ROCKMAN wrote:P - It looks that way. Of course, for some of us, it was never gone. But it may get shoved back into the basement soon like Ross Perot's crazy aunt is we see a slide in prices when Iran, Libya, Iraq, et al started adding to supplies. But eventually we'll sneak out of the basement carrying our "We Told You So" signs held high. LOL.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Tanada wrote:ROCKMAN wrote:P - It looks that way. Of course, for some of us, it was never gone. But it may get shoved back into the basement soon like Ross Perot's crazy aunt is we see a slide in prices when Iran, Libya, Iraq, et al started adding to supplies. But eventually we'll sneak out of the basement carrying our "We Told You So" signs held high. LOL.
I think Iraq is a big question mark for the next decade because of sectarian violence there. As for Iran I am confident China has been working hard to tie up their future exports, based on things Rockman has posted and just looking at who was trading with them during the so called embargo. Libya? Sectarian violence and extreme instability...need I type more?
Lore wrote:Tanada wrote:ROCKMAN wrote:P - It looks that way. Of course, for some of us, it was never gone. But it may get shoved back into the basement soon like Ross Perot's crazy aunt is we see a slide in prices when Iran, Libya, Iraq, et al started adding to supplies. But eventually we'll sneak out of the basement carrying our "We Told You So" signs held high. LOL.
I think Iraq is a big question mark for the next decade because of sectarian violence there. As for Iran I am confident China has been working hard to tie up their future exports, based on things Rockman has posted and just looking at who was trading with them during the so called embargo. Libya? Sectarian violence and extreme instability...need I type more?
What about Africa?
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Why not an analogy with what happened decades ago when the ME had new fossil fuel riches? The imperial powers made "strategic alliances" with the Sultans and Settlers, whose descendants we know and love today.ROCKMAN wrote:dDifficult to imagine control over those riches won't make life much worse for millions then it already is. By analogy I see the African situation with their new fossil fuel riches similar to those countries where illegal drugs have become a major portion of their GNP. A lot of pain and sorrow has come along with that money.
They'll need it since they're doing such a good job of pumping every drop of their own.KaiserJeep wrote:I'm confident that when the oil gets pumped, the US gets most of it.
steve from virginia wrote:Since the flop in Iraq,
That is just a fantasy. Other than, the major ME oil exporters cannot afford to lose the income streams of blocking their oil so its in the US interest to promote stability in those countries.US military strategy has been to export instability so as to import consumption.
AirlinePilot wrote:Go back 10 years, or even 5 and look at the predictions for Iraqi production. Look at what Libya, Nigeria and any other shithole country SHOULD be producing according to their reserve claims and the predictions from folks at the EIA, IEA et al.
Its not a pretty picture. My personal opinion is that hoping miraculous things happen in the ME is a pipe dream. Sectarian violence and the inability of local governments to rise above tribalism and corruption spells nothing short of disaster for long term oil production from quite a few of these Oil rich nations.
Remember also that the USA can no longer remain the global policeman. With its slow withdrawal from a lot of these areas forced by budgetary constraints at home how does anyone believe that anything approaching stability can exist given hundreds if not thousands of years of tribal and religious angst in these oil rich nations?
I suspect that a lot of oil in those countries will just never reach the markets. As we move down the road of decreasing GNE that paradigm gets worse IMHO. The reality is the infrastructure and capital required will never make it there because the risks will be too great from both a financial and humanitarian standpoint.
I believe we are moving towards the Energy Trap a lot of folks have talked about in the not too distant past, when PO was a bit more on the front page than it is now. You run out of time requiring a robust and thriving economy to ALLOW the exploitation of the reserves. I have always believed that is where we are headed......still a bit down the road, but it seems to me to be shaping up nicely as we begin to realize the GNE problems and the lack of economic growth which partly has as its cause the high cost of oil.
Interesting times to be sure.
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