Oil Prices WorldWide

[Sgt. Boomer]

=D.C.L.I=Everest Wrote:To me, that\'s one of the reasons why the Bush administration had to invade Iraq: the corporate bigwigs behind Bush benefit from a high oil price. It\'s all about the money...

Not this again :roll: .

Before the war analysts were predicting a situation similar to the first Gulf War ( pdf graph ) when prices rose, then fell back to normal immediately after the war. (Anyway, weren’t lefties saying the war was about cheap oil for the US? )

The main problem, as always, is government interference in the free market. Supply has been unable to rise with demand not because of a lack of oil reserves, but because of a vast number of idiotic governmental polices from various countries. Venezuela, Russia, Saudi Arabia, Mexico, and Canada (thanks to our Kyoto-lovin’ jack-*** of a PM :angry: ) to name a few.

The largest oil reserves in the world are in Alberta (currently a province in Soviet Canuckistan, but hopefully an independent Republic in the near future). The Alberta Tar Sands hold an estimated 2,000 billion barrels of oil, though only 300 bb is recoverable using current technology. Compare that to oil reserves for Saudi Arabia at 260 bb, and 115 bb for Iraq. The problem is a lack of (largely US) investment thanks to regulation and high taxes from successive Liberal governments for the last 25 years.

(Where did you get your info Pun? AFAIK China is around 25 bb. Though I certainly wouldn’t put past those shifty little commie rats to do what you said )