The one commodity that nearly everyone in the civilized world uses today, and will continue to use in the future, is the black gold. I read an article from Bloomberg this morning that was spot 0n for how I see things in the world oil dynamic.
There are countries who have oil, and those that do not. How these countries without it align themselves and vie for the commodity in the future, will be absolutely paramount for their survival as not only a successful country, but one that can even function on a daily basis. Without oil, any given country could not exist for long. If oil is not available or obtainable, there would be anarchy, riots, and general upheaval. Try to think of the United States if there was no oil for the masses. Think of how everything would stop. No air travel, no car travel, no electricity. Nothing. Back to square one. It would be a crazy world, indeed.
I think there was a bigger reason for the Iraq war. The US felt the need for a presence in the Middle East to guarantee a solid source other than the Saudis. There is no other reason for us to get in there and throw a country upside down. We haven't gone into North Korea or Syria and they have even crazier leadership that pose more of a threat with nuclear capabilities. There is a reason we didn't go into either country. They have no oil, and their neighbors would undoubtedly get into the fray, making things very difficult for the big, bad, US of A. Funny how politicians think the public is stupid.
It's good to see a few oil big wigs (even in Italy) speaking the truth. The US better start acting fast in overturning their laws preventing drilling in Alaska , the Gulf of Mexico, and off the west coast. Otherwise, we could be in a deeper quagmire than anyone ever imagined.
CZ
2 comments:
Or, we continue to buy (or take) the rest of the world's oil until we're sitting on the only oil left (Alaska, Gulf). Then everyone has to come begging to us.
Saudi Arabia is the biggest oil producer in the Organization of the Petroleum Exporting Countries (OPEC). With one-fifth of the world's proven oil reserves, some of the lowest production costs, and an aggressive energy sector investment initiative, Saudi Arabia is likely to remain the world's largest net oil exporter. From January-November 2006, Saudi Arabia supplied the United States with 1.4 million barrels per day of crude oil, or approximately 14 percent, of U.S. crude oil imports.
Saudi Arabia produces 14 million barrels of oil a day. UNBELEIVABLE!!
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