U.S. to begin selling Iraqi oil for $50 per barrel

Ok -- now the catch... the source for this is halturnershow.com...

I will say he was talking about food shortages/riots before I started seeing things pop up in the news and at ATS... only caught his show twice, so please people, do not label me a racist. I am far from it. Here's the entire write-up to save you from going there if you wish not to. He usually gives a link to his source, but there is not one with this "article"

And this seemed the logical place to post -- please move if deemed appropriate elsewhere.

"********* BREAKING NEWS *********
U.S. TO BEGIN SELLING IRAQI OIL FOR $50 PER BARREL TO EARN BACK WAR COSTS AND FORCE OPEC TO DRIVE DOWN PRICES
ALL IRAQI PIPELINES AND PRODUCTION FACILITIES SAID TO BE COMPLETELY PROTECTED AND READY TO PUMP!
The U.S. is going to offer the oil to companies on the condition they agree to sell refined products in the US and Iraq-war-coalition countries ONLY, at about half price we're paying now.

In addition, contracts for this half-priced oil will NOT be "let" through any Mercantile or Commodity Exchange or Oil Bourse where speculators drive-up oil prices to enrich themselves! The sales will be done directly between the US and Oil Companies.

Iraqi oil output is presently around 2.7 million barrels per day (bpd) and, according to sources familiar with this change, the US expects output to be at 3 Million bpd very soon.

Having that much cheap oil pouring into the biggest customers it is thought, will force OPEC to bring down prices or face losing a very large chunk of the biggest oil markets."



==============
Mod Edit: All Caps – Please Review This Link.

[edit on 8-4-2008 by Gemwolf]

Interesting if true. If we accept cheaper oil, thru this, will we also be accepting that the war was worth it? That the government was right in invading Iraq?

Originally posted by Blueracer
Interesting if true. If we accept cheaper oil, thru this, will we also be accepting that the war was worth it? That the government was right in invading Iraq?

What is also funny is that we would be accepting this as "Cheap Oil", thus making the war "worth it". Even though, oil was trading for roughly $30 a barrel before the war.

So, thanks a lot BushCo. You are our saviours.

Originally posted by RabbitChaser
Iraqi oil output is presently around 2.7 million barrels per day (bpd) and, according to sources familiar with this change, the US expects output to be at 3 Million bpd very soon.

Having that much cheap oil pouring into the biggest customers it is thought, will force OPEC to bring down prices or face losing a very large chunk of the biggest oil markets."

This story ties together a lot of recent head-of-state diplomatic missions and other news stories...

There are plans to reopen the oi pipeline route from the Kirkuk oilfields in Northern Iraq to Rutba and on to Ashkelon in Israel, crossing Jordanian and Syrian territories which would enable that 3million barrels per day to be exported to terminals in the most efficient way



This would explain also two other angles...

The recent flurry of diplomatic visits by Cheney and Bush to Israel, Syria, and Saudi Arabia (amongst others)

The 'surge' by the US military in Iraq in the northern regions to secure the oilfields and export pipelines from both insurgent and PKK forces attack

Also, if we take a look at a larger view of the oil-transit routes across the M.E. and Europe:



You can see the oil routes that cross the Ukraine, Bulgaria and Macedonia which again would account for the recent news stories about these nations being invited to join either the EU or NATO to to allow the proposed oil lines to be built across those territories

If they do this, they would just be stealing from the iraqi people. Do they have any right to sell iraqi oil for half price.

If this story is true, shows how iraqi people are being more shafted.

Originally posted by RabbitChaser

' BREAKING NEWS '
U.S. TO BEGIN SELLING IRAQI OIL FOR $50 PER BARREL

The U.S. is going to offer the oil to companies on the condition they agree to sell refined products in the US and Iraq-war-coalition countries ONLY, at about half price we're paying now.

Having that much cheap oil pouring into the biggest customers it is thought, will force OPEC to bring down prices ...."

The not-so-hidden point that makes this proposition a red herring
is that the multi-national oil companies , mostly anglo-american ,
will once again make out like bandits...


Big oil in spite of their huge profits have long standing subsidies in place right now, & these oil refiners will not pass along any 50% price reduction to the coalition economies.


