Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market

[Shaarona]

Lower prices and an oil glut may be on the distant horizon........

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market


Published January 30th, 2014

Iraq is poised to triple its crude oil output from three million barrels per day to nine million by 2020.

And Iraqi ministers are helping their Iranian counterparts to attract investment in oil ahead of the possible lifting of international sanctions imposed on the country.



Hussain al-Shahristani, Deputy Prime Minister for Energy in Iraq, told a conference in London: "We feel the world needs to be assured of fuel for economic growth.


"Iran has been in touch with us. They want to share our contracts model and experience."


The ambitious plan could see Iraq clash with Saudi Arabia - which pumps 9.8m barrels per day and uses its influence in OPEC to keep oil prices above $100 a barrel.


And if Iraq and Iran decide to sell more crude on the open market rather than stick to OPEC’s quotas, the price of oil could plummet - potentially leading to lower petrol prices.



The combined oil reserves of Iraq and Iran are greater than that of Saudi Arabia - the world’s second largest producer of crude after Russia.



Oil companies are understood to be lining up to win Iranian oil deals if sanctions imposed by the U.S. and EU are eased.


Experts warn that, if the plan is to be successful, both Iran and Iraq would need massive investment in pipelines and ports to export its crude oil.

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market | Al Bawaba

 

[Desperado]

Seems that this is a win win for the people.

 

[Shaarona]

Seems that this is a win win for the people.

If the world oil market crashes, it will really hurt the US and Canada production..

 

[Indofred]

Seems that this is a win win for the people.

If the world oil market crashes, it will really hurt the US and Canada production..

Not to worry.
The moment anything like that happened, America would find a reason to invade one of the countries and drive the price back up.
Expect another 9/11 job if it looks like it's on the cards.

 

[Shaarona]

Seems that this is a win win for the people.

If the world oil market crashes, it will really hurt the US and Canada production..

Not to worry.
The moment anything like that happened, America would find a reason to invade one of the countries and drive the price back up.
Expect another 9/11 job if it looks like it's on the cards.

LOLOL.. Maybe so.

Another aspect of this is that those who INVEST in increased production in Iran and Iraq won't want the oil market crashed.

 

[editec]

Seems that this is a win win for the people.

If the world oil market crashes, it will really hurt the US and Canada production..

Not to worry.
The moment anything like that happened, America would find a reason to invade one of the countries and drive the price back up.
Expect another 9/11 job if it looks like it's on the cards.

Its even more likely that the RUMOR has been created so that they have a plausible excuse to invade, eh?

 

[Silhouette]

Lower prices and an oil glut may be on the distant horizon........

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market


Published January 30th, 2014

Iraq is poised to triple its crude oil output from three million barrels per day to nine million by 2020.

And Iraqi ministers are helping their Iranian counterparts to attract investment in oil ahead of the possible lifting of international sanctions imposed on the country.



Hussain al-Shahristani, Deputy Prime Minister for Energy in Iraq, told a conference in London: "We feel the world needs to be assured of fuel for economic growth.


"Iran has been in touch with us. They want to share our contracts model and experience."


The ambitious plan could see Iraq clash with Saudi Arabia - which pumps 9.8m barrels per day and uses its influence in OPEC to keep oil prices above $100 a barrel.


And if Iraq and Iran decide to sell more crude on the open market rather than stick to OPEC’s quotas, the price of oil could plummet - potentially leading to lower petrol prices.



The combined oil reserves of Iraq and Iran are greater than that of Saudi Arabia - the world’s second largest producer of crude after Russia.



Oil companies are understood to be lining up to win Iranian oil deals if sanctions imposed by the U.S. and EU are eased.


Experts warn that, if the plan is to be successful, both Iran and Iraq would need massive investment in pipelines and ports to export its crude oil.

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market | Al Bawaba

What I read between the lines is:

"The Middle East is worried about green energy replacing their sweet sweet gravy train. Knowing their high prices are scaring customers into alternative fuels like hydrogen cars [their worst nightmare, since they run off sea water Fuel-Efficient-Vehicles.org | the status quo vs. Clean Energy ] they are dropping prices dramatically to lure customers back into addiction to oil. They know the scary weather patterns are also spooking people off and they want to keep their nice palaces and piles of gold instead of suddenly finding the only thing they have to offer the world, worthless and unwanted."

Yeah, that's a tough boat to be in right now as new machines that don't need Middle East crude oil are being developed all over the world.

Another threat to their industry and coal and natural gas [fracking] is concentrated solar thermal power plants. No, they are not run off of solar panels. They are run from convex mirrors focusing dangerously hot narrow concentrated rays of solar radiation onto high-temp thermal oil pipes that heat transfer to water to run turbines. The oil reaches temps of 300 degrees centigrade which is way way hotter than boiling. They produce power from turbines just like conventional boilers at nuclear, coal and natural gas plants. At night they used stored heat in molten salt tanks to run secondary generation off lower-temp boilers. Only on long stretches of cloudy days do they have to use a carbon backup source. And this is done at an unbelievable savings of consuming carbon to create energy each year. About 1/3 of our nation's real estate gets full sunshine for about 300 days a year. 300 days each year without having to burn carbon is lovely. But even if only 100 days a year you didn't have to burn carbon, wow, what a savings! And that covers just about every state in the union...

[ame=http://youtu.be/hUtXsZrPf_Q]Concentrating Solar Power Plants 1 MW- 5 MW (Fresnel Technology) - YouTube[/ame]

With hydrogen-hybrid cars and solar concentrating plants looming on the horizon, yeah, no wonder they're colluding to drop the price of oil and get some addicts back on the horse.

