Iran says discovers oil field in its southwest

Iran says discovers oil field in its southwest

www.iht.com

Iran has discovered a new oil field holding an estimated 233 million barrels of recoverable sweet oil, Oil Minister Gholamhossein Nozari said on Sunday.

The field, which has in-place reserves of 1.1 billion barrels, lies in the oil-rich southwestern province of Khuzestan, north of the city Andimeshk, state television quoted Nozari as saying.

Iran, the second-largest producer of the Organisation of the Petroleum Exporting Countries (OPEC), two months ago put its oil reserves at around 136 billion barrels.

(visit the link for the full news article)

Just thought this is interesting in light of the current tension going on. It only reafirms my opinion that there is not currently any shortage of oil. Oil is plentiful and there are, and will continue to be, many new discoveries in the future.

The gloom and doom of oil running out anytime soon (if ever) is a complete sham.

www.iht.com
(visit the link for the full news article)

Hmmm... this might explain the reason for the US talks with Iran.

Yes, it does seem like the Oil shortage was a profiteering scam - this was pretty obvious all along tho.

reply to post by Dermo


Yeah, those OPEC nations are rubbing their hands with greed. Especially when the Iranian President was asking for 120+ per barrel. Greedy bastard.

reply to post by deltaboy


If you don't like the high prices, support other countries that want barrels of oil to be priced with another currency, other than dollars. If inflation on the dollar goes up, the price of oil goes up, because of the dollar.

Back on topic, I think this news will only further support for war with Iran. Bush wanted to profit off Iraqi oil, as a means to financially support its invasion, and now he will see a new opportunity to make up for the loss in profits, by invading Iran.

I wonder if Iranians have to worry about their government restricting access to oil like we do here in the United States? Of course not, they are probably putting together plans for drilling as we speak!

Why do we handcuff ourselves like that? Every other day countries are announcing major oil finds, and we know we have proven oil areas and are restricted from it.

End the Pelosi Premium now!

reply to post by deltaboy


have you been living under a rock or something? or just reading what matches your agenda and not what is happening?

the high oil prices are a direct result of 2 things - wall street speculation with futures money making and greed ; and the collapse in value of the US $ - its nothing to do with OPEC - for 18 months they have been saying the same thing - why is the price climbing when theres nearly too much oil on the market?

Originally posted by Dermo
Hmmm... this might explain the reason for the US talks with Iran.

Yes, it does seem like the Oil shortage was a profiteering scam - this was pretty obvious all along tho.

and yet all the american people took it like they had no choice

in order to make change we need to stand up and say stop, what the f is going on here and why

really shake their wallets by not buying into it

Originally posted by DJMessiah
Bush wanted to profit off Iraqi oil, as a means to financially support its invasion, and now he will see a new opportunity to make up for the loss in profits, by invading Iran.

I've never understood why so many people think this. Any war with Iran will most likely be limited to a bombing campaign. As far as I know, there has never been any serious talk of an invasion. If we do indeed start the war, oil will be more likely to stop flowing. Regardless, oil prices worldwide will skyrocket. How do you suppose the US is going to profit from Iran's oil production in this scenario? Oil companies may profit from the inflated prices which will occur, but the US will be screwed from an economic standpoint.

reply to post by Harlequin


Uh no, remember that the Iranian president was demanding for 120+ barrels for many years now. He wanted it in fact! Now with intense pressure hes blaming it on conspirators, which would include himself since he was asking for it in the first place. I have posted such articles of him mentioned that he wanted it. And also with high demand from China and India, supply situation will not meet that demand.

Not to mention that oil is being use as a weapon.

In June 2006, Iran's oil minister cautioned, "If the country's interests are attacked, we will use all our capabilities, and oil is one of them." Perhaps most alarming are the remarks of Iran's Supreme Leader Ayatollah Ali Khamenei in the same month: "If the Americans make a wrong move toward Iran, the shipment of energy will definitely face danger, and the Americans would not be able to protect energy supply in the region."

Its just like the Arab nations to do that like they did back in the 70s by punishing the U.S. support of Israel. Indeed maybe thats Iran's intent. Push the price of oil to punish the U.S. for any possible threat to the Persian state.

Even Osama Bin Laden was demanding it.

reply to post by SystemiK


How do you expect us to finance the war? We've already borrowed more than we can pay back, and we're not making a profit off the Iraqi oil.

reply to post by RRconservative


Iran rations its oil supprsingly
since it lacks the infrontstructure to refine the oil for domestic use due to sanctions on parts

so even so americans and the rest of us pay less
we dont have to worry about rationing of oil in the UK/US and so on.

Originally posted by DJMessiah
reply to post by SystemiK

 

How do you expect us to finance the war? We've already borrowed more than we can pay back, and we're not making a profit off the Iraqi oil.

I don't understand your question. What I expect is that sanity prevails and there is no war with Iran at all.

Originally posted by SystemiK

Iran says discovers oil field in its southwest

www.iht.com

Iran has discovered a new oil field holding an estimated 233 million barrels of recoverable sweet oil, Oil Minister Gholamhossein Nozari said on Sunday.

(visit the link for the full news article)

And current oil consumption is 85 million barrels a day.

So thats less than 3 days supply, its not really going to make much difference is it !

Or to look at it another way...as long as someone in world discovers and oil field that big every 3 days, we will be fine.

[edit on 17-7-2008 by Frobnicate]