[Vision2020] Federal Reserve Head Greenspan: Iraq Invasion ForOil

[Glenn Schwaller]

Sunil - I could probably buy the negative oil flow theory if it we not for
the fact that Iraqi oil has, for the past dozen years, contributed less than
10% of the total OPEC output.  Long before the US invasion, Iraq had been
struggling without success to increase production above 2 million barrels
per day, largely due to technical problems in pipelines, and other
petroleum-based infrastructure, problems in accessing Iraqi oil fields, and
the continued refusal of the United Nations to provide Iraq with equipment
it has requested.  So despite the "threat" of increased production Iraqi
officials continue to proclaim, the ability is just not there.

It's also hard to buy into this theory considering the US blessings on Saudi
Arabia's projected increase of over 3 million barrels per day by 2010.
This, coupled with the fact that a majority of this "new" oil will be making
its way to the rapidly growing Asian markets, and that OPEC itself
recognizes that decreased production is a bad thing from a global economic
perspective, suggests to me that the Iraqi conflict is not about oil in any
flavor.

GS

On 9/17/07, Sunil Ramalingam <sunilramalingam at hotmail.com> wrote:
>
> I disagree Glenn.  I think that many advocates for the war did think it
> would benefit Israel (though there are many Israelis who disagree with
> their
> position) but I don't think this was the main reason for the war, though
> some in the administration may have viewed it as a side benefit.
>
> I used to think the war was launched in order to control Iraq's oil
> reserves
> to boost production, but now I'm more persuaded by Greg Palast's argument
> that the reason was to control Iraq's reserves to prevent Hussein from
> producing more and destabilizing the market.  For me this comes closer to
> answering the question 'Why did Cheney change his mind about invading
> Iraq?'
> than the other theories.
>
> Ted's comments about the press failures prior to launching the war against
> Iraq are equally true when it comes to uncritical coverage of the current
> statements about Iran.
>
> Sunil
>
>
> >From: "Glenn Schwaller" <vpschwaller at gmail.com>
> >To: vision2020 at moscow.com
> >Subject: Re: [Vision2020] Federal Reserve Head Greenspan: Iraq Invasion
> >ForOil
> >Date: Mon, 17 Sep 2007 15:55:13 -0700
> >
> >The US net petroleum imports for 2002, 2003, 2004, 2005, and 2006
> amounted
> >to 4208, 4476, 4811, 5055, and 4968 million barrels per year, and 2454
> >million barrels from January through June of 2007.  Over the same period
> of
> >time the Iraqi contributions were 168, 176, 240, 194, and 202 million
> >barrels per year, and 86 million barrels from January through June of
> 2007.
> >(
> >
> http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm
> >).  This constitutes 4%, 3.9%, 5%, 3.9 % 4.1% and 3.5% of our total oil
> >imports.  A case for going to war if I've ever seen one.
> >
> >The current cost of the war is around $455 billion give or take, and if
> we
> >were to defray this cost by levying an excise tax on Iraqi oil imports
> from
> >2003 to the present, it would amount to around $507 a barrel.  Assuming
> oil
> >imports remain steady over a 10 year period this would be about $51 a
> >barrel, and over 25 years, a little more than $20 a barrel.  How can
> anyone
> >possibly justify paying an excise tax of $20 per barrel for 25 years
> simply
> >to ensure a cheap supply of oil from Iraq?  Ludicrous!  War for oil –
> total
> >nonsense.  War for Israel – the real fulcrum of the Iraqi conflict.
> >
> >"The United States is strongly committed, and I am strongly committed, to
> >the security of Israel as a vibrant Jewish state. . . By defending the
> >freedom and prosperity and security of Israel, (we are) also serving the
> >cause of America."  (President Bush:  address to the American Israel
> Public
> >Affairs Committee, Washington DC, May 18, 2004).
> >
> >We have paid a high price in dollars, international prestige and in the
> >lives of our soldiers for the interests of a foreign state, and we will
> >continue to do so until the Jewish-Zionist hold on US political life is
> >finally broken.
> >
> >  GS
> >
> >
> >On 9/17/07, Ted Moffett <starbliss at gmail.com> wrote:
> > >
> > >
>
>
>
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