Posts Tagged ‘oil’
Operation Enduring Pipeline
by Don Bacon
With John McCain and Barack Obama now arguing about widening the Afghanistan war and invading Pakistan, the TAPI natural gas pipeline has a better chance than freedom ever had. It would be an American-controlled cash cow that would hurt Iran. All the US needs to do is pacify Afghanistan with more troops (to safeguard TAPI) and balkanize Pakistan (to stymie IPI) while widening the war and antagonizing India. Freedom be damned. Freedom was never an option anyhow, especially when there’s money to be made by endless war.
Afghanistan crisis worse than Iraq
by Haroon Siddiqui
There’s a lot we know about Afghanistan and a lot more we don’t. An expert who knows much more than most of us – whose prescient insights I have benefited from for a decade and whom the John Manley commission consulted last year – says Afghanistan will get worse in the coming months.
Exxon Mobil, Shell, Total and BP — the original partners in the Iraq Petroleum Company — along with Chevron and a number of smaller oil companies, are in talks with Iraq’s Oil Ministry for no-bid contracts to service Iraq’s largest fields, according to ministry officials, oil company officials and an American diplomat.
The deals, expected to be announced on June 30, will lay the foundation for the first commercial work for the major companies in Iraq since the American invasion, and open a new and potentially lucrative country for their operations.
Wall Street banks and other large financial institutions have begun putting intense pressure on Congress to hold off on legislation that would curtail their highly profitable trading in oil contracts — an activity increasingly blamed by lawmakers for driving up prices to record levels.Representatives of Goldman Sachs and Morgan Stanley, along with the trade associations for hedge funds and other financial groups, have lobbied the offices of key legislators, briefed senior staffers on committees that oversee pivotal parts of the energy markets and distributed research materials explaining their view about oil and how it’s traded.
At the very least, Democrats saved themselves an awkward confrontation on gas prices Wednesday when they canceled a committee vote on the Interior spending bill.Rep. John Peterson (R-Pa.) was planning to push his offshore drilling bill as a remedy for oil and gas costs, just as Sen. John McCain (R-Ariz.) and President Bush made their tag-teamed push for drilling off the country’s coastlines.But the committee markup was canceled just two hours before it was to begin.
Brazil oil field could be huge find
By Alan Clendenning, AP Business Writer
SAO PAULO, Brazil – A deep-water exploration area could contain as much as 33 billion barrels of oil, an amount that would nearly triple Brazil’s reserves and make the offshore bloc the world’s third-largest known oil reserve, a top energy official said Monday.
National Petroleum Agency President Haroldo Lima cautioned that his information on the field off the coast of Rio de Janeiro is unofficial and needs to be confirmed — but his comments sent shares of state-run oil company Petrobras soaring in New York and Sao Paulo.
(full AP article)
looks like India isn’t wasting any time.