[OFB Cafe] Bio Fuels

[Chris Olson]

From: Timothy Butler 
Sent: Monday, July 21, 2008 10:57 PM
To: An Open Discussion Forum on Just About Everything,Especially for Techies. 
Subject: Re: [OFB Cafe] Bio Fuels

> The problem is this is a post hoc argument. Exxon Mobil's stock price  
> is not likely to have jumped by that much because of Iraq. Actually, I  
> doubt it would have moved much at all because of Iraq.

Tim, Derek, the Middle East fiasco has everything to do with US control of world oil supplies.

Exxon is only 14th on the list of the largest oil companies on earth - which are all based overseas.  When Enrico Mattei coined the term "The Seven Sisters" to describe the Anglo-Saxxon companies that controlled the Middle East's oil reserves after the second world war, the founder of the modern energy industry as we know it today could never in his wildest dreams imagine the profound shift of power that has occurred a half century later.

The Seven Sisters today are:
  a.. Saudi Aramco 
  b.. Gazprom (Russia) 
  c.. CNPC (China) 
  d.. NIOC (Iran) 
  e.. PDVSA (Venezuela) 
  f.. Petrobras (Brazil) 
  g.. Petronas (Malaysia)
These are state-owned oil companies and they control 2/3's of the world's known oil reserves.  By contrast, the previous Seven Sisters, which shrank to four over time - Exxon-Mobile, Chevron, British Petroleum and Royal Dutch Shell - control only 10% of the world's oil and gas reserves.  There's a reason the Republican oil men are fighting a war staged on fabricated premises in the Middle East, and why they want to go after Iran next.
--
Chris