[Marxism] Keeping Iraq's Oil In the Ground

["Darrel Furlotte" <darrel.furlotte@xxxxxxxxx>]

This article should have D.S.,rrubinelli, sartesian crowing: "I've been telling 
you so!" about peak oil. .

The strong point of Palast's thesis is that it explains all of the 
"incompetence" of the U.S. occupation. In an earlier article on this subject he 
made the point that at current oil pices  the reserves of just one company, 
Exxon/Mobil, had increased in value by a TRILLION dollars.

Darrel


Keeping Iraq's Oil In the Ground

By Greg Palast, AlterNet. Posted June 14, 2006.

Did the U.S. invade Iraq to tap its oil reserves or to make sure they stayed 
under the sand? 


World oil production today stands at more than twice the 15-billion a-year 
maximum projected by Shell Oil in 1956 -- and reserves are climbing at a faster 
clip yet. That leaves the question, Why this war?

Did Dick Cheney send us in to seize the last dwindling supplies? Unlikely. Our 
world's petroleum reserves have doubled in just twenty-five years -- and it is 
in Shell's and the rest of the industry's interest that this doubling doesn't 
happen again. The neo-cons were hell-bent on raising Iraq's oil production. Big 
Oil's interest was in suppressing production, that is, keeping Iraq to its OPEC 
quota or less. This raises the question, did the petroleum industry, which had 
a direct, if hidden, hand, in promoting invasion, cheerlead for a takeover of 
Iraq to prevent overproduction?

Full article:  http://www.alternet.org/waroniraq/37371/
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