US buys up Iraqi oil to stave off crisis
January 27, 2003 7:43 AM   Subscribe

US buys up Iraqi oil to stave off crisis Buy now. Own later. Is this odd or what?
posted by Postroad (14 comments total)
and of course the price of gas will go through the roof and line the pockets of big oil. thank you george!
posted by quonsar at 8:01 AM on January 27, 2003

Ari Fleischer - "Is Iraq complying, yes or no? If the answer is only partially yes, then the answer is no." Cats living in harmony with dogs, chalk tasting good with cheese... This world is so double-thunk'ed, I despair. Going to sail my yacht right off the edge of the world, and watch the sun revolve around it...
posted by klaatu at 8:02 AM on January 27, 2003

klaatu, how is that any more double think than the old adage which it is pracitcally a rephrasing of?

"A half truth is a whole lie."
posted by jammer at 8:25 AM on January 27, 2003

Highlites from the article

. Iraq has "sweet crude" some of the most prized type of oil since its easy to refine.

. Iraq has the worlds second largest oil reserves.

. It costs $1 a barell to extract from Iraq versus $6 in Russia -- the oil is easy to get too.

. US commandos are set to protect those fields from destruction during a war.

. US is doubling its imports of Iraqi oil because of the Venezuela problems.

. Saddam has offered lucrative contracts to companies from France, China, India and Indonesia as well as Russia.

. It is only the oil majors based in Britain and America - now the leading military hawks - that don't have current access to Iraqi contracts.

. The US is facing its most chronic shortage in oil stocks for 27 years.
posted by stbalbach at 8:50 AM on January 27, 2003

Another highlight: The 'crisis' was precipitated by strikes in Venezuala - another country where Bush has been pursuing 'regime change'
posted by carter at 8:59 AM on January 27, 2003

Is this odd or what?

No shit. Look who's talking!
posted by azazello at 9:32 AM on January 27, 2003

Equating approaches of US politics and diplomacy between Iraq and Venezuala is ridiculous. While the government may wish for Chavez to be replaced (as does a substantial portion...though perhaps not a majority of Venezualans), it has conducted its diplomacy there in a very different way than in Iraq.
posted by pjgulliver at 9:45 AM on January 27, 2003

Equating approaches of US politics and diplomacy between Iraq and Venezuala is ridiculous.
I'm not so sure. Both countries have a lot of oil; and both have been or are the subject of regime change 'policies' by the US - a military coup in April 2002 in the case of Venezuala, an invasion in the case of Iraq - that would presumably make those oil supplies more accessible to the US.

Here's theThe Guardian on the Venezuala coup.

posted by carter at 10:11 AM on January 27, 2003

For Big Time Fun: "Guiding Principles for U.S. Post-Conflict Policy in Iraq" is a report created for the Council on Foreign Relations that outlines US intentions pretty well, or at least the ones you'll be hearing on the news mouthpieces. Check out the "Oil & Iraq: Opportunities & Challenges" addendum on page 15, particular the section in it called "Crafting a viable and credible public diplomacy campaign" which will be tacked up in the office of every news desk editor in the country to remind them of what kind of stories will float.
posted by badstone at 10:27 AM on January 27, 2003

Quite perverse. Doesn't this qualify as 'trading with the enemy?'
posted by holycola at 10:47 AM on January 27, 2003

The country that supplies the most oil to the US:

Canada and now they've got Celine Dion singing God Bless America at the Super frickin' Bowl. I'll tell you where its time for a "regime change" damnit! Watch out Jean, you're next!
posted by Pollomacho at 10:49 AM on January 27, 2003

Postroad - It's all part of the game plan. The Bush adm. has thought deeply about how to bring those Iraqi oilfields back online as quickly as possible. The boys of Haliburton are set to go, tools and supplies packed. They'll airdrop the Haliburton field repair boys just behind the 82nd Airborne, and get to work.

'Course there may be a little time lag, hence the accelerated buying of Iraqi oil now. I'm buying a wood stove.
posted by troutfishing at 12:35 PM on January 27, 2003

I've been practicing standing in line. I figure this will come in handy as things become more scarce, you know like food and stuff.
posted by Pollomacho at 1:18 PM on January 27, 2003

As if we needed more evidence it's all about the oil, baby. Of course Bush wants to bomb the s**t out of Iraq and get Saddam out of the way for not having to deal with the inconvenience of having the cake and not eat it too.

Perhaps the best that could happen to this world is that the oil reserves come to an end - then, lots of energy-saving alternative projects that are archived in oblivion today will become interesting again.
posted by betobeto at 8:03 AM on January 28, 2003

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