Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

At some point in the near future the warring factions within Iraq will decide that they would rather have a piece of the oil pie and stop fighting. This will be followed by development of the oil resources and, eventually, an oil glut.

No way. Let's imagine that, indeed, all suddenly goes well, Iraq becomes peaceful, investment is made and production goes up. An extravagantly optimistic scenario would be Iraq's production jumping up by 4mb/d. That's 2.5 years of global demand increase, at current rates. Not quite enough for a "glut".

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Nov 7th, 2007 at 11:18:15 AM EST
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