Mission Accomplished

[boutons_]

Total, TotalFinaElf, Elf Aquitaine...


Boutons doesn't give a what that company does...


It's done everything he accuses the American companies of attempting to do...to a far mroe genocidal and disastrous degree...


boutons doesn't care...because he only hates America.



His views are worhless...he is pure bias and double standard.

There he goes again. if you're a dissenter, you're a traitor.

Whott, tell us again your fairy tales about democracy and "winning" in Iraq, WMD, Saddam's role in 9/11, and his wonderful support for AQ!

[scott]

Essentially, only time will tell for a schmo like me. I do tend to believe any significant increase in supply from IRAQ would spark the other suppliers to increase their inventories too. That would in turn make Supply Elastic. Small increase like the 200,000 barrells from the Saudies will have little impact, but I believe the IRAQi's have the resources to supply much more than just 200,000..

If only time will tell (as opposed to the long post I provided in response to your request), why bother asking?

If you want to believe that there is no profit incentive for individual oil companies to get incremental production out of Iraq because you believe that such incremental supply would reduce price so significantly, you are more than welcome... but you'd be extremely foolish to do so.

[RandomGuy]

Would you rather sell 1 house for $1 million, or 10 houses for $200k? Just becuse your supply increases ten-fold does not mean price decreases ten-fold.

Quan ies and prices do not move by the same amount, is the answer to your question.

You are trying to explain particle physics to Mrs. Smith's special education class.

Commendable, but ultimately pointless.

[Gino]

That's not the ing point now, is it? The whole pretext about the war on terror bull , and liberation of Iraq is completely blown. I won't argue Saddam was a ruthless dictator, but don't come here with that "true democracy installed" bull . You haven't installed . Iraq is in shambles. The minute the US gets out of there, what the do you think is going to happen??

Of course, now that the US plans to have oil interests in Iraq, I doubt you will ever truly "leave". The only thing this war has proven is the US has carte blanche to do whatever they want.

My main concern here is the US has lost its moral high ground. What the are you going to say if Russia decides to invade a neighboring country under the pretext of national security? In short, the US will lose its status as the peace keeper of the world, if it hasn't already.

You keep switching between "U.S" and "you" when talking about the U.S.

Do you refer to the Spurs as "we"?

[Brutalis]

Seriously, if this doesn't erase any doubt about why the US invaded Iraq, nothing will. The US has quickly lost all credibility as a global governing body. They do what the want, without repercussion. You've gone from stalwart representative of democracy to common thug in a matter of years.

Keep talking and we'll take your little country next!

[2centsworth]

If only time will tell (as opposed to the long post I provided in response to your request), why bother asking?

If you want to believe that there is no profit incentive for individual oil companies to get incremental production out of Iraq because you believe that such incremental supply would reduce price so significantly, you are more than welcome... but you'd be extremely foolish to do so.

From your post i read you left open the possibility that supply is elastic. Btw, economics is not a science.

[2centsworth]

You are trying to explain particle physics to Mrs. Smith's special education class.

Commendable, but ultimately pointless.

Please enlighten us how a genius like you justufies being on welfare when you were more than healthy enough to work. Oh wait, you're a punk and have me on ignore but také little pot shots.

[SRJ]

My understanding is that the volume of oil produced by nationalized oil has a much bigger impact on worldwide oil prices than commercial oil does. Am I wrong?

[scott]

From your post i read you left open the possibility that supply is elastic. Btw, economics is not a science.

I left open the possibility that, at current prices, supply is elastic on a macro level. All supply (and demand) of all goods is elastic at some price level (this is the mathematical law of elasticity, where the midpoint of the supply/demand curve in question is the inflection point at which supply/demand switches from elastic to unit elastic to inelastic).

What I also clearly stated (or so I thought) was that increased production would result in increased profits for any individual producer (the micro level).

But, I guess people read what they want to read.

And that economics is not a science is news to us economists.

[ElNono]

it's only a science if it ends in -ologist'

Like boutonsologist?

[PixelPusher]

And that economics is not a science is news to us economists.

it's only a science if it ends in -ologist'

For those economists savvy enough to recognize that economics is really just a branch of anthropology, it is indeed a science.

[2centsworth]

I left open the possibility that, at current prices, supply is elastic on a macro level. All supply (and demand) of all goods is elastic at some price level (this is the mathematical law of elasticity, where the midpoint of the supply/demand curve in question is the inflection point at which supply/demand switches from elastic to unit elastic to inelastic).

What I also clearly stated (or so I thought) was that increased production would result in increased profits for any individual producer (the micro level).

But, I guess people read what they want to read.

And that economics is not a science is news to us economists.

I understood you very clearly and you made excellent points. Thus, there was clearly an oil incentive as far as the bigoilcos are concerned.

My amateur economists sense tells me a significant increase in supply from IRAQ will backfire and we'll see prices plummet back to $1.5. It will spur a battle between the suppliers and they will flood the market just to keep pace.

[spurster]

[boutons_]

Iraq throws open door to foreign oil firms

"By allowing international firms to help raise output at its key producing oil fields, the Iraqi government is breaking with the policy of major oil-producing neighbors such as Saudi Arabia, Kuwait and the United Arab Emirates where national firms keep tight control of foreign investment in their oil sectors."

" "The six oilfields that have been announced today are the backbone of Iraq's oil production," Oil Minister Hussain al-Shahristani told a news conference."

(aka, "To the Imperialistic Invaders, go the spoils of resource imperialism." )

"But Shahristani, showing frustration, said talks on deals that were supposed to quickly boost output at fields by utilizing the technical expertise of majors were still going on.

He said the firms were reluctant to sign the technical support contracts because they would offer their advice from abroad and preferred to be hands on with the fields."


" Iraq's cabinet agreed a new draft national oil law in February last year, but it has failed to get through parliament.

Baghdad has moved ahead with the contracts, saying this was in line with an old law in existence before the invasion"

( Iraqi democracy sounds pretty much like a dubya democracy. " everybody else in govt, I AM the government" )

http://www.washingtonpost.com/wp-dyn...l?hpid=topnews

==================

The US holds $50B in iraqi cash, used as a bludgeon to get the oil deals. Of course, the US/UK oilcos will take extremely good under-the-table care of Maliki and friends.

[smeagol]

Can you imagine if boutons was a twenty-something in a Latin American country during the 60s?

He would've been Che Botones . . .

[boutons_]

Whott can't handle the -slapping truth I lay on him, so he calls me a lying .

I really, really yank Whott's dinky little chain.