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Barrett808 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:56 AM
Original message
Iraq Threat to North Sea
THE aftermath of the Gulf War could end the North Sea oil industry in just 10 years, a report has warned.

Multi-national companies are being lured to rich oil fields in Iraq -but smaller independent firms are finding it too expen-sive to explore the North Sea. Jake Malloy, of oil workers' union OILC, who published the report, said: ``Oil in Iraq is cheap and accessible. Big companies are selling up in the North Sea and looking at the reserves in the Gulf.''

http://www.sundaymail.co.uk/news/content_objectid=13405...
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oneighty Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:58 AM
Response to Original message
1. Oil
has nothing to do with the invasion of Iraq. Oil has nothing to do.........

180
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kalian Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:58 AM
Response to Original message
2. But of course....
the war in Iraq was NOT about OIL...so stop saying that (/sarcasm off)
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Whoa_Nelly Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 12:01 PM
Response to Original message
3. WHAT?!?!?!
There's oil in Iraq???? I thought there were only people who needed herding and directing to a better life!
</sarcasm>
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Jacobin Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 12:04 PM
Response to Original message
4. Oil in Iraq "cheap and accessible"?
What are they smoking?

You have to have an armed militia to go drill a well, and convoys to bring in the rig, drill pipe, drilling mud, supplies and workers.
They are under constant attack and will be until they are run out.

What a crock of delusional crap. That may have BEEN their wet dream, but reality is a bitch.
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glitch Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 01:19 PM
Response to Reply #4
9. it is cheap for them, they don't pay the costs - taxpayers do nt
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htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 12:05 PM
Response to Original message
5. North Sea oil is running out
The production has declined so much in the last decade that they've had to consider finding another benchmark crude (ie., a number of other locations index their own price off that of 'Brent crude'), and have added a few regions to the Brent crude 'basket' to stabilize the price index.

Here's a link in summary:
http://www.eia.doe.gov/emeu/cabs/northsea.html
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bahrbearian Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 12:45 PM
Response to Reply #5
6. That how I see it.
Oil is not getting cheaper or easier to drill and export.
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hatrack Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 01:00 PM
Response to Reply #5
7. What a bullshit smokescreen!
British sector oil production in the North Sea peaked in 1999. Norway's oil production peaked in 2001. These are permanent peaks, and production will not return to earlier levels.

But we can't say THAT, now can we? No, no, better by far to blame evil Iraqi oil for falling North Sea production.
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htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 01:16 PM
Response to Reply #7
8. They seem to be purposely trying to make the 'cliff' we're heading towards
...as steep as possible.

It might be the most gratuitous (and probably the most calamitous) triumph of short-term greed over long-term needs in the history of our species.



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