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Oil Prices and Iraq

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  • 13-05-2004 9:36am
    #1
    MeatProduct
    Registered Users Posts: 1,005 ✭✭✭


    Dear All,

    I'm sure not many of us were surprised that the price of oil has increased as a result of the US occupation of Iraq. What I would like to pose here is whether or not this was a goal of the US administration. Does the US administration want higher oil prices?

    Nick


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    #2
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    No. The US would like more control over the price of oil to keep it low. The US government hates having to rely on outside powers (OPEC, etc) in order to mantain a supply of what drives their economy. They've only have control of a small percentage of the worlds unused reserve of oil so they're resorting to hoarding a full two year supply and trying to control world oil politics whenever possible.

    Control over oil prices is the lowest common denominator in most of the US dealings with the middle east.


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    #3
    MeatProduct
    Registered Users Posts: 1,005 ✭✭✭MeatProduct


    Originally posted by leeroybrown
    No. The US would like more control over the price of oil to keep it low. The US government hates having to rely on outside powers (OPEC, etc) in order to mantain a supply of what drives their economy.

    Control over oil prices is the lowest common denominator in most of the US dealings with the middle east.
    Hi Leeroy,

    On the face of it I would agree with you. On the other hand doesn't the US admin have interestes in OPEC? I have heard this suggested before and if anyone has any proof of this please post it. I find it hard to believe that the most powerful country in the world would have no control over OPEC.

    Nick


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    #4
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    I'm sure it has a lot of influence within OPEC, but ultimately most of the oil reserves are still owned/controlled by non-us, arab groups.


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    #5
    Villain
    Registered Users Posts: 15,944 ✭✭✭✭Villain


    There was some guy from Dublin on the Ryan Show a few weeks back who had an oil company in Iraq, he said that there was a lot of lines been damaged by the Iraqi's because they didn't want the US to get the oil.

    He said they were damaging the lines rather than the refinery's because they know the wealth that will be avilable when the US leaves.


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