 

[Moonglow]

I doubt those rich little fellows would be willing to give up another blonde wife just for a political effort.

 

[R.C. Christian]

What a load of shit.

 

[theHawk]

The Green Energy Marxists like Obama won't let it happen. They want the price of oil to keep going up, so they can push their silly green energy agenda.

 

[percysunshine]

Seems that this is a win win for the people.

If the world oil market crashes, it will really hurt the US and Canada production..

Not to worry.
The moment anything like that happened, America would find a reason to invade one of the countries and drive the price back up.
Expect another 9/11 job if it looks like it's on the cards.

9/11 was about the price of oil?

Shirley, you jest.


Demand by China will drive the world price.

.

 

[Indofred]

If the world oil market crashes, it will really hurt the US and Canada production..

Not to worry.
The moment anything like that happened, America would find a reason to invade one of the countries and drive the price back up.
Expect another 9/11 job if it looks like it's on the cards.

9/11 was about the price of oil?

Shirley, you jest.


Demand by China will drive the world price.

.

Shirley, how did you know the name I use in those dodgy night clubs?
Of course I jest, 9/11 was about arms industry profits; oil was just a bonus.

 

[Shaarona]

Lower prices and an oil glut may be on the distant horizon........

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market


Published January 30th, 2014

Iraq is poised to triple its crude oil output from three million barrels per day to nine million by 2020.

And Iraqi ministers are helping their Iranian counterparts to attract investment in oil ahead of the possible lifting of international sanctions imposed on the country.



Hussain al-Shahristani, Deputy Prime Minister for Energy in Iraq, told a conference in London: "We feel the world needs to be assured of fuel for economic growth.


"Iran has been in touch with us. They want to share our contracts model and experience."


The ambitious plan could see Iraq clash with Saudi Arabia - which pumps 9.8m barrels per day and uses its influence in OPEC to keep oil prices above $100 a barrel.


And if Iraq and Iran decide to sell more crude on the open market rather than stick to OPEC’s quotas, the price of oil could plummet - potentially leading to lower petrol prices.



The combined oil reserves of Iraq and Iran are greater than that of Saudi Arabia - the world’s second largest producer of crude after Russia.



Oil companies are understood to be lining up to win Iranian oil deals if sanctions imposed by the U.S. and EU are eased.


Experts warn that, if the plan is to be successful, both Iran and Iraq would need massive investment in pipelines and ports to export its crude oil.

Beware Saudi Arabia! Iran, Iraq plan to join forces and crash the world's oil market | Al Bawaba

What I read between the lines is:

"The Middle East is worried about green energy replacing their sweet sweet gravy train. Knowing their high prices are scaring customers into alternative fuels like hydrogen cars [their worst nightmare, since they run off sea water Fuel-Efficient-Vehicles.org | the status quo vs. Clean Energy ] they are dropping prices dramatically to lure customers back into addiction to oil. They know the scary weather patterns are also spooking people off and they want to keep their nice palaces and piles of gold instead of suddenly finding the only thing they have to offer the world, worthless and unwanted."

Yeah, that's a tough boat to be in right now as new machines that don't need Middle East crude oil are being developed all over the world.

Another threat to their industry and coal and natural gas [fracking] is concentrated solar thermal power plants. No, they are not run off of solar panels. They are run from convex mirrors focusing dangerously hot narrow concentrated rays of solar radiation onto high-temp thermal oil pipes that heat transfer to water to run turbines. The oil reaches temps of 300 degrees centigrade which is way way hotter than boiling. They produce power from turbines just like conventional boilers at nuclear, coal and natural gas plants. At night they used stored heat in molten salt tanks to run secondary generation off lower-temp boilers. Only on long stretches of cloudy days do they have to use a carbon backup source. And this is done at an unbelievable savings of consuming carbon to create energy each year. About 1/3 of our nation's real estate gets full sunshine for about 300 days a year. 300 days each year without having to burn carbon is lovely. But even if only 100 days a year you didn't have to burn carbon, wow, what a savings! And that covers just about every state in the union...

[ame=http://youtu.be/hUtXsZrPf_Q]Concentrating Solar Power Plants 1 MW- 5 MW (Fresnel Technology) - YouTube[/ame]

With hydrogen-hybrid cars and solar concentrating plants looming on the horizon, yeah, no wonder they're colluding to drop the price of oil and get some addicts back on the horse.

KSA is already building concentrated thermal solar plants.... SABIC is investing in US fracking and the Saudis have developed waterless fracking.

 

[R.C. Christian]

Mu mu mu my sharona, this is a load of bullshit. Not sure where your getting this nonsense but you should check your sources.

 

[Shaarona]

Mu mu mu my sharona, this is a load of bullshit. Not sure where your getting this nonsense but you should check your sources.

From the Deputy Minister of Energy in Iraq... that's who.

I also think KSA might increase production and pull the rug out from under them.

 

[R.C. Christian]

So the deputy Minister of Energy and his SHIA boss are palling up with their arch enemies in Saudi? Shites, making deals with wahabi dogs while they play proxy wars in Syria? Next thing you know the Easter Bunny will come through the door with a green dildo in it's basket and a check made out to me for 5 million dollars!

 

[Shaarona]

So the deputy Minister of Energy and his SHIA boss are palling up with their arch enemies in Saudi? Shites, making deals with wahabi dogs while they play proxy wars in Syria? Next thing you know the Easter Bunny will come through the door with a green dildo in it's basket and a check made out to me for 5 million dollars!

There are lots of "takes" on the situation.. I have been following the oil business in the ME for over 60 years.

Do you know any Wahabbis? I grew up in Ghawar... so take your dumb remarks and stuff them.