"War for oil"... maybe we were wrong?

[240 is Back]

if China and Russia and friends end up winning control of the oil fields, won't it be awkward with our bases surrounding them? 


Iraq launches historic oil and gas auction

By Missy Ryan

BAGHDAD, June 30 (Reuters) - Iraq will auction off eight giant oil and gas fields on Tuesday in its first major tender since 2003, giving oil firms a foothold in a country that may hold some of the world's largest untapped energy reserves.

Private jets flew representatives from leading global firms like Exxon Mobil and Total into Baghdad, a city still ringed by blast walls and gripped by violence, to place their bids for the 20-year development contracts.

The companies are wading into a morass of controversy surrounding the deals, which some Iraqi lawmakers condemn as illegal and which even some within the state-run oil industry have criticised for selling Iraq's vast oil wealth short.

...

The auction, delayed by a day by a sandstorm, will be broadcast live from a hotel in Baghdad's fortified Green Zone in a process Iraqi oil officials insist will be fully transparent.

Firms from the countries that launched the 2003 invasion, which triggered years of chaos and bloodshed, will be neither favoured nor disadvantaged, they say.

[Hugo Chavez]

Am I missing something?  Doesn't this make it look like it's a war for oil?  Will anyone, even China be able to outbid the Exxon Mobils?  I always knew oil was a factor but never personally thought it was the main purpose of the war.  If not Big Oil, some controlled interest will win and sit on the oil.  What we won't see is the upper workings of why but the reason will be the same as in the past.

[Hugo Chavez]

You know what would be really priceless... A surpise winning bid from Hugo Chavez   Bush would be like, D'oh!  won't happen but funny thought.

[headhuntersix]

Yeah..except Hugo has to secure it. There won't be much help from US troops.

[bears]

Am I missing something?  Doesn't this make it look like it's a war for oil?  Will anyone, even China be able to outbid the Exxon Mobils?  I always knew oil was a factor but never personally thought it was the main purpose of the war.  If not Big Oil, some controlled interest will win and sit on the oil.  What we won't see is the upper workings of why but the reason will be the same as in the past.

its going to bring about 1.5 trillion dollars into the iraqi economy over the next 20 years.  why do you think exxon mobil will be able to outbid everybody?  there are about 15 oil companies in the world from russia, nigeria, kuwait, venezuela, etc. who are all bigger and stronger than exxon mobil.  iraq has never allowed the market to determine the price that they should get for their oil.  they are now going to allow the market to set prices by having this auction.  i think its a step in the right direction. 

[Hugo Chavez]

Yeah..except Hugo has to secure it. There won't be much help from US troops.

You mean if Hugo won it, the bases would close?  That's even funnier!  I mean that was how 240 posed the irony.  Bases around the fields owned by X....

[Hugo Chavez]

its going to bring about 1.5 trillion dollars into the iraqi economy over the next 20 years.  why do you think exxon mobil will be able to outbid everybody?  there are about 15 oil companies in the world from russia, nigeria, kuwait, venezuela, etc. who are all bigger and stronger than exxon mobil.  iraq has never allowed the market to determine the price that they should get for their oil.  they are now going to allow the market to set prices by having this auction.  i think its a step in the right direction. 

I'm not a guru on the matter but I thought Exxon was the biggest.  Can you prove otherwise.  15 companies bigger than Exxon?  Really? If I'm wrong, sorry my bust, I haven't researched it seriously.

[Hugo Chavez]

I'm a dummy on this stuff, but what does "World's Biggest Company" mean? lol

Exxon Overtakes PetroChina as World's Biggest Company (Update4)
http://www.bloomberg.com/apps/news?pid=20601087&sid=avnLdfTusrwQ&refer=home


2008 $461 billion 

[Fury]

Interesting how the "reason" for this war changes every day with you clowns. Oil, Imperialism, Israel, spreading democracy, yahta yahta.

It's a war about oil. Those fields are nice, but methinks they'll probably be going the route of the Nigeria pipelines for a while. Not that Exxon isn't capable of outbidding all of those companies anyway.

[Hugo Chavez]

Interesting how the "reason" for this war changes every day with you clowns. Oil, Imperialism, Israel, spreading democracy, yahta yahta.

It's a war about oil. Those fields are nice, but methinks they'll probably be going the route of the Nigeria pipelines for a while. Not that Exxon isn't capable of outbidding all of those companies anyway.

what change are you talking about.  Many were talking oil at the start, and is this thread not about oil?  WTF are you talking about BF?  Oil was probably a factor in the war.  I see no reason to believe it should be considered the only factor, do you?

[Fury]

what change are you talking about.  Many were talking oil at the start, and is this thread not about oil?  WTF are you talking about BF?  Oil was probably a factor in the war.  I see no reason to believe it should be considered the only factor, do you?

I'm just amused at how the reason for this war changes every time someone feels like pushing an agenda. One week it's for oil. Next it's for American imperialism. Next week it's about obeying our Israeli masters. The next it's about Bush's legacy.

I personally think it was an oil war. And I won't be surprised when Exxon wins the bids to most of these fields. Not that they're going to be worth anything for a while. They'll probably start bombing them like the Nigerian extremists have been doing down there for the last five years.

[Hugo Chavez]

I'm just amused at how the reason for this war changes every time someone feels like pushing an agenda. One week it's for oil. Next it's for American imperialism. Next week it's about obeying our Israeli masters. The next it's about Bush's legacy.

I personally think it was an oil war. And I won't be surprised when Exxon wins the bids to most of these fields. Not that they're going to be worth anything for a while. They'll probably start bombing them like the Nigerian extremists have been doing down there for the last five years.

