Showing posts with label oil reserves. Show all posts
Showing posts with label oil reserves. Show all posts

Tuesday, June 17, 2008

Congress finds Big Oil holding back fields that could DOUBLE US output

Rush Limbaugh and other right wing commentators have blamed high oil prices on limits on off-shore drilling near the US and in ANWR, but what makes people think big oil will pump more if we give them more oil fields?

Right now, they hold leases to federal land that they AREN'T DRILLING ON that could DOUBLE US oil output according to the House Committee on Natural Resources. They have introduced a bill to make them use those fields or lose them:
KEY EXCERPTS:


Washington, D.C. - In an effort to compel oil and gas companies to produce on the 68 million acres of federal lands, both onshore and offshore, that are leased but sitting idle, House Natural Resources Committee Chairman Nick J. Rahall (D-WV) today introduced legislation that gives Big Oil one option - either "use it or lose it."

The 68 million acres of leased but inactive federal land have the potential to produce an additional 4.8 million barrels of oil and 44.7 billion cubic feet of natural gas each day. This would nearly double total U.S. oil production, and increase natural gas production by 75 percent. It would also cut U.S. oil imports by more than one-third, reducing America's dependency on foreign oil.

The Rahall bill would force oil and gas companies to either produce or give up federal onshore and offshore leases they are stockpiling by barring the companies from obtaining any more leases unless they can demonstrate that they are producing oil and gas, or are diligently developing the leases they already hold, during the initial term of the leases.

Coal companies... are required... to show that they are diligently developing their leases during the initial lease term. The law was enacted in an effort to end rampant speculation on federal coal as a result of the energy crises of the 1970's.

Oil and gas companies, however, are not required to demonstrate diligent development. Because of this, oil and gas companies have been allowed to stockpile leases in a non-producing status, while leaving millions of acres of leased land untouched. The Rahall legislation directs the Secretary of the Interior to define what constitutes diligent development for oil and gas leases.

FULL TEXT

They are holding those fields back to control the price and keep it high, just as they aren't shedding too many tears over the violence in Iraq or war talk about Iran since that drives up the price of oil too.

In fact, before the Iraq War, OIL & GAS JOURNAL fretted that when the sanctions came off, Saddam would pump too much oil and drive down prices--unless there was a war. We gave them the war, and they rewarded our sacrifice of tax dollars and soldiers lives by gouging us at the pump.

If they didn't charge us less for giving them Iraq, why would they for ANWR?

Tell your congressman and senators to support the Responsible Federal Oil and Gas Lease Act of 2008 (H.R. 6251).



Wednesday, October 24, 2007

Iraq War happy ending in sight: Iraqis keep oil, Bush & cronies get nothing

Despite hundreds of thousands of dead, and their country salted with depleted uranium, the Iraqis may yet take control of their democracy and natural resources--IN SPITE of Bush, not because of him.

From before the start of the war, the Bush administration planned to privatize and sell off everything in Iraq to their cronies at bargain basement prices, especially the oil.

The Bushies one mistake is they thought the Iraqis are as stupid as the average Fox News viewer, and would believe whatever hatful of shit propaganda he dished out, and if they didn't, they could scare the Iraqis into obedience by picking up people at random and torturing and raping them at Abu Ghraib.

The Iraqis knew why Bush was there though, and even after Bush vetoed their choice for prime minister and approved his replacement and then threatened him with firing, the Iraqis refused to sign away their oil wealth to Bush's corporate cronies.

If the Iraqis are successful in hanging onto their oil, it might just shave a few years off the hatred Bush has earned for us. But it won't bring back the grandmothers and babies crushed in rubble or the arms burned off a boy in the initial and on-going shock and awe air strikes.
KEY EXCERPTS:

Tomgram: Jack Miles, Baghdad to Bush: You Have 14 Months

By December 31, 2008, according to Foreign Minister Hoshyar Zebari, the government of Iraq intends to have replaced the existing mandate for a multinational security force with a conventional bilateral security agreement with the United States, an agreement of the sort that Washington has with Kuwait, Saudi Arabia, and several other countries in the Middle East. The Security Council has always paired the annual renewal of its mandate for the multinational force with the renewal of a second mandate for the management of Iraqi oil revenues. This happens through the "Development Fund for Iraq," a kind of escrow account set up by the occupying powers after the overthrow of the Saddam Hussein regime and recognized in 2003 by U.N. Security Council Resolution 1483. The oil game will be up if and when Iraq announces that this mandate, too, will be terminated at a date certain in favor of resource-development agreements that -- like the envisioned security agreement -- match those of other states in the region.

