Thread: Archive Latest News - Think Tank - 15/04/08 - 26/08/08

Bush Says Saudi Oil Increase is Not Enough
By Scott Stearns
Sharm El-Sheikh
17 May 2008

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U.S. President George Bush says Saudi Arabia's move to increase oil production to make up for declining output elsewhere does not solve the problem of high gasoline prices for Americans. VOA White House Correspondent Scott Stearns reports, Mr. Bush again called on opposition Democrats to allow for drilling in an Alaskan wildlife refuge.

President Bush with Saudi King Abdullah at al-Janadriyah Ranch in Riyadh, Saudi Arabia, 16 May 2008
It is the second time in four months that Saudi officials rejected the president's request to boost overall oil production to drive down U.S. gasoline prices.
Saudi Oil Minister Ali al-Naimi says the kingdom did boost output by 300,000 barrels a day last week, but only to make up for declining production from Venezuela and Mexico.
U.S. National Security Adviser Steven Hadley says Saudi officials told President Bush Friday they do not believe an overall increase in production would dramatically reduce prices at U.S. pumps.
Hadley says Saudi officials argue that rising prices are driven more by uncertainty in the global market and lack of refining capacity.

US President Bush, left, meets with Egyptian President Hosni Mubarak in Sharm El-Sheik, 17 May 2008
Speaking to reporters in Egypt Saturday, President Bush says he told King Abdullah that it is in Saudi Arabia's long-term interest to put more oil on the world market.
"I said very plainly, I said you've got to be concerned about the effects of high oil prices on some of the biggest customers in the world," he said. "And, not only that, of course high energy prices is going to cause countries like mine to accelerate our move towards alternative energy."
President Bush says the kingdom's decision to boost output to make up for other shortfalls is something, but it is not enough.
The president says part of the answer is greater domestic production, and he is criticizing opposition Democrats for not allowing companies to drill for oil in the Alaska National Wildlife Refuge. He also wants more offshore drilling, more nuclear power and more U.S. refineries.
Higher energy costs are partly responsible for America's economic slowdown with record high oil prices and gasoline approaching $4 a gallon.

APPROACHING???????????

Prime Minister Barzani and Vice President Cheney meet in Washington

Prime Minister Nechirvan Barzani met US Vice President Dick Cheney in Washington this week.The meeting with Vice President Cheney came during a four-day visit to Washington by the Kurdistan Regional Government's Prime Minister.

Prime Minister Barzani discussed with Vice President Cheney the progress in the Kurdistan Region and the political and security situation in Iraq as a whole.

Minister Falah M. Bakir, Head of the Kurdistan Regional Government’s Department of Foreign Relations, said, "The Prime Minister's meeting with the Vice President was very friendly, and they covered a wide range of issues. Prime Minister Barzani described the success story of the Kurdistan Region politically and economically, and the efforts the KRG is making to promote national reconciliation in Iraq. They also discussed the hydrocarbon law and the upcoming provincial elections.”

The Prime Minister conveyed to Vice President Cheney the appreciation of Kurdistan's people for America's sacrifices in Iraq. He also thanked him for his historic visit to the Kurdistan Region earlier this year. "That visit meant a great deal to our people," said Prime Minister Barzani.

PUKmedia :: English - Prime Minister Barzani and Vice President Cheney meet in Washington

Iraq's Provinces promising in attracting Investments – Governor

Muthanna governor said on Friday that Iraq's provinces are promising in attracting investments and capitals, noting that Iraqi officials, who attended a conference held in Cairo on investments in Iraq, voiced readiness to provide investors with all facilities.

"Muthanna is one of the promising provinces in Iraq and its security stability helps attracting capitals," Ahmad Marzouq Salal told Aswat al-Iraq – Voices of Iraq (VOI) correspondent in Cairo.

Samawa, the capital of Muthanna, lies 280 km south of Baghdad.
"Iraq in general became a promising place for work and investment and attracting investors and businessmen," he added.

This came during the governor's participation in the second conference of investment in Iraq, hosted in Cairo, between 14-15 May titled "Iraq today home of investment" under the auspice of Vice President Tareq Abdul Mahdi and Egyptian Prime Minister Ahmed Nazif.