OPEC does not set oil prices, all OPEC & Saudi can do is increase the production....
which was the reason for the Cheney visit to the Gulf Kingdoms, as reported by the MSM.
So, putting 100% of Iraqi oil in coalition markets (which would be impossible) would only disrupt the current supply chain by perhaps 10%




i'd say this story is a wishfull thinking exercise or an April Fools pull-your-leg thing

I hope this is true. The Iraqi government has been trying to make weapons buys on the black market and they refuse to straighten out their country so lets take the oil for payback and leave. Congress has been complaining that they have not helped us one bit with their oil revenues when rebuilding that hole is costing us a fortune.

it's all about supply and demand, greedy traders are playing a major role, but in the case with Oil also depended on the Dollar currency strength and other political issues, Iraqi oil might only increase the supply side, question is if these oil refineries who get these relatively "cheap oil" will be giving this "lower average costprice" back to the consumers or keep this as an "extra profit" in their pockets.

Well, it's about time!

One apparently forgotten aspect of the Iraqi war was that we were to be 'reimbursed' for the war expenses via Iraqi oil. This also couldn't come at a better time, right at the outset of a major fuel crisis.

I hope this attempt is not only true, but that it works. Oil prices may have been $30 a barrel when the war began, but $50 is still better than $111. To the naysayers who are concerned that this is somehow a way to make the Iraqi war 'worth it', grow up. Which is more important: the continued prosperity and security of your country, or the ability to crow about how right you were?

TheRedneck

Of course, someone will always take a different stance...

Are you prepared to pay $8 a gallon at the pump?
www.sltrib.com...

"I can think of three factors.
First, the enormous international demand for oil, not only in the United States, Europe and Japan, but also increasingly in China, India and other parts of the world. Tight supplies barely satisfy the global thirst for oil.
We have three solutions: (1) increase oil production; (2) switch to other energy resources; (3) decrease our demand for oil. The first two options would take years. So the immediate solution is to decrease our consumption of oil."

And this guy... www.politicalgateway.com...

" Gold, silver, and Oil will bankrupt many as it drops to the floor, bringing dumb investors to their knees. Oh yea, oil is gonna go to two hundred you say. Hey, it is your money, go ahead and gamble it like a moron. It will start dropping back down on its way to 34 bucks a barrel by year's end (it will eventually get to 34, not at years end, but heading towards it on its way down.) As for gold and silver, if you buy it now you are really stupid." -- Bob Hoffman

I am curious what makes Mr Hoffman so sure that oil will drop back into the 30's by the end of the year. I am merely an observer, but I just can't fathom oil reaching those levels with Bush still in office and war still in the Middle East.

I would love for it to happen, but I have zero faith.

Originally posted by Karlhungis
I am curious what makes Mr Hoffman so sure that oil will drop back into the 30's by the end of the year.

Hello Karl -- the thing that gives a little weight to what he says regarding the future, imo, is these two articles he wrote in 2005...

5/05 -- www.politicalgateway.com...

12/05 -- www.politicalgateway.com...

Of course, there will always be so many differing opinions at any given time that one person is bound to be right.

reply to post by RabbitChaser


Well he definitely hit the nail on the head with the housing bubble, but that one made sense at the time. I remember feeling the same way back then and I would have agreed with his assessment of the situation. I still can't get my mind around the logic of the oil bubble bursting so soon. I whole-heartedly hope that he is correct, but it doesn't make sense to me.

We'll see what happens. Thanks for providing those links.

I couldnt see why the Iraqi's would sell us oil for $50 a barrel when they can put it on the market for $100. Why would they do that when its 80% of their federal revenue right now. If it was cut in half they would be start running a deficit when even now they dont spend all their money( now that BS is a whole diff discussion). It makes no sense.

$34, I dont think so. Wheres this oil coming from? or when is this sudden reduction in consumption coming from? Supply vs demand alone will keep the price above $34. OPEC has about 2m b/d of available pumping capacity above what they pump now. If they turned that on and the Iraqi's increased their output as planned, it would make a small dent. Not to mention consumption in OPEC nation increasing and output decreasing.

I hope I'm wrong and havent run across the right evidence yet but it seems like 2 fairytales to me. Two fairytales that if come true, will greatly help the US in a time it could use some help.

reply to post by SenHeathen


According to some peoples opinions, it's not even the Iraqi's oil to sell...

www.abovetopsecret.com...

Another thread posted in my reply there which gives my opinion on his issues.

I do have to agree with you guys, I feel the bottom dropping out of oil is a bit of a stretch.

Buy a govnerment, make it attack a country (make money on it), once the country's destroyed, rebuild it (make money on it), steal it's oil and sell it (make money on it) and let's call that a "payback" while we're at it....good plan Joe !!

Seriously, it's time to ask...Who's Fooling Who....in the Zoo.

Looted Oil from Iraq costs only US$0.60 per barrel...so why are we all paying so high prices to play the Peak Oil Game.

The Myth Of Peak Oil Peak oil is a scam designed to create artificial scarcity and jack up prices while giving the state an excuse to invade our lives and order us to sacrifice our hard-earned living standards.