I can't believe you were not aware that all those reasons you've mentioned were all right there from the start.  Oil, Imperialism and Israel, being main ones... It's been talked about at length for years with all those items coming up.  Nothing has changed from what I see. 

[Fury]

I can't believe you were not aware that all those reasons you've mentioned were all right there from the start.  Oil, Imperialism and Israel, being main ones... It's been talked about at length for years with all those items coming up.  Nothing has changed from what I see. 

You're having an incredibly hard time comprehending what I'm saying.

[Hugo Chavez]

You're having an incredibly hard time comprehending what I'm saying.

I guess I am....

"One week it's for oil. Next it's for American imperialism. Next week it's about obeying our Israeli masters."

What didn't I understand about that.  I said these reasons have all been right there from the start and you've saying it's a constant change.  What did I miss?

[bears]

I'm a dummy on this stuff, but what does "World's Biggest Company" mean? lol

Exxon Overtakes PetroChina as World's Biggest Company (Update4)
http://www.bloomberg.com/apps/news?pid=20601087&sid=avnLdfTusrwQ&refer=home


2008 $461 billion 

http://www.petrostrategies.org//Links/worlds_largest_oil_and_gas_companies.aspx

i think what you're looking at has to do with the market value of it's shares.  this link shows the biggest oil companies by how much they produce and/or sell. 

basically what im saying is that the U.S. ain't guaranteed anything.  if someone is willing to pay more.  they will win.  The U.S. has to outbid the other gas companies.

"The Iraqi government originally tried last year to award oil fields to Western companies through a no-bid process. That prompted objections from a group of United States senators, who wanted greater transparency, and the plan was replaced with the auction, which had the effect of letting Chinese companies play a much larger role."

from the New York Times. 

again i think the U.S. is handling this the right way.  it is in our best interests to have the Iraqi economy turn around.  By allowing the market to determine prices and supply, we are doing just that. 

[Hugo Chavez]

http://www.petrostrategies.org//Links/worlds_largest_oil_and_gas_companies.aspx

i think what you're looking at has to do with the market value of it's shares.  this link shows the biggest oil companies by how much they produce and/or sell. 

basically what im saying is that the U.S. ain't guaranteed anything.  if someone is willing to pay more.  they will win.  The U.S. has to outbid the other gas companies.

"The Iraqi government originally tried last year to award oil fields to Western companies through a no-bid process. That prompted objections from a group of United States senators, who wanted greater transparency, and the plan was replaced with the auction, which had the effect of letting Chinese companies play a much larger role."

from the New York Times. 

again i think the U.S. is handling this the right way.  it is in our best interests to have the Iraqi economy turn around.  By allowing the market to determine prices and supply, we are doing just that. 

Isn't that racking up how much oil they have?  Estimated reserves and all that.  As far as profit and what the company is worth, Exxon tops out on the list doesn't it?  From what I see this means that Exxon can afford to put up a bigger bid if they want.

[bears]

Isn't that racking up how much oil they have?  Estimated reserves and all that.  As far as profit and what the company is worth, Exxon tops out on the list doesn't it?  From what I see this means that Exxon can afford to put up a bigger bid if they want.

well i guess we'll have to wait and see.  i will agree with you if this all shakes out that U.S. companies take the lions share.  but i dont think thats gonna happen.  and i guess the only sale so far was won by BP/CNPC.  Exxon backed out because the fees were too high. So they lost 1 bidding war anyway. and that was for the biggest oil field Iraq has.  Here's the link that i got this from.
http://www.usatoday.com/money/industries/energy/2009-06-30-oil-auction_N.htm?csp=34

[Hugo Chavez]

well i guess we'll have to wait and see.  i will agree with you if this all shakes out that U.S. companies take the lions share.  but i dont think thats gonna happen.  and i guess the only sale so far was won by BP/CNPC.  Exxon backed out because the fees were too high. So they lost 1 bidding war anyway. and that was for the biggest oil field Iraq has.  Here's the link that i got this from.
http://www.usatoday.com/money/industries/energy/2009-06-30-oil-auction_N.htm?csp=34

HUH?  I didn't say that's going to happen.  I'm saying they're in a position to make that happen if they want.  No doubt about it, they have the ability to put down the winning bid if they want.  As I said above, what will probably happen is a controlled interest will win and they will sit on it.

[Dos Equis]

lol @ the title of this thread.   

[bears]

HUH?  I didn't say that's going to happen.  I'm saying they're in a position to make that happen if they want.  No doubt about it, they have the ability to put down the winning bid if they want.  As I said above, what will probably happen is a controlled interest will win and they will sit on it.

ok.  but they lost the bidding war on THE biggest oil field in Iraq already.  bottom line is they wanted it but the cost was too much for them.  BP hooked up with the chinese and they took it.  so your question is answered.  they are obviously NOT in a position to put down a winning bid.

[shootfighter1]

If the war was only about oil, U.S. companies would have a no competition purchase of the fields, that is obviously not happening.

[bears]

Am I missing something?  Doesn't this make it look like it's a war for oil?  Will anyone, even China be able to outbid the Exxon Mobils?  I always knew oil was a factor but never personally thought it was the main purpose of the war.  If not Big Oil, some controlled interest will win and sit on the oil.  What we won't see is the upper workings of why but the reason will be the same as in the past.

China did outbid Exxon Mobil for control of the biggest oil field in Iraq.  

[Hugo Chavez]

China did outbid Exxon Mobil for control of the biggest oil field in Iraq.  

What, just now?  Link?

[bears]

If the war was only about oil, U.S. companies would have a no competition purchase of the fields, that is obviously not happening.

yup.

[bears]

What, just now?  Link?

yeah it was in the link i gave you before

here

http://www.usatoday.com/money/industries/energy/2009-06-30-oil-auction_N.htm?csp=34