The Iraqi oil question: Does it flow, yes or no?

[Robbien]

FAW, Iraq -- The status of Iraq's crucial oil exports was mired in confusion Tuesday, with government and industry officials giving contradictory statements about whether oil was flowing or whether there were even oil tankers at the main offshore terminal near Faw.

Two top officials with the state-run South Oil Co. said yesterday that oil shipments from southern Iraq -- which account for 90 percent of the country's exports -- remained halted after weekend attacks on pipelines and oil fields. But another said exports were running at 800,000 barrels a day, about half the normal flow.

Meanwhile, people at the port in the Faw Peninsula, including an oil smuggler there, said no tankers had even been there since late Sunday.

Despite the questions about Iraq's exports, oil prices dipped yesterday as traders continued a sell-off amid easing fears that disruptions in Iraq, Russia or Venezuela could cause a supply squeeze. After a 90-cent decrease Monday, October contracts for light sweet crude decreased a penny to $42.27 on the New York Mercantile Exchange -- well below peaks above $48 a barrel in mid-August.

http://pittsburghlive.com/x/tribune-review/trib/newssummary/s_246620.html

[Old and In the Way]

1. What if Big Oil wanted to keep Iraqi's from pumping their product?

Serves to keep supply down and premium price on the market and it will be worth more later.....

[fearnobush]

2. Its all gone, the media, the truth, the thing called democracy.

What your being fed is something they like to call democracy. Like the Republicans at the office say... about 911, WMD, Plame, Enron, etc, "why do need to know these things? There bad for America to debate." Unbefuckingleavible.
I work with a guy from Poland. He despises Bush Admin, says it kind of reminds him of home - that is watching the news. He says, it's all a lie and he cannpt figure out why people are so passoniate in believing the lies. He says he figures that since we have so much here, (still and for now) most people don't care ar want to care.

[daleo]

3. It is hard to trust anyone on this subject

In the end, the question will come down to whether or not there are shortages, I suppose.

[jmcgowanjm]

4. No, #1) 1.7mbd impossible #2 Kirkuk/Ceyhan hit again today

#3 All you need is 1 person watching tankers coming
out of Shatt alArab to see that none are coming out.

http://www.iags.org/iraqpipelinewatch.htm