Tuesday, January 28, 2003

Oh, it's not about oil...

Tom Tomorrow points me towards this mind-bending story.

After the loss of 1.5 million barrels per day of Venezuelan production in December the oil price rocketed, and the scarcity of reserves threatened to do permanent damage to the US oil refinery and transport infrastructure. To keep the pipelines flowing, President Bush stopped adding to the 700m barrel strategic reserve.

But ultimately oil giants such as Chevron, Exxon, BP and Shell saved the day by doubling imports from Iraq from 0.5m barrels in November to over 1m barrels per day to solve the problem. Essentially, US importers diverted 0.5m barrels of Iraqi oil per day heading for Europe and Asia to save the American oil infrastructure.

This makes no sense to me. Everybody carpool or ride the bus or walk or use a bicycle so we don't have to do stupid crap like this anymore!

No comments: