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 Rono
DSYSB since '01
 
Registered: 01/25/01
Posts: 16,259
Loc: Calgary, Alberta
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 U.S. asks UN for control of Iraq's oil money 
#1535215 - 05/09/03 04:06 PM (20 years, 11 months ago) |
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Source
I found the last paragraph particularily interesting...
UNITED NATIONS - The United Nations Security Council began studying a U.S. proposal Friday to lift economic sanctions against Iraq and give "occupying powers" temporary control over oil revenues.
INDEPTH: Iraq
The eight-page draft resolution was tabled by Washington's UN Ambassador John Negroponte during a closed-door meeting.
"I would say most delegations saw this as charting a way forward," Negroponte told reporters afterwards.
"It's a good start," said Angola's UN Ambassador Ismael Gaspar Martins. "Our initial reaction is very positive," agreed Chile's UN Ambassador Gabriel Valdes.
Not all countries have endorsed the plan, but it doesn't appear any are threatening a veto. France, Russia and others, for instance, are uneasy about limiting the UN's role in Iraq. They're also concerned about the way a new government will be chosen in Baghdad.
The resolution did not address whether UN arms inspections will resume, which has also prompted some countries to ask for a clearer picture of Washington's long-term proposal.
"Certainly they had some questions," Negroponte said.
The U.S. and Britain are proposing to run Iraq for at least a year, and to spend money from the country's oil exports to finance reconstruction. Right now, the UN controls the money.
Washington argues that since it led the military strike that ousted Saddam Hussein, it should make key decisions about Iraq's future ? with the United Nations playing a smaller, advisory role.
The Security Council is expected to begin formally debating the resolution on Wednesday. It must decide what to do before June 3, when the existing oil-for-food program expires.
In the resolution, the U.S. refers to itself and Britain as "occupying powers" for the first time. Until now, it has described coalition troops as "liberating forces."
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"Life has never been weird enough for my liking"
Edited by Rono (05/09/03 04:08 PM)
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Strumpling
Neuronaut
Registered: 10/11/02
Posts: 7,571
Loc: Hyperspace
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Re: U.S. asks UN for control of Iraq's oil money [Re: Rono]
#1535339 - 05/09/03 05:06 PM (20 years, 11 months ago) |
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"U.S. asks UN for control of Iraq's oil money"
"asks?"
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Insert an "I think" mentally in front of eveything I say that seems sketchy, because I certainly don't KNOW much. Also; feel free to yell at me.
In addition: SHPONGLE
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 Prisoner#1
Even Dumber ThanAdvertized!
Registered: 01/22/03
Posts: 193,665
Loc: Pvt. Pubfag NutSuck
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Re: U.S. asks UN for control of Iraq's oil money [Re: Strumpling]
#1535448 - 05/09/03 05:49 PM (20 years, 11 months ago) |
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but its not about the oil.....thats right...it's the money, what ever happened to the expression "to the victor, the spoils" we won, we own them now, the money is already ours....now where is my cut....
P#1
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CoreHard
loser
Registered: 05/09/03
Posts: 22
Loc: Cave
Last seen: 20 years, 5 months
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Re: U.S. asks UN for control of Iraq's oil money [Re: Strumpling]
#1535453 - 05/09/03 05:51 PM (20 years, 11 months ago) |
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Saddam sealed his fate in 2000 when he decided to convert to the Euro as opposed to the US Dollar for Oil Transactions. We just couldn't let that happen now could we? Anyone interested in looking up past military "liberations" of other countries shouldn't be surprised to learn Oil Big Wigs always profit greatly from them. Go USA.
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Anonymous
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 Re: U.S. asks UN for control of Iraq's oil money [Re: Rono]
#1535456 - 05/09/03 05:52 PM (20 years, 11 months ago) |
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Cool 
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Anonymous
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Re: U.S. asks UN for control of Iraq's oil money [Re: Rono]
#1535479 - 05/09/03 06:03 PM (20 years, 11 months ago) |
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Surprise, surprise.
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mntlfngrs
The Art of Casterbation
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Re: U.S. asks UN for control of Iraq's oil money [Re: Prisoner#1]
#1535508 - 05/09/03 06:13 PM (20 years, 11 months ago) |
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Oil profits/revenue is just a beneficial side effect. The stability of America and the American lifestyle depends on cheap oil. Scientist M. King Hubbert and others predicted this war (not specifically) in 1975.
