Quote:
Originally posted by JOH
Iraq, has been distributing oil for many years for humanitarian needs (sanctioned by the United Nations) and has little effect on supplies. Speculate what may occur when the "Iraq War" starts, the remaining OPEC countries will make up the loss as they did with Veneusala(sp).
Those who say it?s for "Oil? don't understand global economics.
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Iraq's current output has minimal effect on world supplies because they can only sell a limited amount of oil under the UN oil for food program. Iraq's refinery equipment is also in poor condition due to war damage and 12 years of sanctions and are operating far, far below optimum capacity. The US, UK, France, China and Russia all know this and each has a major stake in upping Iraqi output and getting that oil out of the ground. Russia, China and France are going the route of dealing with the current regime through various contracts and trying to upgrade Iraqi refineries. These countries have a lot to lose if war breaks out.
The US is choosing an alternate strategy and has a lot to gain. They are going for broke and will take a huge risk by launching all out war in a bid to dominate Iraqi oil fields 100% They will install a military government which will eventually give way to a puppet regime.