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| Iraq |
| No Iraq at OPEC Until U.S. Leaves Baghdad |
| 2003-06-11 |
| DOHA, Qatar (Reuters) - OPEC cannot permit Iraq to attend meetings of the cartel while Baghdad remains under the rule of an occupying U.S.-led authority, oil ministers said Wednesday. Attend? We didn't ask to attend or join.... "We cannot have relations with Iraq until there is an internationally recognized government, that is a consensus," said Venezuelan Oil Minister Rafael Ramirez. Tool of Chavez's regime "This does not mean we do not want Iraq in the organization. We do want Iraq in OPEC and we think Iraq will want to stay in OPEC because they will need a reasonable price for oil," he said. Ministers said the position, agreed during a ministerial meeting Wednesday, was common to all international organizations that hold diplomatic status. "OPEC is not a special case," said OPEC President Abdullah al-Attiyah of Qatar. That means Baghdad will be excluded from production policy conferences until Washington transfers power to a U.N.-recognized sovereign Iraqi government. Don't hold your breath fellas The stand will send ripples of concern around international oil markets. Traders are concerned that an isolated Baghdad, under Washington's influence, could leave the organization it helped form over 40 years ago. "OPEC is on the horns of another dilemma," said Peter Gignoux, head of the London energy desk at Citigroup. Baghdad has already missed two OPEC meetings since the U.S. invasion in March. Cartel officials said the group's Vienna-based secretariat would move now to contact Baghdad for the first time since the war to maintain ties with the interim authority. Oh...so I guess Iraq wasn't calling them, hmmm? "We are waiting for an Iraqi oil minister. Until that time we will contact Iraqi officials to see how we can cooperate," said Attiyah. As yet there is no clear timetable for any transition in Baghdad to a full Iraqi government. Washington is planning, in about four weeks time, to install an Iraqi interim political council that can try to name candidates to organizations like OPEC. But members of that council will not have diplomatic status and a full Iraqi government may not be in place for a year or more. It remains unclear whether or not OPEC will recognize the interim political council. Iraq is expected to resume exports in a week's time but has said it could take a year to restore supplies to pre-war volumes of 2.7 million barrels a day. Its huge reserves give it the potential to reach six or seven million barrels daily in years to come, output that would dwarf all but Saudi Arabia's in OPEC. "Don't call us...we're too busy pumping oil..we'll have to get back to you". Of course, we didn't go to war for the oil, but it sure is a bonus if OPEC and the Saudis, Libyans, Chavez, et al get screwed |
| Posted by:Frank G |
| #10 I would love to see OPEC go in the crapper. I agree with someone,we should dump tons of money into fuel cell/fusion tech.That would put a serious hurt to OPEC. |
| Posted by: raptor 2003-06-11 19:35:27 |
| #9 "OPEC cannot permit Iraq to attend meetings of the cartel while Baghdad blah blah blah"...okay, that works for me. See you in the agora. |
| Posted by: Watcher 2003-06-11 16:43:56 |
| #8 I wish there were some way for the US to angle the world's largest new pipeline from under the Saudi-Iraqi border and drain Saudi oil fields first before we have to dip into our new strategic reserve HAHAHA $10bbl oil by 2005! |
| Posted by: Not Mike Moore 2003-06-11 16:40:39 |
| #7 These guys are basically making a face-saving statement. They would love to have Iraq back in OPEC - the whole point of the organization is to restrict output to keep oil prices high. Since the US has indicated it will keep Iraq out of OPEC, the organization's response has been to act as if they want no part of US-administered Iraq. Due to the successful American defeat of Saddam, OPEC has a surplus of lemons - that statement is just their way of trying to make lemonade. It's a statement with no meaning or practical impact. |
| Posted by: Zhang Fei 2003-06-11 16:16:09 |
| #6 Well, I think we ought to send a representative - if only to shit in the punchbowl. |
| Posted by: mojo 2003-06-11 16:01:15 |
| #5 I think the Venezuelan guy meant that they prefer dictatorships. |
| Posted by: Yank 2003-06-11 12:59:54 |
| #4 Gosh, since Iraq isn't welcome at OPEC, there won't be any need for Iraq to coordinate its oil exports with OPEC. That means (lessee, 2 + 2 = $12 for a barrel of oil) Iraq is free to export as much as it likes just as soon as the oil fields get repaired. Well, okay, OPEC wins, I guess Iraq shouldn't be allowed back in. Shucks. |
| Posted by: Steve White 2003-06-11 12:57:49 |
| #3 All the more reason for the West to declare that total energy independence is a matter of national sucurity for the nations that make it up. Every less barrel of oil we buy from these nations is more nail in the coffin of the regimes that run these cesspools |
| Posted by: Someone who did NOT vote for William Proxmire 2003-06-11 12:50:04 |
| #2 "internationally recognized government" the coalition authority HAS been recognized by the UNSC, under UNSC Res 1483. |
| Posted by: liberalhawk 2003-06-11 12:31:48 |
| #1 Is this supposed to be a threat? If so, these monkeys are even more delusional than I'd given them credit for. OPEC's a target, dummies... |
| Posted by: mojo 2003-06-11 12:14:41 |