oil imports to us. http://www.eia.doe.gov/aer/txt/ptb0504.html
I guess I should of stated that different. A large portion of oil from arabic countries come from Iraq.
I didnt realize that so much comes from mexico and the UK.
the Uk oil import is kind of funny. considering they pay over $5.00 a gallon in Brittain. but when they export to the U.S. they charge under $2.00 a gallon.
I guess I should of stated that different. A large portion of oil from arabic countries come from Iraq.
I didnt realize that so much comes from mexico and the UK.
the Uk oil import is kind of funny. considering they pay over $5.00 a gallon in Brittain. but when they export to the U.S. they charge under $2.00 a gallon.
my66coupe said:
OPEC and industry mulfunctions are conviniet excuses often blamed for price hikes. While these excuses are convinient for everybody, I think US goverment priorities are real culpit for the price increase. Bush and Cheney are up to their neck in oil interests. High prices mean record setting profits that oil industry had for the last couple of years when most companies were tightening their belts. Why would Bush cut its own liveblood??
US goverment has a lot of ways to stabilize oil prices, from active persuing of OPEC and oil industry to direct intervention with US oil reserves. These methods proved effective during Clinton years but completely ignored now.
unfortunately, none of this will work. I like to call it the "Cabbage Patch Syndrome". Remember several years ago at Christmas Cabbage Patch kids became an out of nowhere hit. So big that they were selling out faster than they could be produced. Knowing that parents were in a desparate situation to make sure their kids weren't left out, retailers began jacking up prices; people continued to pay. Well, every Christmas since there has been a Christams time shortage of the hottest toy, retail prices skyrocket, then, miraculously, come January they have plenty of the particular toy. Same thing is happening here with the gas. OPEC and the oil companies have watched us buy new cars, especially SUVs, for the past 2+ years (since 9/11) at an alarming rate (since interest rates were so low). Now they see the opportunity. People are paying for their new gas guzzlers, won't use mass transit, heading into the driving season, BAM, prices skyrocket.
As for the Oil For Food program I don't think we received any imports from Iraq, if we did it was indirectly through another country who purchased it (there are too many contracts and comm numbers to know for sure). Under the Oil For Food program Iraq had complete control over who they contracted with. Most of the decisions were political going to countries who Iraq felt would support them on the UN Security council (France, Russia, Germany, China. Imagine that, the same ones who opposed the war). Iraq also under produced so they would not have to use their reserves to pay for food, medicines, etc (You know, the silly things the program allowed).
As for the Oil For Food program I don't think we received any imports from Iraq, if we did it was indirectly through another country who purchased it (there are too many contracts and comm numbers to know for sure). Under the Oil For Food program Iraq had complete control over who they contracted with. Most of the decisions were political going to countries who Iraq felt would support them on the UN Security council (France, Russia, Germany, China. Imagine that, the same ones who opposed the war). Iraq also under produced so they would not have to use their reserves to pay for food, medicines, etc (You know, the silly things the program allowed).
Gasoline prices are going to go up to $3 per gallon. If this happens, we will be in a deeper recession than we are in right now. I wish that the Jews owned all the oil. Then gasoline prices would be low. Jews control the banking system and interest rates are very low. If they also controlled the oil, gasoline prices would be low too.
I see Ron is tryng to start a flame war...but i'll stick to the facts
Iraq was legally pumping only 2mil barrels a day under the food for oil program. I think its been shown (and probably some who where actually there might know for sure) that they were pumping illegally to finance buying some stuff from a few nations who will remain nameless but who didn't support the US position.
Ay..off topic I went...
OPEC has openly stated that they are curtailing production to keep wholesale prices artifically high, generating more profit for them. Look at it this way, if any companies in the US did the same thing, they would be investigated under anti-trust laws.. What I don't understand is why the retail price is so much higher now than 1997 when wholesale prices hit about the same mark? Where's the profit padding now?....
Iraq was legally pumping only 2mil barrels a day under the food for oil program. I think its been shown (and probably some who where actually there might know for sure) that they were pumping illegally to finance buying some stuff from a few nations who will remain nameless but who didn't support the US position.
Ay..off topic I went...
OPEC has openly stated that they are curtailing production to keep wholesale prices artifically high, generating more profit for them. Look at it this way, if any companies in the US did the same thing, they would be investigated under anti-trust laws.. What I don't understand is why the retail price is so much higher now than 1997 when wholesale prices hit about the same mark? Where's the profit padding now?....
hungrymonkey said:
I did HM. I'm not saying we didn't get oil that originated in Iraq. The only thing I am saying is that I don't think we contracted directly with Iraq for their oil. I know back in 2001 Iraq accused the US and UK of blocking close to 1900 contracts (over $1 billion) with foreign countries under the OFF program in the period from 98-2001, can't imagine they would have offered the US contracts during the same period. I will admit that most of my involvement with the program was analyzing foreign contracts with Iraq to see if we should approve or deny it as a member of the Security Council, so possibly we did contract directly. I just don't have the stomach to go back and look over the long list of contracts to see if we did get it directly or from another country who did.