With a quarter of the world's proven oil reserves and some of its lowest production costs, Saudi Arabia produces over 4 gigabarrels (600 million tons) of oil per year (17 tons per second)
-Wikipedia
So thats a quarter of the worlds oil right there. If you notice, were GREAT buddies with the saudis. Even though they have one of the (actually the worst) human rights conditions in the world. They make the shit you hear about saddam doing sound like a day in the park.
Iran had the world's second largest reserves of conventional crude oil at 136 gigabarrels as of 2007, although it ranks third if Canadian reserves of non-conventional oil are included. This is roughly 10 percent of the world's total proven petroleum reserves.
Another ten percent. Anyone care to guess who were invading next?
Iraq has the third largest reserves of conventional oil in the world, although it would rank fourth if proven reserves of non-conventional oil in Canada are considered.
Bam. That explains allot, Aside from pissing off the rest of the middle east enough to raise oil prices (Which they CAN do, I wont even get into the "free market" bullshit. The entire world certainly does not have a free market, the Opec is made up of a handful of oil superpowers (for the middle east there superpowers at least!) And has NO problem setting the global market oil price.
They have a monoply, and the Opec is the group that runs that monopoly.
I can see where you would assume the price would be set much like those of other goods uptown. But it simply is NOT the case, Do a little research on the
oil embargo of the 70's. Who do you think caused that?
Yup, the good 'ol Opec.
You can quote public statements all you like, but just because someone says "No, we wouldnt do THAT" does not mean they dont. Look up the Opecs oil price right now, its been raised to somewhere near 144 a barrel last I remember. Thats up almost double from 2000.
Oh and as for Iraq? Who do you think got most of the rebuilding contracts and access to the oil wells?
Halliburton. The company cheyney used to CEO of, and still holds billions of dollars worth of stock in.
The president may not "set" oil prices, but with some good political maneuvering pissing off the right people is not hard to do. Alongside that, Bush has pocketed some nice money for his buddy cheyney and is able to say he cleaned up his daddys mess.
Its not so much our leadership is incompetent, as that they either are extremely intelligent and manipulative, or they simply quit giving a shit 20 to 30 years ago and said "fuck it all, lets milk these fuckers for all there worth"
Suffice to say, were fucked. But like the other dood with the same general opinion about Americas future had to say (I forget his name while Im typing this) Its a real shame and truly is tragic to see this country go the way of Greece and Rome. However,
Fuck it. Ive got living to do.
