Iraq and Iran plot oil revolution in challenge to Saudi Arabia

[Gittins Gal]

What we were talking about earlier:

Link

Iraq is poised to flood the oil market by tripling its capacity to pump crude by 2020 and is collaborating with Iran on strategy in a move that will challenge Saudi Arabia's grip on the Organisation of Petroleum Exporting Countries.

Wow. This is significant. In more ways than one...

[AtW]

Hopefully by 2020 we'll have those nano-batteries that can recharge in a minute with high capacity ...

[OwlHoot]

What we were talking about earlier:

Link

Wow. This is significant. In more ways than one...

and the Iraqis are back to selling oil in dollars (after Saddam was clobbered), although the Iranians are still selling in euros.

Sounds like it will be a boost for the US, unless the Chinese hoover up all the excess oil, or even then if it keeps the cost of Chinese goods down.

[AtW]

Sounds like it will be a boost for the US

Why is that when USD can be easily changed to EUR - there is no ****ing difference whatsoever when it comes to selling oil.

Increase of oil supply is a boost to USA (and West in general) even if such sales are done for yuans to China.

[NorthWestPerm2Contr]

What we were talking about earlier:

Link



Wow. This is significant. In more ways than one...

We can only hope the moderates in Iraq can actually damage the monopoly and control Saudi have. This is another reason why Saudi is supporting terrorists in Iraq - to stop Iraq having any influence on the oil market (benefiting itself as well as the world at large)