"Iraq took part in the conference with an important delegation," the governor said, noting that meetings with Egyptian and Arab investors and businessmen were held.

"A number if governors and senior Iraqi officials remained in Cairo after the end of the conference for a few days to hold more meetings with Egyptian businessmen and companies.

Aswat Aliraq

:: Peak Oil: The End of the Oil Age ::

I can not paste it! Excellent read though.

I also read in the news that The present sheik has reserved some of their oil (fields discovered) for future (theirs) generations.

This person seems to be very convinced, and how he discribes what is happening in the ME seems to make a great deal of sense.

Peak Oil: Life After the Oil Crash

Originally Posted by www.xealthy.com

:: Peak Oil: The End of the Oil Age ::

I can not paste it! Excellent read though.

I also read in the news that The present sheik has reserved some of their oil (fields discovered) for future (theirs) generations.

That's a lot of read - thanks.

President Jalal Talabani Receives PM Al-Maliki

President Jalal Talabani received Dr. Nuri al-Maliki, the Iraqi Prime Minister today in his residence in Baghdad.Talabani congratulated al-Maliki for his safe return from Mosul. He appreciated his security achievements in Basrah, Sadr city and Mosul.

They discussed the current situation in Iraq and Political developments. They also agreed the need to present the names of the new ministers to the Iraqi Parliament as soon as possible, also emphasized the necessity of common work in order to pass the crucial drafts by the Parliament.

Al-Maliki appreciated Talabani’s efforts to success the government’s work and plans

PUKmedia :: English - President Jalal Talabani Receives PM Al-Maliki

Des Res, easy access to Oilfields

Western property developers are moving into northern Iraq, selling luxury homes and flats for six-figure sums.

The investment is being driven by expectations of a black gold boom, with oil prices at record levels and Iraq's government now claiming to have the largest reserves in the world.

Despite the violence, some officials are already planning to stop Iraq's economy becoming too dependent upon oil.

This comes with a short video - well worth watching. Click the link.

Channel 4 - News - Des res, easy access to oilfields

Trade exchange with Turkey to exceed $5 billion this year – minister

Trade exchange between Iraq and Turkey would exceed 5 billion U.S. dollars this year compared to last year's 3 billion U.S. dollars, the Iraqi trade minister revealed.

"This year's trade exchange with Turkey would rise from three billion dollars last year to more than five billion dollars this year," a ministry statement quoted Abdul-Falah al-Sudani during the inauguration of the 3rd Iraq Reconstruction Exhibition in the Turkish city of Gaziantep.
Sudani expressed hope that the exhibition would represent a "gate to expanding vistas of cooperation between the two countries to the highest levels."

He called on the Turkish companies to "benefit from the privileges contained in the investment law and to enter the Iraqi market and invest in all spheres."

"The exhibition activities, which started on Thursday, have seen the participation of more than 600 global and local public and private sector companies from more than 30 Arab and foreign countries. Some 50,000 trade figures and industrialists from different countries attended the event," Sudani said.

According to the statement, the exhibition stood over an area of more than 50,000 square meters, adding the first two days of the exhibition, to run until May 25, have witnessed massive turnout by officials, businessmen, foreign visitors and Turkish citizens.

Aswat Aliraq

6 power plants to open next year

The construction of six power plants will be finalized next year in a bid to sustain the country's national power grid, the official spokesman for the Iraqi electricity ministry said.

"Opening next year will be al-Musayab gas-operated power plant with a capacity of 320 megawatts and the thermal plant of southern Baghdad with 110 mw," Aziz Sultan told Aswat al-Iraq – Voices of Iraq – (VOI).

"The first stage of a gas-operated plant in southern Baghdad will open by the end of this year with a capacity of 200 mw while its second stage with 200 mw more will open early next year," Sultan said.

He added that also next year will see the inauguration of the al-Taji and al-Dora power plants – with 160 mw each, adding they are considered as one project with a total capacity of 320 mw.

Aswat Aliraq