Iraq has the second largest oil reserve in the world
 

Just wanted to remind those who thought we didn't go there for the oil.

I keep hearing arguments like "Iraq doesn't produce much oil, so it doesnt make sense we would go there for oil, it wouldnt be worth it, blah blah blah"

The oil lines was also one of the first things they setup troops around so it wasn't destroyed.

oh, almost forgot

proof: http://www.globalpolicy.org/security/oil/irqindx.htm

To make your pointeven stonger, the US is allmost out of oil. Just look at the gas prices...

Not surprising...

Everybody is almost out of oil - another 10 years and the tap will be dry

I'm waiting for gas prices to come down again so I can drive my '65, it's been sitting for months now. 7mpg ain't gunna cut it at 2.20 a gallon.
Do you think the prices will drop conveniently around election time?

They've dropped 30 cents or so in the past 5-6 weeks here

I give it 20, but if you are correct, I see a WWIII coming up. Ten years is not enough to "fix this problem".

Thats right we went there for the oil. Now what are you gunna do bitch?

The oil left in the world will last more than 10 or even 20 years.. Thats not really an issue.

Prices do not have anything to do with how much oil is left, only with the production limits set by OPEC and other oil producers

Hope it decreases the price?

Talk to some geologists, they'll disagree. :2 cents:

http://www.spe.org/spe/jsp/basic/0,,...109511,00.html

tell me where you see anything about 10-20 years

we went purely to help the iraqi people psshhhhhhhh

I wish most people knew that too.

Invading Iraq for oil is not what the most of the nation agrees with.

oil prices went up because US of A is filling its depots. maybe they expect something bad in the near future (a new war maybe?)

however depots are almost filled, so prices should go back a little soon.

THE TRUTH IS OUT THERE :Graucho

http://www.orbitalconnection.com/private/oil1.gif
See, allmost nothing left in NA...

http://www.orbitalconnection.com/private/oil2.gif


Don't forget the economy in China is growing at a fast rate. Another problem is, when the oilfields are for 50% dry, it becomes harder and harder to pump it out of the ground.

Scherfi:

Mmmm... partly! :-) The major reason for the increase on oil prices is a higher demand from the Asian countries.

But considering the US consumes almost 25% of the world's oil, yet only has 5% of the world's population and is 10th in ranking in profitable production (pro rata investment), - I can't see oil prices *ever* reach the levels they were a few years back.

Sweet, hopefully gas prices will go down :thumbsup

yes, you are right about that. especially china is growing rapidly (as faboleux mentioned already).