Iraq Threat to North Sea

[Barrett808]

THE aftermath of the Gulf War could end the North Sea oil industry in just 10 years, a report has warned.

Multi-national companies are being lured to rich oil fields in Iraq -but smaller independent firms are finding it too expen-sive to explore the North Sea. Jake Malloy, of oil workers' union OILC, who published the report, said: ``Oil in Iraq is cheap and accessible. Big companies are selling up in the North Sea and looking at the reserves in the Gulf.''

http://www.sundaymail.co.uk/news/content_objectid=13405364_method=full_siteid=86024_headline=-IRAQ%2DTHREAT%2DTO%2DNORTH%2DSEA-name_page.html

[oneighty]

1. Oil

has nothing to do with the invasion of Iraq. Oil has nothing to do.........

180

[kalian]

2. But of course....

the war in Iraq was NOT about OIL...so stop saying that (/sarcasm off)

[Whoa_Nelly]

3. WHAT?!?!?!

There's oil in Iraq???? I thought there were only people who needed herding and directing to a better life!
</sarcasm>

[Jacobin]

4. Oil in Iraq "cheap and accessible"?

What are they smoking?

You have to have an armed militia to go drill a well, and convoys to bring in the rig, drill pipe, drilling mud, supplies and workers.
They are under constant attack and will be until they are run out.

What a crock of delusional crap. That may have BEEN their wet dream, but reality is a bitch.

[glitch]

9. it is cheap for them, they don't pay the costs - taxpayers do nt

[htuttle]

5. North Sea oil is running out

The production has declined so much in the last decade that they've had to consider finding another benchmark crude (ie., a number of other locations index their own price off that of 'Brent crude'), and have added a few regions to the Brent crude 'basket' to stabilize the price index.

Here's a link in summary:
http://www.eia.doe.gov/emeu/cabs/northsea.html

[bahrbearian]

6. That how I see it.

Oil is not getting cheaper or easier to drill and export.

[hatrack]

7. What a bullshit smokescreen!

British sector oil production in the North Sea peaked in 1999. Norway's oil production peaked in 2001. These are permanent peaks, and production will not return to earlier levels.

But we can't say THAT, now can we? No, no, better by far to blame evil Iraqi oil for falling North Sea production.

[htuttle]

8. They seem to be purposely trying to make the 'cliff' we're heading towards

...as steep as possible.

It might be the most gratuitous (and probably the most calamitous) triumph of short-term greed over long-term needs in the history of our species.