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- So you dispute Opec is pumping at max?
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"So if they can see this coming, why are they pumping at max capacity today, when they could hold the resource and sell it later for $300 a barrel, as you pointed out in your previous post?"
So by that you dispute that Opec is pumping at max? Here's the Algerian (Opec) energy minister words from March 2005:
"The AP reports that Algeria?s minister for energy and mines has said that OPEC has essentially reached its production limit. Algeria is one of the 11 members of the Organization for Petroleum Exporting Countries."
Saudi Arabia is a friend of the USA, Iraq is heavily influenced, if any of those could pump more they would. Libya has already said they are pumping at max.
Now suppose Iran turns off the taps, USA goes for some other energy source as a matter of urgent priority. They've just killed their market! So they won't do that.
What I think they might do is build up their Nuclear capacity, as the oil becomes more scarce, they'll pump it at negative energy cost. USA will have an oil based economy and will pay absolutely *anything* to get the oil. At that point Iran will have a Nuclear to Oil conversion mechanism, it will be pumping the remaining oil using Nuclear power and the oil will simply be a carrier for the nuclear 'energy'.
Thats what I think they have in mind. - Posted by: Nigel Johnstone Posted on: 08/19/05 You are currently: a Guest | Members login | Terms of Use
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