Black gold rush
Here comes another “It’s about oil” article — really, it’s a no-brainer, right? I get a little tired of these articles; not many new twists but since Robert Fisk is an outstandig journalist, follow his words; well informed article.
IndependentThe world went to war 88 years ago because an archduke was assassinated in Sarajevo. The world went to war 63 years ago because a Nazi dictator invaded Poland. But for 11 empty warheads? Give me oil any day. Even the old men sitting around the feast of mutton and rice would agree with that.
The US Department of Energy announced at the beginning of this month that by 2025, US oil imports will account for perhaps 70 per cent of total US domestic demand. (It was 55 per cent two years ago.) As Michael Renner of the Worldwatch Institute put it bleakly this week, “US oil deposits are increasingly depleted, and many other non-Opec fields are beginning to run dry. The bulk of future supplies will have to come from the Gulf region.” No wonder the whole Bush energy policy is based on the increasing consumption of oil. Some 70 per cent of the world’s proven oil reserves are in the Middle East. And this forthcoming war isn’t about oil?
Take a look at the statistics on the ratio of reserve to oil production – the number of years that reserves of oil will last at current production rates – compiled by Jeremy Rifkin in Hydrogen Economy. In the US, where more than 60 per cent of the recoverable oil has already been produced, the ratio is just 10 years, as it is in Norway. In Canada, it is 8:1. In Iran, it is 53:1, in Saudi Arabia 55:1, in the United Arab Emirates 75:1. In Kuwait, it’s 116:1. But in Iraq, it’s 526:1. And this forthcoming war isn’t about oil?