Posts tagged “Iraq”
More Supply, Competition and Friction Possible
News of Iran’s potential slow ramp up of oil supply resounded with a downward small ping in prices in late November, later to bounce back based on supply realities and economic growth. Iraqi oil supply keeps increasing, averaging about 3 million barrels per day, a new high in the last 20 years. Iraq plans to keep pumping — growing production 500,000 – 750,000 barrels more per day in 2014. Iraq’s output relative to OPEC production hovers near 10%, from around 7.5% in 2008. Iran’s contribution to OPEC production was around 12% in 2008, dropping in 2013 to 8.6%, according to a recent Wall Street Journal article.
“Al Arab Yantafiq lam yantafique,” said Mr. Charles Kestenbaum, a top Middle East expert and former U.S. Trade Specialist, in a November 25th interview, immediately following the news of Iran’s nuclear deal. This Arabic expression is translated as: ”Arabs can only agree to disagree.” In late November, the Dallas Committee on Foreign Relations hosted Charles Kestenbaum, a veteran of Middle East affairs since the mid-1970s. In his quote, a common expression, lies the challenges ahead in the Middle East.
In last week’s column, we examined some oil production trivia involving US states. This week, we look at some international oil trivia covering the 5-year period 2007-2011, as well as some individual trivia from 2012.
In this case, the data sources are the 2012 BP Statistical Review of World Energy and the Energy Information Administration. A table showing the Top 15 countries with the highest percentage increases in oil production over the past five years follows the quiz. Answers are at the end.
1. Which country had the largest percentage increase in oil production from 2007 to 2011?
b. United States
The recent debate over the role of the military in investing in renewable energy technologies, energy efficiency and conservation programs and alternative biofuels has included many voices that sometimes conflate the linked but distinct efforts by defense officials to address energy concerns. The rationale behind the military’s energy programs can be broken down into two efforts:
- Adapting to operational energy requirements and security challenges in Afghanistan and other combat theatres;
- Hedging against future uncertainty in the global petroleum market.
Adapting to Operational Energy Challenges
Military leaders have become increasingly worried about operational energy challenges in Afghanistan and other theatres where U.S. soldiers, sailors and airmen are deployed and are working to reduce the demand for energy that must be transported across volatile terrain.
To date, part of the military’s effort to reduce operational energy requirements includes:
- prioritizing energy efficiency in the acquisitions process for new combat platforms;
- fielding micro-grid technology to more efficiently manage traditional power distribution systems that waste energy;
- replacing — where possible — diesel-fuelled generators with solar panels and other renewable energy sources;
- equipping soldiers with advanced batteries that stay charged longer to help keep them in the fight;
- and increasing awareness among all U.S. military personnel about energy use to help promote conservation practices.
There are clear operational advantages to reducing the fuel required by military personnel in theater. In particular, reducing fuel consumption also curbs the demand for petroleum that has to be trucked across dangerous territory where the fuel and the soldiers and contractors transporting it are vulnerable to insurgent attack.
The following guest essay is by Kevin Kane. Kevin is a market analyst, economist, Asia political affairs strategist, and Korean language linguist living in Seoul, South Korea. Kevin previously published American Freedom from Oil: A Bipartisan Pipedream. ——————- Iraq Oil&Gas Production: Geopolitical Compromises and Kurdish Autonomy By Kevin Kane As Royal Dutch Shell and other majors increase their investments in Iraq, some oil market analysts argue that Iraq could export over 12 mb/d (million barrels per day) within a decade, significantly shifting global production closer to 100 mb/d from the present 83.5 mb/d inventory supply. Are Iraqi oil production estimates too ambitious or perhaps, not optimistic enough? The northern Kurdish-governed territory of Iraq situated between Iran, Turkey, and Arab-Iraq is… Continue»
Just going through some files on my hard drive, and I ran across the following story. Unfortunately, I don’t have the source. But it’s an interesting look at where projected future oil reserves are expected to come from. It also reinforces the difficulty that the international oil companies are going to have replacing their reserves – as most of the remaining reserves are in the hands of national oil companies. Who Will Supply the World? Africa The continent has about 10 per cent of proven global oil reserves and 8 per cent of the world’s gas. The biggest oil producers are Nigeria, Algeria, Libya and Angola, which account for roughly three- quarters of Africa’s oil production. West Africa has become… Continue»
That the U.S. will attack Iran seems to be the conventional wisdom. I see a lot of people speculating that we will. Today, another article was published suggesting that high oil prices might lead us to do it: Soaring oil prices could trigger a US attack on Iran Indeed, Iranian leaders have so far brilliantly manipulated the US difficulties in Iraq, the deteriorating popularity of the US President George W. Bush at home, and their carefully knitted regional alliances to get the Americans to think twice before attacking them. They have also used the rising oil prices as a tool to expand their influence throughout the region. These same factors could, however, act as a double-edged weapon. For exactly the… Continue»
I am about to be traveling, but I wanted to throw this out for discussion. Over the past few years, I have heard various claims that oil companies were complicit/ultimately responsible over the Iraqi invasion. People have suggested that Big Oil was behind it, or supported it, and that they should be billed for the invasion. Or, that the military expenditure there is really a hidden subsidy for oil companies. This all seems to be widely-accepted “fact.” I have stated on many occasions that the military expenditures may indeed be a hidden subsidy, but it is a subsidy for consumers. It is an attempt by politicians to keep energy prices down. If oil prices go up because of instability in… Continue»