"Oil reserves in Iraq will be the largest in the world according to recent geological surveys and seismic data."
Oil reserves in Iraq - Wikipedia, the free encyclopedia
Not forgetting that the UK was also involved in the war.
"Baghdad, Iraq - While the US military has formally ended its occupation of Iraq, some of the largest western oil companies, ExxonMobil, BP and Shell, remain."
"Iraq's supergiant Rumaila oil field is already being developed by BP, and the other supergiant reserve, Majnoon oil field, is being developed by Royal Dutch Shell. Both fields are in southern Iraq."
Western oil firms remain as US exits Iraq - Features - Al Jazeera English
Gold, Oil, Africa and Why the West Wants Gadhafi Dead
Is ?Gold? the Real Reason for NATO?s Action in Libya?
Iran has already rejected the collar and except the Euro at the moment but are now moving into a Gold only system. This time the problem the USA has is Iran's good relationship with China and Russia. If the three form an alliance on energy...well, that will scupper any real sabre rattling by Obama and co.
Iran Replaces The US Dollar With The Euro
India to buy Iran oil in gold NOT DOLLARS! - Chinese Economy - China Forum
India Buys Iran’s Oil in Gold Bullion; Dollar Drops; ‘Iran is Winning’ – Vitol, oil trader #1 (Reuters)*|*NewsRescue!
March 20, 2012 - Iranian oil bourse will start trading oil in other currencies apart from the US dollar | Ron Paul 2012 | Peace . Gold . Liberty
Ever wondered why the so called Rebels and the bad press Assad is getting comes from. All us bleeding hearts at the terrible devastation going on in Syria. Now we know why the Russians and Chinese want him to stay in power. The Chines will begin paying in Gold too. The USA is up to its chin in debt to China, and their gold reserves will soon be depleted if they are forced to pay for oil in Gold, instead of their near worthless currency.
This is a serious situation where a sudden bad decision could plunge the World into a war over resources.
Of course it could all be called a conspiracy theory, but we see every day on the news the fighting in Syria, that with Russian and Chines Vetos.will allow Assad to win the war on the rebels. Then we will see his revenge on the west when he follows suit.
Of course the answer will be to follow suit and only except gold as payment for goods like food and other essentials Iran, Syria and Libya needs. It works both ways. Proper embargoes and controlled movement of commodities, with Gold as the only way of paying for goods will soon make a difference when such countries need to feed their people.
Well I might be wrong, but it is what I would do. Going to War would not help, but a new kind of war, of attrition of gold reserves will soon bring about some kind of compromise.
Gold, Platinum, rare Earth's and so on. Major commodities we need to continue our technology, consumer electronics, communications and so on. Take the metals and diamonds for our exports, we set up a market for our western selves and carry on.
The Gold Standard is already shaking off the dust of ages.... mark my words.
Originally Posted by Road_Hog;1337972[B
Indeed, let's look at some facts, and not the carefully constructed lies and propaganda dispensed by al Jazeera, for example this is their quote from your link :-
"Prior to the 2003 invasion and occupation of Iraq, US and other western oil companies were all but completely shut out of Iraq's oil market," oil industry analyst Antonia Juhasz told Al Jazeera. "But thanks to the invasion and occupation, the companies are now back inside Iraq and producing oil there for the first time since being forced out of the country in 1973."
That was a pack of lies, especially regarding being shut out of Iraq's market.
Figures for American Crude Oil Imports from Iraq for the year before the war, and last year :-
2002 = 460,000 bpd
2011 = 391,000 bpd
However, it has never provided a significant proportion of U.S imports, as Luigi pointed out.
I realise your post did not actually claim to dispute Luigi's statistics, but it gave that impression by raising irrelevancies, some of which I shall now counter.
Facts [ whatever the flavour of the Iraqi government ]:-
It needs all the money it can get to rebuild it's infrastructure
It's major asset is crude oil, and to maximise it's profit, it needs to employ the most experienced and capable firms to find it and extract it and these are American - it does not follow that this oil will go to the US.
Analysts point out Iraq drove a hard bargain with the oil companies, and opted for an international mix, with Russia and China, among others also involved, with some large U.S. oil companies missing out, which gives the lie to American manipulation.
Let's not even bother to read your post Spector. As I've already said, you bore me, I have no wish to enter into a discussion with you, because you'll only drag me down to your level and beat me with experience.
However the war was not just funded by real money it was also funded by the Federal Reserves ability to print money from nothing, an ability it will lose if oil is not bought and sold in dollars not only will it lose it's world reserve status the american economy will collapse.
So a trillion for a war is small money, as long as we are dumb enough to pay for it.
“Most people do not listen with the intent to understand. They listen with the intent to reply.” Stephen Covey