Iraq says 80 dollars a 'reasonable' price for oil
Nov 28, 2008
5:07 PM US/Eastern AFP
Iraqi Oil Minister Hussein al-Shahristani said on Friday that 80 dollars a barrel is a "reasonable" price for oil and that his country would support any OPEC decision to cut output.
"A reasonable price for oil is 80 dollars a barrel," said Shahristani on arrival in Cairo to attend a consultative meeting by the OPEC cartel to study slumping crude prices.
"We have to make sure that produced oil is used for consumption and not for storing.
"Iraq would support a decision by OPEC to cut output either here or in Algeria," the Iraqi minister added.
Organisation of Petroleum Exporting Countries ministers are to meet in Cairo on Saturday amid pressure for production cuts to stem heavy oil price losses, which continued to mount on Friday.
Most cartel members appeared to rule out an immediate reduction, preferring instead to wait until the next scheduled meeting in Oran, Algeria on December 17.
Iraq is excluded from the OPEC quota production system. OPEC's official output, excluding Baghdad, stands at 27.3 million barrels per day.
World oil prices closed mixed on Friday amid signs the OPEC producers' group would wait until next month before announcing any decision to cut output.
Light sweet crude for delivery in January fell one cent to 54.43 dollars a barrel on the New York Mercantile Exchange (NYMEX) as trading resumed after markets were shut Thursday for the Thanksgiving holiday break.
On London's InterContinental Exchange (ICE), Brent North Sea crude for January rose 36 cents in late trading to end 53.49 dollars a barrel.
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Iraq says.
Is it possible to do something for someone that is good, even if, the someone you do something for is as useful as a dull headache? Yes. What the US did, for Iraq, and the world, is something that in time, when the passions among the looney left fade with their deaths in the decades to come, will fade, and it will be seen for what it was - a good thing.
However, that does not mean that Iraq is our friend or even friendly.
$80 a barrel is about $30 more than it should be.
We should sell to Iraq our services and charge them for that help. 5,000 lives X 3,600 each. The number of helicopters and tanks blown up, the number of weapons used, the number of tanks destroyed, the number of humvees. A nice round figure of say $7 trillion dollars.
Ah, but they didn't ask for it.
Ok - so we shall request from Iraq, Egypt, Pakistan, and every other country that received any money from us that they open their books - that we be shown exactly how they spend the money. That if they do not use the money for infrastructure needs only, we will cut the aid and stop sending more. That if Pakistan does not use its funding to specifically deal with terrorism and fighting terrorists within its government, we will cut our aid.
Seems fair. It is our money.
"We have to make sure that produced oil is used for consumption and not for storing."
Hmm. Like we squirrel it away like nuts.
It seems freeing a people did not make them any brighter.
stupid people
Iraq
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