total global oil production is close to 83 million BPD, so Iraqs entire production is like 3 percent of the world total? If Iraq shut down tomorrow (like it did when the war started) Oil would probably go up $5-10 dollars per barrel, mainly out of uncertainty, the n taper back down again as other countries upped production a percent or two.
And the cost of oil is just one of the factors that impact the cost of gas. In the past decade, refinery capacity and manipulation of refinery capacity has had more of an impact on the price of gas than the cost of oil.
Basically, you don't know shit. You don't know what you are talking about. You live in a fantasy world and your numbers have no reality to them. You are right to evoke the metaphor of washing hands. I wash my hands of you and your lunatic ramblings. I won't waste my time arguing with someone who not only doesn't know his facts, but lives in a fantasy world.
Last word is yours.
Off Topic » in reply to Let me get this straight...
No, let me straighten you out.
The whole thread (67 posts)
- "Perils Of Victory" (February 3, 2003 Newsweek)
- Prescience
- Yes, well....
- Heh.
- Attention Robet S.
- No kidding
- Can I at least get some idea of how we're scoring this?
- The scoring system is very simple
- Okay, you win.
- That was just plain stupid
- And here...
- Tell you what, how about you just beat this mark?
- What, Tom- cat got your tongue?
- Dude, you had to go back five years.
- Tom used the word "dude"?
- Actually...
- I do it too, for comedy's sake. (n/t)
- I know, right? (n/t)
- Far out, man. (n/t)
- I know, right? (n/t)
- I do it too, for comedy's sake. (n/t)
- totally! (n/t)
- Actually...
- Insane
- Track record
- The value of the US in Iraq made really, really simple.
- Tom used the word "dude"?
- Dude, you had to go back five years.
- What, Tom- cat got your tongue?
- Tell you what, how about you just beat this mark?
- Okay, you win.
- re: Oh! Easy one- number of wars started for causes that were fictions
- The scoring system is very simple
- re: No kidding
- Actually
- Hey Arrell
- Can I at least get some idea of how we're scoring this?
- No kidding
- What???!!! There is no way even YOU can revise history that way.
- Attention Robet S.
- Heh.
- Yes, well....
- Prescience