Thom Hartmann (thomhartmann) Wed 12 Mar 2003 (02:46 PM)
"The halfway point of an oil field is referred to as "The Hubbert Peak," after scientist M. King Hubbert, who first pointed this out in 1956 and projected 1970 as the year for the Hubbert Peak of US oil supplies. Hubbert was off by four years - 1974 saw the initial decline in US oil production and the consequent rise in price. In 1975, Hubbert, who is now deceased, projected 2000 for a worldwide Hubbert
Peak. Once that point had been hit, he and other experts suggested, the
world could expect economy-destabilizing spikes in the price of oil,
and wars to begin over control of this vital resource."
There are and where not any surprises here.
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Be all and you'll be to end all
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carbonhoots
old hand
Registered: 09/11/01
Posts: 1,351
Loc: BC Canada
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Re: U.S. asks UN for control of Iraq's oil money [Re: mntlfngrs]
#1535690 - 05/09/03 07:40 PM (20 years, 11 months ago) |
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some people are gonna be suprised
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-I'd rather have a frontal lobotomy than a bottle in front of me
CANADIAN CENTER FOR POLICY ALTERNATIVES
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JohnnyRespect
Nomadic Wanderer
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Loc: East Coast
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Re: U.S. asks UN for control of Iraq's oil money [Re: carbonhoots]
#1535826 - 05/09/03 09:11 PM (20 years, 11 months ago) |
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Wow, a story about us asking for the lifting of the UNITED NATIONS sanctions that people bitched about so much in other posts, and all we see is the oil revenue part. Ok, let me post this again, I know I_F_B will try to blur it with econ talk, but I think it's EXTREMELY relavant here
Lets say that gee dub and Co are in this for the singular purpose of oil. It is our one and only goal to take, and sell on the open market, every single drop of oil that Iraq produces. We would do this by enslaving the Iraqi people and makign them work as sweat-shop labor-quality oil technicians. we would discover a magical way to have NO overhead, so it was pure profit from Iraqi oil. Lets see how long it would take us, in this setup that could never exist, with 100% profit, no loss. I'm also going to give the people who say it's just for oil another favor. I'll say ONLY 80 bil. After we reach that 80 bil that it costs us, it's entirely profit. Now, this is again remarkably impossible. it will take us oil companies billions of dollars to get Iraqi's fields working again, but, for the sake of the argument, i'll not even factor that in.
http://www.gasandoil.com/goc/news/ntm24425.htm is my source for this article.
Iraqi oil production averaged 1.97 mm bpd in the first seven months of 2002, down from a peak of 3.48 mm in 1979,
Now, lets go with their average production of as 2002, even tho estimates NOW only put it's 5 year average production at 1.1mmbpd (million barrels of oil per day).
http://money.cnn.com/markets/commodities.html gives the futures cost of oil Oil as of May 9 at 14:55 was 27.72 dollars per barrel
Now, we take their average production of 1,970,000 and multiply that by the 27.72 per barrel it could sell for. That gives us 53,721,900 per day of profit, if we sold every single barrel for that price, and if we have, again this would be a business mans dream, ABSOLUTLY no overhead.
Now, we take the sum it cost us to fight the war, that being 80,000,000,000 (80 billion dollars) and divide it by our daily PURE profit from Iraq (that being the aforementioned 53,721,900$) we get 1502(rounded) days. If we divide that by 365(days in a year) we get just a bit over four years. So, if it doesn't cost us one penny more than the 80 bil Bush asked for (*and we know how well teh govt does at staying in budget!) and we leech every drop of oil from Iraq, and sell it all, then in four years, we'll have..uh.. just broken even. Of course, tou have to figure that not even HALF of the price ofa barrel of oil would be profit for us, but i'm just saying with THE absolute best conditions, four years. Why not just take venezuale? Or drill ANWR?
Jr
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As I felt the soft cool mud squish between my toes, I thought, Man, these are not very good shoes!
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Xlea321
Stranger
Registered: 02/25/01
Posts: 9,134
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Re: U.S. asks UN for control of Iraq's oil money [Re: JohnnyRespect]
#1536258 - 05/10/03 01:03 AM (20 years, 11 months ago) |
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Awww...my heart bleeds for those poor oil corporations profit margins. Tell you what, why don't they just give control of the Iraqi oilfields to the Iraqis and save themselves the trouble?
