Former UK oil adviser warns against early exit from Iraq

Barrett808

(1000+ posts) Send PM | Profile | Ignore

Tue Dec-20-05 12:31 PM
Original message

Former UK oil adviser warns against early exit from Iraq

The British oil advisor to the former Coalition Provisional Authority in Baghdad warned Monday against any UK or US plans for an early withdrawal of troops from Iraq because of the security of the country's vital oil supplies.

"I am surprised how quickly some of the key strategic issues for the Iraq war have been subsumed within the rush to implement an early exit strategy for the coalition," T D Adams said.

He said that the critical post-war aim was to create social stability across Iraq as quickly as possible and would depend primarily on early rehabilitation of the country's oil sector.

"The security of Iraq oil was and remains a crucial element in the stability of global oil supplies," the advisor warned in reference to OPEC countries in the Persian Gulf region supplying some 30 percent or more of global oil demand.

In a letter to the Times newspaper Monday, he said that political stability in the Arab states of the Persian Gulf was "no less fragile" that before the 2003 Iraq war.

"To abandon Iraq as a potentially failed state should be unthinkable," Adams warned, raising the global consequence if oil supplies from Arab states were cut.

"It is in the national interests of the coalition members to remain in Iraq until such time as social security has been secured.

An early exit strategy from Iraq is not a viable option," he said.

http://www.irna.ir/en/news/view/menu-234/0512199361151325.htm

Printer Friendly | Permalink | | Top

Clara T

(1000+ posts) Send PM | Profile | Ignore

Tue Dec-20-05 01:19 PM
Response to Original message

1. Pretty straightforward "War for Oil"

By the way Shell oil hasn't had any new "discoveries".

Shell Lacks Oil Sources, Merrill Says, Telegraaf Reports

Dec. 10 (Bloomberg) -- Royal Dutch Shell Plc isn't succeeding in finding enough new sources of oil, according to Robin Batchelor, a fund manager at Merrill Lynch & Co., De Telegraaf newspaper reported.

Batchelor, who heads the $3.7 billion World Energy Fund, sold all of his shares in Shell last year after the company overstated its oil reserves, the newspaper said.

Batchelor said he isn't planning on buying Shell stock ``anytime soon,'' the paper reported. Calls to Batchelor at his office today weren't immediately returned.

``State geological surveys, academia and industry have identified that globally there are still hundreds of billions of barrels of conventional oil and gas to be found,'' Bernadette Cunnane, a spokeswoman for Shell in London, said today. Exploration ``remains a cost effective and worthwhile ways of adding resource volumes,'' she said.

http://www.bloomberg.com/apps/news?pid=10000102&sid=a7S5hMwQyGUc&refer=uk

Shell spending to rise as costs soar
Tue Dec 13, 2005 2:07 PM GMT

By Tom Bergin

LONDON (Reuters) - Royal Dutch Shell will increase planned investments 27 percent to around $19 billion (11 billion pounds) next year as costs soar and the group tries to turn round its industry-lagging record for finding new oil.

The Anglo-Dutch group (RDSa.L: Quote, Profile, Research)(RDSb.L: Quote, Profile, Research), the world's third-largest listed oil firm by market capitalisation, said on Tuesday its capital investment budget for 2006 would be $19 billion, up from earlier estimates of around $15 billion.

Chief Financial Officer Peter Voser told reporters on a conference call that beyond 2006, the firm was likely to invest "at least" $19 billion annually.

Investors fear the higher spending plans will reduce the amount of cash available to distribute to them in dividends and share buybacks.

http://investing.reuters.co.uk/investing/financeArticle.aspx?type=stocksNews&storyID=2005-12-13T140833Z_01_NOA328064_RTRUKOC_0_ENERGY-SHELL.xml

Printer Friendly | Permalink | | Top

Benhurst

(1000+ posts) Send PM | Profile | Ignore

Tue Dec-20-05 03:15 PM
Response to Original message

2. Yeah, you don't want to be like the

burglar who leaves his tools and stolen goodies behind.

Printer Friendly | Permalink | | Top

Clara T

(1000+ posts) Send PM | Profile | Ignore

Wed Dec-21-05 11:20 PM
Response to Original message

3. kick

Printer Friendly | Permalink | | Top

Maggie_May

(1000+ posts) Send PM | Profile | Ignore

Wed Dec-21-05 11:34 PM
Response to Original message

4. Don't worry your pretty head UK Iran will take care of all that oil.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Sun May 12th 2024, 11:47 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.