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2008-07-30 Home Front Economy

Oil falls to 12-week low on demand worries

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Posted by Steve White 2008-07-30 00:00|| || Front Page|| [3 views ] Top

#1 :(

Posted by Halliburton Market Manipulation Division 2008-07-30 02:26|| 2008-07-30 02:26|| Front Page Top

#2 I wonder if India and China have stopped subsidizing consumer purchases of gasoline, kerosene and naphtha? I still say most speculation was tied to the subidization of two growing demand markets without pain at the pump.

Posted by Jack is Back!">Jack is Back! 2008-07-30 08:25|| 2008-07-30 08:25|| Front Page Top

#3 Another thing that may have taken the edge off the oil bull's enthusiasm is that Iraq's monthly oil exports have increased 10 times since beginning of the year.Iran's threat to oil supplies becomes less dire. Militarily, Iraq can't choke off the Persian Gulf for any great length of time.

Posted by Richard of Oregon 2008-07-30 10:20|| 2008-07-30 10:20|| Front Page Top

#4 Iraq's total country exports haven't increased by 10 times.

The Kurdish sector of Iraq's exports have increased by 10 times - from a very low level to a moderate level.

Posted by mhw 2008-07-30 13:45|| 2008-07-30 13:45|| Front Page Top

#5 #4 Iraq's total country exports haven't increased by 10 times.

Actually, there's been considerable increase, but I, too, believe 10 time is too much. Iraq has gone from producing about 2.5 million barrels/day to producing about 3.1 million barrels/day. At the same time, local consumption has tripled or more. If Iraq could build a pipeline from Kirkuk to Haifa, one from Mosul to Istanbul, and another one from Baghdad to Eilat, their exports could grow even greater. There's plenty of production, but it's beginning to get harder and harder to get any extra to market.

Posted by Old Patriot">Old Patriot 2008-07-30 22:44|| http://oldpatriot.blogspot.com/]">[http://oldpatriot.blogspot.com/] 2008-07-30 22:44|| Front Page Top

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