The game will be up because, as Antonia Juhasz pointed out last March in a New York Times op-ed, "Whose Oil Is It, Anyway?":

"Iraq's neighbors Iran, Kuwait and Saudi Arabia…. have outlawed foreign control over oil development. They all hire international oil companies as contractors to provide specific services as needed, for a limited duration, and without giving the foreign company any direct interest in the oil produced."

By contrast, the oil legislation now pending in the Iraqi parliament awards foreign oil companies coveted, long-term, 20-35 year contracts of just the sort that neighboring oil-producers have rejected for decades. It also places the Iraqi oil industry under the control of an appointed body that would include representatives of international oil companies as full voting members.

The news that the duly elected government of Iraq is exercising its limited sovereignty to set a date for termination of the American occupation radically undercuts all discussion in Congress or by American presidential candidates of how soon the U.S. occupation of Iraq may "safely" end. Yet if, by the same route, Iraq were to resume full and independent control over the world's third-largest proven oil reserves -- 200 to 300 million barrels of light crude worth as much as $30 trillion at today's prices -- a politically incorrect question might break rudely out of the Internet universe and into the mainstream media world, into, that is, the open: Has the Iraq war been an oil war from the outset?

***
Clearly, some in Washington still think so. Shortly before the collapse of the Iraqi oil legislation effort, Bush's Commerce Department began quietly advertising for an Arabic-speaking legal advisor to help it in "providing technical assistance to Iraq to create a legal and tax environment conducive to domestic and foreign investment in Iraq's key economic sectors, starting with the mineral resources sector." (Read: starting with oil.) As it happens, the job description overlaps heavily with that of the Development Fund for Iraq's existing International Advisory and Monitoring Board, whose responsibility, according to U.N. Security Council Resolution 1483, has been to see to it "that all export sales of petroleum, petroleum products, and natural gas from Iraq…. shall be made consistent with prevailing international marketing best practices." Is the Commerce Department already planning for the demise of this board? Like the super-embassy and the super-bases, this bit of Commerce Department staffing-up bespeaks the urge to continue an invasive American presence in Iraq, including Iraq's energy sector, long after December 31, 2008.

But if the occupation is shut down legally after that date and if Iraqi control over Iraqi oil reverts -- legally, at least -- to something close to pre-war status, that Commerce Department expert may find him or herself playing a less-than-major role in Baghdad. Instead, expect a new role for Iraq's hitherto excluded pool of domestic expertise. The Iraq National Oil Company began operations back in 1961; its legacy includes a skilled work force of trained oil workers. Notable, in fact, among those opposed to the failed oil legislation is the Iraqi Federation of Oil Unions. Its members object to provisions in the legislation that permit the hiring of foreign oil workers rather than Iraqis and -- in classic Bush Administration fashion -- exclude the union from any participation in contract negotiations. The Federation's protests have attracted a letter of support signed by six Nobel Peace Prize laureates.


FULL TEXT


MORE IRAQ OIL THEFT RESOURCES


Friday, April 20, 2007

Iraq's doubled OIL reserves & Cheney's 2001 map of Iraq's oil

The Financial Times of London is now reporting that Iraq's oil reserves may be double earlier estimates.

In addition to providing further confirmation that the war was about oil, one detail stood out--the location of the oil reserves that have been revised upward.

I went back and looked at the maps Cheney's Energy Task Force was pouring over in 2oo1 before the war and before even 9/11. They were looking at those same fields in Western Iraq, and had list of "foreign suitors" (read competitors) for those exploration blocks, shown in pink on Cheney's map (I added the color).

Cheney Energy Task Force Docs
Cheney's reluctance to give them up

So Cheney meets with oil companies and looks at maps of Iraq. Then Condi gets a memo telling her to “cooperate fully with the Energy Task Force as it considered melding two seemingly unrelated areas of policy.” The NSC was ordered to support “the review of operational policies towards rogue states such as Iraq and actions regarding the capture of new and existing oil and gas fields.”

Bush cancelled Saddam's oil contracts when we invaded, and now he is pushing the Iraqis to adopt a hydrocarbon law that will give up to 80% of Iraq's oil wealth to American oil companies.