Globalization is all about consolidation. Now that the world economy has become so centralized through the Globalists operations, they are going to continue to consolidate and blame it on the West's "evil" overconsumption of fossil fuels, while at the same time blocking the development and integration of renewable clean technologies.

In other words, Peak oil is a scam to create artificial scarcity and drive prices up. Meanwhile, alternative fuel technologies which have been around for decades are intentionally suppressed.

Peak oil is a theory advanced by the elite, by the oil industry, by the very people that you would think peak oil would harm

www.prisonplanet.com...

reply to post by TheRedneck


Actually if this is true is only going to boost the terrorism in the middle east against the thieves of the Iraqi wealth.

No is not good and is going to bring another wave of very unhappy Arabs against the US.

So how much blood is that gas going to be worth?

reply to post by Blueracer


The reason that US is such a bad shape right is because of the war... so no it wasn't a good idea invading Iraq!

It's ALL B.S.

Here's some FACTS to consider:

1) We went to Iraq because sadaam was going to squeeze the U.S. out of OIL by making deals with CHINA, FRANCE and RUSSIA. The Ink was laid down but hadn't dried yet!
Had this come to pass the U.S couldn't attack without going to war with these other nations! Bush "Had" to act quickly.

2) The U.S. has strategic oil plans in Afghanistan and the U.S. presence in Iraq made sure we had the muscle in place if Russia decided to defend "it's own interests!"

3) The U.S. Oil companies were looking for the price of oil to rise dramatically so they could afford to explore and drill domestic oil resources.

1999 a U.S. geologist provided a write up on the willistin basin in the central U.S., he died shortly after.

His papers were held by the USGS for 9 years and they "refused" to release anything on them until NOW. This has been in the news since early April because the Bakken reservoir(in the williston basin), as he calculated, holds more oil than Saudi Arabia.

In the 80's and 90's the U.S. Gov purchased a lot of the oil bearing lands in the U.S. and kept the facts about our national reserves out of the news!

Do the math people, if The people of the U.S. KNEW we were sitting on oil reserves greater than that in Saudi Arabia they would never been held hostage by opec during Bush's time in office.

How good "IS" your memory really?

Before "Peak oil" and OPEC were the scape goats for the price of oil, it was burning refineries, then hurricanes and "everyone" bought into these B.S. excuses, then it became OPEC's fault and finally opec and Peak oil.

Meanwhile the big 3 oil companies are raking in over $124 BILLION DOLLARS of PURE PROFIT per year.

IF BUSH ALLOWED OIL TO BE SOLD AT $50 BBL HE WOULD BE SHOOTING BIG U.S. OIL IN THE BACK, that's not likely to happen since he will be riding that wave when he get's out of office, along with Dick Cheney and Condoleza Rice.

4) OPEC would retaliate by lowering their prices and making their sales to CHINA, INDIA, RUSSIA and the M.E. dynamics would change drastically.

THE ONLY THING that would prevent #4 from occurring is "IF" Bush's relationship with the Saudi family really is his meal ticket

Originally posted by RabbitChaser
Ok -- now the catch... the source for this is halturnershow.com...

I will say he was talking about food shortages/riots before I started seeing things pop up in the news and at ATS... only caught his show twice, so please people, do not label me a racist. I am far from it. Here's the entire write-up to save you from going there if you wish not to. He usually gives a link to his source, but there is not one with this "article"

And this seemed the logical place to post -- please move if deemed appropriate elsewhere.

"********* BREAKING NEWS *********
U.S. TO BEGIN SELLING IRAQI OIL FOR $50 PER BARREL TO EARN BACK WAR COSTS AND FORCE OPEC TO DRIVE DOWN PRICES
ALL IRAQI PIPELINES AND PRODUCTION FACILITIES SAID TO BE COMPLETELY PROTECTED AND READY TO PUMP!
The U.S. is going to offer the oil to companies on the condition they agree to sell refined products in the US and Iraq-war-coalition countries ONLY, at about half price we're paying now.

In addition, contracts for this half-priced oil will NOT be "let" through any Mercantile or Commodity Exchange or Oil Bourse where speculators drive-up oil prices to enrich themselves! The sales will be done directly between the US and Oil Companies.

Iraqi oil output is presently around 2.7 million barrels per day (bpd) and, according to sources familiar with this change, the US expects output to be at 3 Million bpd very soon.

Having that much cheap oil pouring into the biggest customers it is thought, will force OPEC to bring down prices or face losing a very large chunk of the biggest oil markets."



==============
Mod Edit: All Caps – Please Review This Link.

[edit on 8-4-2008 by Gemwolf] [/quot