Humint Events Online: Peak Oil and Iraq

Saturday, June 25, 2005

Peak Oil and Iraq

The price of oil has gone up again, this time to over $60 per barrel, which sent shivers into the US stock market and thus rapid declines the past two days.

Of course, lately, everytime the price of oil goes up, out comes someone talking about Peak Oil. Last night I heard someone on NPR's MarketPlace show talking about Peak Oil and the horrible effects it could have. Then after that segment, the show went chirping on, pretending as though Peak Oil didn't exist. It's amusing to see the media flirt with the prospect of Peak Oil but still maintain a sense of denial about it all.

There is one reason though, that I don't worry TOO much about the catastrophic effects of Peak Oil: Iraq.

There are HUGE untapped reserves there, and thanks to the Bush administration-- we own them!

I imagine cheap Iraqi oil wil start flooding the market about the time Saudi Arabia oil production peaks and starts going into decline-- in the next couple years.

SO-- thanks to the leadership of President Bush, we don't have to worry about Peak Oil for another ten to twenty years!

Of course, don't tell that to President Bush. He still thinks we went into Iraq to find WMD, er, I mean, liberate the Iraqis from a brutal dictator.

And don't tell the mainstream media either-- they just want to believe President Bush, no matter what nonsense he spouts.

Yet I wonder when the cognitive dissonance over Iraq and oil will finally break through. It is simply amazing how little attemntion the vast supplies of Iraqi oil receive in reference to Iraq, in contrast to the huge volumes of air time that discussions of the Iraq war and the insurgency receive. The mainstream media is dumb, but they can't be THAT dumb. They have to know deep down one major reason we're in Iraq is because of oil.


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