BBC's Greg Palast on what happened

Palast reported on one reason for the war told to him by the former top CIA oil analyst: the war was to keep oil prices HIGH. This seemed far-fetched when I first read it, but there has been some independent confirmation. For one, in the Downing Street Minutes, Bush sends assurances to Putin that a successful invasion of Iraq would NOT result in lower oil prices. For another, many policy documents talk about Iraq being a "swing producer," meaning how much they produce could affect the price per barrel, but the Oil and Gas Journal said it explicitly: without the Iraq War, oil would be TOO CHEAP.

This war is not about getting oil for us. It is another way for Bush to use tax dollars to make his rich friends richer.

We have killed over half a million Iraqis, spent our tax dollars, soldiers lives, and goodwill in the Arab world to give the oil companies this gift worth tens of TRILLIONS of dollars.

What do you think they are going to do to repay us? ANYTHING?

It is time to tell our congressman and senators to cut the shit. We know what Bush is doing in Iraq, and if they don't start talking about it, we can only assume they disapprove of him failing, not his original oil theft mission.

Find your congressman & senators

KEY EXCERPTS:

Iraq may hold twice as much oil

By Ed Crooks in London

Published: April 18 2007 20:24 | Last updated: April 19 2007 09:08

Iraq could hold almost twice as much oil in its reserves as had been thought, according to the most comprehensive independent study of its resources since the US-led invasion in 2003.

The potential presence of a further 100bn barrels in the western desert highlights the opportunity for Iraq to be one of the world’s biggest oil suppliers, and its attractions for international oil companies – if the conflict in the country can be resolved.

If confirmed, it would raise Iraq from the world’s third largest source of oil reserves with 116bn barrels to second place, behind Saudi Arabia and overtaking Iran.

***
That would put Iraq in the top five oil-producing countries in the world, at current rates.

FULL TEXT

OIL motive for IRAQ WAR resources


public relations

Friday, November 11, 2005

Powell aide says war about OIL so we can't leave

Colin Powell's chief of staff has been speaking out on the workings of the Bush administration, and confirming what critics on the left have been saying about Bush since the beginning: that they have subverted the way our government works, and that the checks and balances which Bush ignores are actually needed for our security.

More importantly though, he openly acknowledges the significance of OIL in the decision-making process to go to war and why policy-makers will not seriously consider a pullout, regardless of their public statements or party affiliation.

This article also recounts what Former Bush Treasury Secretary John O'Neill said about the extent of the oil planning before the war and even before 9/11.

Totally apart from whether we should stay in Iraq or go, it's a sad comment on our democracy that NONE of the real debate is going on in public, not by the rubber stamp republican congress, and not even by the supposed opposition Democrats.


I don't know what good it does, but I'm going to send this to every Democratic senator and bust their balls about lying to us as much as the Republicans do on Iraq.

KEY EXCERPTS:



So Iraq Was About the Oil

By Robert Parry

November 8, 2005


While bemoaning the administration’s incompetence in implementing the war strategy, Wilkerson said the U.S. government now had no choice but to succeed in Iraq or face the necessity of conquering the Middle East within the next 10 years to ensure access to the region’s oil supplies.


“We had a discussion in (the State Department’s Office of) Policy Planning about actually mounting an operation to take the oilfields of the Middle East, internationalize them, put them under some sort of U.N. trusteeship and administer the revenues and the oil accordingly,” Wilkerson said. “That’s how serious we thought about it.


***********************************

Active preparations for war with Iraq were soon underway. Behind the scenes, O’Neill said he watched as the administration refined its plans for how to divvy up Iraq’s oil reserves after the invasion.


“Documents were being prepared by the Defense Intelligence Agency, (Defense Secretary Donald) Rumsfeld’s intelligence arm, mapping Iraq’s oil fields and exploration areas and listing companies that might be interested in leveraging the precious asset,” Suskind wrote in The Price of Loyalty.


***********************************


On Feb. 3, 2001 – only two weeks after Bush took office – an NSC document instructed NSC officials to cooperate with Cheney’s Energy Task Force because it was “melding” two previously unrelated areas of policy: “the review of operational policies towards rogue states” and “actions regarding the capture of new and existing oil and gas fields.”


FULL TEXT:

http://www.consortiumnews.com/2005/110705.html

TRANSCRIPT OF WILKENSON SPEECH:
http://www.newamerica.net/Download_Docs/pdfs/Doc_File_2644_1.pdf

GREG PALAST OVERVIEW OF OIL MOTIVE:
http://www.gregpalast.com/iraqmeetingstimeline.html


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