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30.7.14 0203
The W - Current Events & Politics - For those of you who think France has the high moral ground
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Grimis
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Since: 11.7.02
From: MD

Since last post: 1184 days
Last activity: 981 days
#1 Posted on | Instant Rating: 7.29
From the Beirut Daily Star: The war on Iraq and oil price scenarios.

Iraq is believed to have contracts worth about $38 billion pending with companies such as Italy’s ENI, UK’s and Holland’s Royal Dutch-Shell, Australia’s BHP, France’s TotalFinaElf, and Russian giant Lukoil.

However, no development work has actually started on these deals because of the UN sanctions imposed on Iraq which have also precluded American companies from doing business in the country.

France is by far the biggest player. The giant TotalFinaElf has development rights to roughly 25 percent of total Iraqi reserves. In theory, France’s long relationship with Iraq’s national oil company could put the French in a good position for more deals after any war. But at the moment, many French industry officials remain convinced that the Americans will not allow French oil companies to work in Iraq if France fails to support the war effort.

That’s why French observers believe that when the final decision is to be taken by the UN, France is unlikely to block it with a veto, in order to protect its future oil interests.


According to some brief calculations by Rich Galen at mullings.com:

Let us run the numbers: Iraq has an estimated 112.5 BILLION barrels of proven oil reserves. That makes them second on the planet behind Saudi Arabia.

Of the 526 known oil deposits in Iraq's 74 known oil fields, only 125 - about a quarter - have been drilled.

At a non-war-inflated price of about $25 per barrel that works out to about $2.8 TRILLION dollars worth of oil.


Frances take: $700 BILLION at normal prices. If the price per barrel goes up, we're talking TRILLIONS.

So don't be surprised when France backs the US in the war. They have too much money to lose...

(edited by Grimis on 10.3.03 1043)


There is no room in this country for hyphenated Americanism.
- Theodore Roosevelt, Ocotber 12, 1915
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jfkfc
Liverwurst








Since: 9.2.02

Since last post: 13 days
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#2 Posted on | Instant Rating: 3.87
And to think, all of this time I thought it was just because the French were a bunch of pussies. Live and learn, I suppose.



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-Jesse "The Body" Ventura

"Bob Ryder sucks" - Me.
spf
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Since: 2.1.02
From: The Las Vegas of Canada

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#3 Posted on
This article actually reminds me of an idea I heard which would help to lower some of the skepticism about this war. Once Saddam is out and the West goes into the country, rather than letting the aforementioned oil giants pull the hundreds of billions out of the country, something should be done so the oil profits go directly into rebuilding Iraq's infrastructure and social services. Perhaps through a UN administered trust or something. Instead though once he's gone Big Oil will get in, make hundreds of billions of dollars, and the only difference for the everyday Iraqi will be they can say "this sucks" and not be shot.



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redsoxnation
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Since: 24.7.02

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#4 Posted on

    Originally posted by spf2119
    This article actually reminds me of an idea I heard which would help to lower some of the skepticism about this war. Once Saddam is out and the West goes into the country, rather than letting the aforementioned oil giants pull the hundreds of billions out of the country, something should be done so the oil profits go directly into rebuilding Iraq's infrastructure and social services. Perhaps through a UN administered trust or something. Instead though once he's gone Big Oil will get in, make hundreds of billions of dollars, and the only difference for the everyday Iraqi will be they can say "this sucks" and not be shot.








The problem with putting a UN trust in charge is that the money will just end up being used for bureaucracy or just embezzled outright. I'd actually trust the federal government with money before I'd trust the UN.
Also, being able to say "this sucks" and not being shot for it is a nice improvement.



I'll pay $49.95 for the Execute Bin Laden PPV. And I'll buy one of the lottery tickets at 10 bucks a pop to be the executioner.
spf
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Since: 2.1.02
From: The Las Vegas of Canada

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#5 Posted on
redsox you're pointing out a problem at the edge of the issue to attempt to discredit the whole thing. If Italy’s ENI, UK’s and Holland’s Royal Dutch-Shell, Australia’s BHP, France’s TotalFinaElf, and Russian giant Lukoil are the ones who take control, the resources of Iraq will never provide the slightest bit of assistance to the people of that country. And for all of Dubya's proclamations about caring about the people of Iraq, if all we can provide are civil liberties, people will quickly be swayed by those who ask for those to be given back in return for a meal or two. Which would not only cause some of us moral concern, but would be a strategic problem as well. You cannot hope to build a functioning democracy if the nation is not in control of its own resources.



The Most Bitter Place On The Net.

The current artist tickling my fancy: Brenda Weiler


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redsoxnation
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Since: 24.7.02

Since last post: 394 days
Last activity: 394 days
#6 Posted on
I agree that it should be internal Iraqi firms (if only one company is established, then no good comes of it. Competition will be need.) that should be established and control the oil in Iraq rather than American/European/Asian interests. Should the American/European/Asian interests be allowed to invest in these companies. Definately, the additional capital will be needed to expand production. However, I wouldn't allow foreign companies to have a controlling interest in the Iraqi firms.
My problem with a UN trust being established is that it provides no inducement for capital investment, little potential for the ability of competition to develop, and the UN is the last place in the world I'd like to see money flowing into, because the money won't be flowing back out to where its needed.
On the original title of the thread, of course France doesn't have the high moral ground; I mean, since when does France have any morals?



I'll pay $49.95 for the Execute Bin Laden PPV. And I'll buy one of the lottery tickets at 10 bucks a pop to be the executioner.
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Thought it was posted on here, but after searching, I guess I was wrong... Anyhoo -- Maya had a Xanga blog, and the Dem bloggers jumped on it and its content, since she outed herself on there. Once again, fun and frivality in IL politics. :D
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