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Don't worry, B. Caapi
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pattern
multiplayer
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Loc: Canada
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Re: U.S. asks UN for control of Iraq's oil money [Re: Rono]
#1536706 - 05/10/03 09:26 AM (20 years, 11 months ago) |
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man = monkey + mushroom
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pattern
multiplayer
Registered: 07/19/02
Posts: 2,185
Loc: Canada
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Re: U.S. asks UN for control of Iraq's oil money [Re: Rono]
#1536708 - 05/10/03 09:27 AM (20 years, 11 months ago) |
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thanks for that link Rono! 
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man = monkey + mushroom
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GazzBut
Refraction
Registered: 10/15/02
Posts: 4,773
Loc: London UK
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Re: U.S. asks UN for control of Iraq's oil money [Re: JohnnyRespect]
#1536720 - 05/10/03 09:49 AM (20 years, 11 months ago) |
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Its not about actually selling the oil and pocketing the money. Its about controlling the flow by installing a US friendly government in Iraq, increasing the output of oil and then bringing the price down through increased supply.
I really cant believe you have brought this up again after the last time!
Did you not read I_Fart_Blue's reply to you?
Perhaps you should read it again.
Here it is
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Always Smi2le
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I_Fart_Blue
Stranger
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Re: U.S. asks UN for control of Iraq's oil money [Re: JohnnyRespect]
#1537135 - 05/10/03 02:23 PM (20 years, 11 months ago) |
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This post is as relevant as the last. Nice try, even though your figures are still as wrong, and just as worthless. I've previously stated what the EIA believes to be Iraq's sustainable output, which is higher than the 1.97 barrels you've used (I think it was 2.8 mb?).
I feel no need whatsoever to go terribly into depth, but again will restate that in this situation, flooding the market with oil lowers the ppb of oil, which in turn drives down the cost of oil based commodities. This savings is passed on to the consumer, and due to the real income effect, their real income increases. I've already shown how in turn this could generate 80 billion dollars for the American consumer by examining one sector of the market which oil prices influence. I've also commented on economists estimates that $10 change in oil prices affect the GDP by +/-.5%. In the year 2001, GDP was 9.8 trillion dollars. Do the math Johnny.
.005*9,800,000,000,000=49,000,000,000
Forty-nine billion dollars. Forty-nine billion dollars in income. Forty-nine billion dollars which is able to be spent to bolster the economy.
I am sorry if you think this is an attempt the "blur" the issue with "econ talk". This, however, is an economic matter, contrary to what you have convinced yourself of. You can continue to make the same post over and over again, however doing so does not change the fact that you are wrong. Your credibility in this forum is almost nil, why you continually choose to erode whatever remains is beyond me.
BTW, didn't you again say that you were leaving this forum? Make up your mind.
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"A study of the history of opinion is a necessary preliminary to the emancipation of the mind. I do not know which makes a man more conservative-to know nothing but the present, or nothing but the past." -John Maynard Keynes
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GazzBut
Refraction
Registered: 10/15/02
Posts: 4,773
Loc: London UK
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Re: U.S. asks UN for control of Iraq's oil money [Re: JohnnyRespect]
#1537562 - 05/10/03 06:10 PM (20 years, 11 months ago) |
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link
"Russian business has long-standing interests in Iraq. Lukoil, the biggest oil company in Russia, signed a $20bn contract in 1997 to drill the West Qurna oilfield. Such a deal could evaporate along with the Saddam regime, together with a more recent contract with Russian giant Zarubezhneft, which was granted a potential $90bn concession to develop the bin Umar oilfield. The total value of Saddam's foreign contract awards could reach $1.1 trillion, according to the International Energy Agency's World Energy Outlook 2001. "
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Always Smi2le
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Xlea321
Stranger
Registered: 02/25/01
Posts: 9,134
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Re: U.S. asks UN for control of Iraq's oil money [Re: GazzBut]
#1538339 - 05/11/03 12:50 AM (20 years, 11 months ago) |
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Guess I can stop weeping about the oil corporations profit margins
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Don't worry, B. Caapi
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