re: what is france up to? .... protecting iraqi oi Hi folks,
Grant has made a good point:
"3)protecting its own commercial and strategic interests
in the region;"
Let's look at that a little closer and we can see how this
whole scenario is being played out for commercial gain
by the big oil companies, on both sides of the Atlantic.
Bush is simply being used by the home-grown US oilers
to find way to divest the FRENCH, ITALIAN and GERMAN
oil companies of their Iraqi oilfield interests.
..... using the excuse of WOMD is the perfect cover.
--------
Proof is as close as the price charts of these companies
and their fundamentals.
First up, let's take a look at a little history and some
timing of events within the oil industry.
With Clinton's term coming to an end, so to was the
boom times for the oilers, at least for some.
Schlumberger (Big Blue) saw the writing on the wall and
attempted to sidestep some of the flak coming its way,
through the change in Presidency.
They did that by unloading their drilling arm,
SEDCO FOREX, to an American competitor,
Transocean (Code RIG) , but SLB retained a
51% interest. Interesting about the timing of that
deal, December 2000 ..... one month before Bush
is sworn into office.
Until August 2000, Schlumberger had operated in
relative freedom under the Clinton administration, but
with the prospect of Bush being elected, the story
changed dramatically.
Here was a company, with French roots, that was
earning money in Iraq, during the period of sanctions.
Now take a look at the SLB chart and since Bush was
sworn in in January 2001, the SLB chart has been in a
steady slide, even though oil prices were trending up
during that period.
In fact, from a high at $86.87 on 24082000, SLB slid
to its lows in Oct 2002 at $33.40 ..... right around the
time the weapons inspectors were admitted to Iraq.
Since then the SLB price has steadily ticked up to
its current level of $37.66, as the case for war
diminishes.
-------
This slide in price could partly be attributed to SLB's
own dictatorial attitude towards the oil companies,
when supplying them with services ..... "we are the
biggest and best ..... therefore you will pay the rate
that we demand." ..... not so,said the oil companies.
However, the main reason for the afflicted SLB price
was surely the drawing of geopolitical boundaries by
Bush regime that made it difficult for SLB to do business
with American oil companies, while also maintaining a
presence in Iraq, through their French parent.
Let's compare the two oil services giants, US-based
Halliburton and Schlumberger, over the past
52 week period:
Schlumberger low $33.40 high $86.87 now $37.66
Halliburton low 8.97 high $21.65 now $18.60
It is easy to see that the US company has been able
to recover close to its 52 week high, whereas SLB has
suffered, due to the US oil companies siphoning their
business away from the French rebel, who has links
in Iraq.
After the 1991 conflict, SLB were asked to bid on a
contract to send 21 land rigs into Iraq to rebuild the
damaged oilfields ..... this project was on the
drawing board for a year or more, before it was
dropped, due to pressure from the US oil companies.
----------
German companies, like Deutag, also stand to lose, if
a US invasion comes to pass.
So, its pressure from the oilfield interests in France
and Germany, on their respective governments, that
has seen the conflict within the UN, right along the lines
of commercial interests in those oilfields.
Likewise, it is the US oil companies pressuring Bush
to go ahead with the invasion, that keeps their hopes
alive of finally being able to get control of the only
prize in IRAQ ..... its oilfields.
-------
Anybody who doesn't believe that this invasion is about
control of Iraq's oilfields, please answer these questions:
Who has the most to gain from an invasion?
Answer: US oil companies .....
------------
Why haven't the inspectors found any evidence of
WOMD, nuclear or otherwise?
Answer: Maybe, there's not many to find .....
------------
Why is Bush so insistent on an invasion, against the
wishes of many of his own people and the rest of the
world?
Answer: Pressure from US oil companies .....
------------
How will the oilfields be divided after the invasion?
Answer: Between US and British oil companies and
maybe a few scraps for the allies .....
---------
Strangely enough, after the invasion SLB will likely
benefit anyway, since it will then be seen as an
American company rebuilding IRAQ ......
SLB has hedged its bets nicely, whatever happens
in IRAQ, they stand to benefit ..... no war, they win
via the French connection ..... after an invasion, the
US oil companies will forgive them their sins and give
a fellow-listed US company the seismic and logging
contracts ..... even if it is only because SLB is the
biggest .....
hot charts all
yogi
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