Corvette Forum : DigitalCorvettes.com Corvette Forums banner

1 - 13 of 13 Posts

·
Registered
Joined
·
25,253 Posts
Discussion Starter #1
Anyone heard of the new oil field being developed by BP near Basra, Iraq? It appears to be the second largest in the world after Saudi Arabia's largest. Exxon also has a major find in Iraq near the Kuwait border. Other than the fact that this will mean a huge amount of money for Iraq and the companies involved, it could wreak havoc on OPEC if Iraq decides to pump a lot of oil, which they are likely to do. The end result could be lower oil prices over the next several years. Excerpt from Ft. Worth Star-Telegram article:


"BASRA, Iraq -- On a bleak stretch of desert near the Iraq-Kuwait border -- half a world away from the Gulf of Mexico and last year's nightmarish blowout -- BP is riding high, rapidly developing one of the world's richest oil fields.
The British energy giant plans to drill 3,000 new wells here in 10 years and build a town from scratch to house 4,000 employees. BP and Iraqi officials hope the Rumaila field will soon become the second-most productive in the world -- after Saudi Arabia's Ghawar -- propelling the country into competition with Saudi Arabia and Iran. Iraq sits on the world's third-largest oil reserves, after Saudi Arabia and Venezuela, with the biggest known fields lying under the windswept sands outside Basra. Despite aging pipelines, spotty electricity, chronic insecurity and a maze of inefficient bureaucracy, the oil sector is pressing an ambitious expansion plan that will determine Iraq's economic future long after the last American soldiers withdraw at the end of the year."


Read more: http://www.star-telegram.com/2011/01/29/2807460/bp-developing-one-of-the-worlds.html#ixzz1CdaEA500
 

·
Banned
Joined
·
31,366 Posts
70's new ice age: LIE
80's ozone hole: LIE
90's - present, Global Warming: LIE
70's to present, peak oil: LIE

Too many lies to believe anything the media or government serves up.. there is enough oil left on this rock for 300 years.. but energy is freedom, and freedom is the last thing anyone in power anywhere wants.
 

·
DC Pit Crew
Joined
·
11,957 Posts
hope they sell the crap outta it....i could live with 1.-- a gallon gas
 

·
Banned
Joined
·
12,109 Posts
Anyone heard of the new oil field being developed by BP near Basra, Iraq? It appears to be the second largest in the world after Saudi Arabia's largest. Exxon also has a major find in Iraq near the Kuwait border. Other than the fact that this will mean a huge amount of money for Iraq and the companies involved, it could wreak havoc on OPEC if Iraq decides to pump a lot of oil, which they are likely to do. The end result could be lower oil prices over the next several years. Excerpt from Ft. Worth Star-Telegram article:


"BASRA, Iraq -- On a bleak stretch of desert near the Iraq-Kuwait border -- half a world away from the Gulf of Mexico and last year's nightmarish blowout -- BP is riding high, rapidly developing one of the world's richest oil fields.
The British energy giant plans to drill 3,000 new wells here in 10 years and build a town from scratch to house 4,000 employees. BP and Iraqi officials hope the Rumaila field will soon become the second-most productive in the world -- after Saudi Arabia's Ghawar -- propelling the country into competition with Saudi Arabia and Iran. Iraq sits on the world's third-largest oil reserves, after Saudi Arabia and Venezuela, with the biggest known fields lying under the windswept sands outside Basra. Despite aging pipelines, spotty electricity, chronic insecurity and a maze of inefficient bureaucracy, the oil sector is pressing an ambitious expansion plan that will determine Iraq's economic future long after the last American soldiers withdraw at the end of the year."


Read more: http://www.star-telegram.com/2011/01/29/2807460/bp-developing-one-of-the-worlds.html#ixzz1CdaEA500

Shocking....
 

·
Registered
Joined
·
25,253 Posts
Discussion Starter #6
Shocking....
Yeah - to the Saudis. :laughing: I think part of the original plan on invading Iraq was to get them on their feet and get the oil flowing so they could pay for their rebuilding and modernizing. Looks like another piece in the "Success" puzzle is falling into place - much to the chagrin of the leftists, I'm sure.
 

·
Registered
Joined
·
19,914 Posts
That should be our oil...
 

·
Registered
Joined
·
1,078 Posts
So now it will only take BP a month to recuperate all the money they spent for the Gulf disaster.
 

·
Banned
Joined
·
14,241 Posts
That field has been known for over 30 years. No surprise there have been 3 wars in as many decades.
 

·
Banned
Joined
·
12,109 Posts
so they could pay for their rebuilding and modernizing.....
instead of our taxes paying for it......



Now our taxes paid for it...... and........ the oil companies get to reap the profits.


I doubt we will recoup a dime.....
 

·
Registered
Joined
·
19,914 Posts
1 - 13 of 13 Posts
Top