Finally, Iraq war will increase supply of oil... from Lybia

Houston Chronicle:

Executives at ConocoPhillips and Marathon Oil are doing their celebrating early this year.

When the clock strikes midnight in Houston on New Year's Eve, half a world away in Libya the companies will be getting down to business, taking over the Waha Field's oil production.

The Houston-based energy outfits, along with New York-based Amerada Hess, announced a deal with the Libyan National Oil Corp. on Thursday that will allow them to return to the desert oil patch they had to abandon in 1986.

It has been almost 20 years since the companies, which had operated as the Oasis Group, left because of a U.S. trade embargo imposed after the United States accused Libya of backing terrorist groups.

The agreement on terms for the old Libyan concessions marks a highly anticipated return for the former Oasis members to the North African nation, which is a member of the Organization of the Petroleum Exporting Countries.

...

Libyan oil production has taken a nose dive since its heyday, dropping from more than 3 million barrels a day in 1970 to 1.5 million barrels in 2004.

...

It was not possible until Lybia gave up its WMD after it saw how quickly Iraq was defeated in 2003. The anti war lobby ignores the better relations with Lybia that have resulted from the war in Iraq.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t...
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more