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ian neal
Angel - now passed away
Joined: 26 Jul 2005
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Location: UK
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Busker
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Joined: 13 Jun 2006
Posts: 374
Location: North East
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 Posted: Tue Apr 24, 2007 9:02 pm Post subject: |
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| All of which has been carved up by the big oil companies already hasn't it? |
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kbo234
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Joined: 10 Dec 2005
Posts: 2017
Location: Croydon, Surrey
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| Posted: Tue Apr 24, 2007 9:26 pm Post subject: |
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'The Federal Oil and Gas Council', a body not subject to the authority of the Iraqi parliament (it would appear) will decide who gets the oil.....i.e. Exxon, Texaco, BP, Shell, Esso etc. Mind you, while the US remain in Iraq they control the Iraqi government anyway.....that's the other main reason (besides keeping enemies of Israel at bay) why they are staying there.
See here:
http://www.thetruthseeker.co.uk/article.asp?ID=6398 |
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James C
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Joined: 26 Jan 2006
Posts: 1046
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| Posted: Fri Apr 27, 2007 6:27 am Post subject: |
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I always find it amazing that CERA can repeatedly make the claim that peak oil is not an issue and then show this graph (which they always show) that proves Hubbert was indeed correct. Regardless of the fact that the total output of the US has been greater than Hubbert predicted, the peak did occur at exactly the time he said it would. Since peak oil is about the peaking of oil supplies and not a study of reserves or output then no wonder people get it so wrong after reading what CERA has to say.
So what if Iraq does contain twice the stated reserves. If it takes several years to start extracting all that oil at its full potential, which it will, then at best it will only offset the declines in older oil fields elsewhere in the world. However, the general consensus is that the declines globally will be greater than the sum of the increases which in short means the global oil market will go into a net decline and so by definition a peak will be reached and probably soon. |
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