Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by Alphamystic

Man, I just popped over to IIF to check in and have a peek AND, wow, I don't understand why I bother anymore.

There is such a negative vibe over there that just gets my blood boiling when I read some of the posts. There are some good people there with good info to discuss BUT....

Adster, I don't know how you do it my friend. More power to you

Sorry Neno.

I agree, I've been using the internet since 1999 and I've never come across any forum that has more trolls than the IIF!! They all need a large chill pill.

Jon Hemming

Tuesday, November 28, 2006

Hungry for oil and gas, China may take on political risks in Iran and security risks in Iraq to get a foothold where Western firms fear to tread.
Iran and Iraq together have 19 percent of global oil reserves and some of the world's biggest undeveloped fields. China already gets almost half its oil imports from the Middle East, giving it a strong strategic incentive to secure big oil-field deals in the two regional neighbors.

In Iran, mainland firms are "operating in an environment where there aren't a full range of competitors. They have the opportunity to get involved in super giant oil fields," said Ian Brown, head of the Middle East research team at Wood Mackenzie. "In Iraq, whenever the time is ripe, it will be everyone and his dog competing and the chances of having a major share will be far less."

Iran is heavily reliant on oil, which represents about 80 to 90 percent of its export earnings. But its aged and declining oil fields mean it needs increased investment just to keep output at the present level of around four million barrels a day.

So Iran needs access to foreign money and technology, but US laws prohibit American firms from investing in the Islamic Republic. Washington can impose penalties on firms from other countries investing more than US$20 million (HK$156 million) a year in oil and gas.

Contract disputes, delays, bureaucratic and political meddling, infrastructure problems and concessions oil firms say are unattractive have reduced foreign investment to a trickle.

The problem in Iraq is perhaps more intractable - the daily toll of bombings, sectarian clashes and spiraling violence. But Iraq has the third- largest reserves in the world and only 10 percent of the country has been explored for oil.

Dozens of foreign oil companies have signed memoranda of understanding with Iraq, seen as a way of initiating relations with the new Baghdad government that could develop into real deals if and when stability is achieved.

But between April 2003 and June 2006, there were an estimated 315 attacks on Iraq's energy infrastructure and few foreign oil firms have started work on the ground.

To escape its bind, Iran has dangled the prospect of huge energy deals with China, which may be willing to accept less lucrative deals to attain energy security and which traditionally does not link investment with politics.

For Iran, such deals might also help dissuade China from backing sanctions against Teheran over its nuclear program.

While UN Security Council negotiations over Iran sanctions drag on, so do Teheran's talks with China's Sinopec (0386) over its Yadavaran oil field, a rich prize which could be worth as much as US$100 billion.

What is given may also be taken away. "If China agrees with sanctions on Iran, not only the government of the Islamic Republic, but also the people of Iran, would consider China an enemy of Iran and this may affect its political and economic cooperation," wrote Hossein Shariatmadari, an adviser to Iran's supreme leader.

China has yet to nail its colors to the mast as the United States pushes for a tougher sanctions draft against Iran and Russia argues for the European text to be watered down.

Before the 2003 Iraq war, China had agreed a US$700-million deal with Saddam Hussein's government to develop the Ahdab oil field. Now that contract is being renegotiated and the new Iraqi government is keen on a deal. "Their contacts with Iraq never stopped," said a senior Iraqi Oil Ministry official. "They are the most active firms of all. They are on the ground with us and ready to offer all kinds of help to develop the oil sector."

REUTERS

Cheers!
DayDream

Originally Posted by DayDream

Dang...Just aint fair...I wanna see! I wanna see! (Lying on floor..kicking and screaming...turning blue!)

Cheers!
DayDream

DD, don't have to be a member to read the threads there.

Originally Posted by panhead

Everybody has their specific causes they wish to donate to when the
almighty RV hits......thinking about donating disposable Bic razors to the women of that poor impoverished nation of France.

From what I have seen we should donate hedge trimmers!! LOL

Originally Posted by Adster

DD, don't have to be a member to read the threads there.

Can't get into it....I get this message...

Sorry. The administrator has banned your IP address. To contact the administrator click here

And I've clicked and clicked and clicked! Even e-mailed them, they don't even have enough class to reply. I thought I was banned because of posting paynes1 info on the Marshall Plan, but SGS said she was banned because she hadn't posted in awhile. Well I stopped posting also, so I could've been banned for that. Who knows? They never bothered to tell me why. How rude!


Cheers!
DayDream

Originally Posted by Caroline

Well, here's where I get a little confused. Will it be possible for the dinar to just continue going up a little bit with every auction until they reach a certain point WITHOUT anything else ever happening??? Why is it assumed that it will go on the world market? Are all the other mideast currencies on the world market?

I'm just playing devil's advocate here because I realize after a year of being invested in the dinar, I still don't really understand all these issues.


Caroline

PASSING THE FIL FOR ONE. cant have international trade practices if your currency isnt accepted worldwide.

if they are on the forex, they are on the world market.

Originally Posted by bigred52

There is no French franc ! It was converted to the EURO.
I am refering (with my thanks) to the SWISS FRANC the most stable
currency in the world. This is because the Franc is backed with sufficient
GOLD reserves. The French used to be an ally but have become part
of the problem.

I find it interesting that the French are now trying to get first in line to invest in Iraq!! They should be denied any benefit from our sacrifices there.

Originally Posted by Adster

DD, don't have to be a member to read the threads there.

Since they don't have Mods any longer I don't think it will make any difference.

BTW, What's a Fourm Advisor?

Originally Posted by panhead

If this thing starts at .04, your mission if you decide to accept it will be
to run downstairs and kick Susie square in the backside then promptly hide
her stash!
.04 is unacceptable

I understand this sounds harsh, but drastic times call for drastic measures.

she would have to eat her wheaties, lol.

Originally Posted by danny51

I find it interesting that the French are now trying to get first in line to invest in Iraq!! They should be denied any benefit from our sacrifices there.

French were one of the first to object going into Iraq, they were dead against it. And now look at them, fack did they do? Nothing, no troops, nothing and they want a piece of Iraq. I wouldn't give them the poo off my shoe.