OT: Middle East Oil Imports
 

I went to the Department Of Energy and found a chart of middle east oil import percentages by company.
This chart is only for the first 6 months of last year. If anyone can find a newer one let me know.
I think you'll see that ALL oil companies import from that region. It's seems to be a matter of who buys the least.

DOE Middle East Imports

I found these and many more at OPEC.com


Oil jitters quelled as supply looks secure despite war risk Feb 18 2003

Feb 28, 2003
by Brian Nicholls, The Journal


Oil prices - a crucial factor in the inflation index - dropped from two-year highs yesterday, as the international split over whether to wage war in Iraq yawned even wider.

Bids also weakened after a source at the Organisation of the Petroleum Exporting Countries (Opec) said member nations would probably suspend output quotas and pump at will if war halted crude supplies from Iraq.

While the key US market remained closed for President's Day, London's international Petroleum Exchange showed benchmark Brent crude down 40 cents to $31.98 a barrel.

Last Friday, US prices had climbed to a fourth day peak of $36.80, nearing levels not seen since the 1991 Gulf War.

Traders said the market was weakening after these steep gains.

For rest of story go to

The Journal



Opec pledges flood of oil in event of conflict

Charlotte Denny, economics correspondent
Tuesday February 18, 2003
The Guardian

Oil producers will flood the world market with crude supplies if the US attacks Iraq to prevent spiralling energy costs from strangling global growth, sources in Opec promised yesterday.
The 11-member exporters' cartel will lift production-limiting quotas and "pump at will" should conflict in the Middle East put a halt to Iraq's 2m barrels a day in exports.

But the cartel declined to offer any immediate relief to the market, where mounting concerns over the repercussions of an attack have driven prices to two-year highs.

"Until war starts, there is nothing more they can do," a source said. "More production can't cool prices. They are high because of war hysteria."

For the rest of the story go to

The Guardian

Curious, no one has any thoughts on this. :confused:

I would prefer to buy my gas from a company that DOES NOT deal with the mideast AND their was another thread here last week that listed a few who SUPPOSEDLY didn't deal with "those people"...but according to this info, they do! So, how do we BOYCOTT them?

The other info was false, an "urban legend". As you see, my info came from the Department of Energy.
As for who to buy from, we'll have to pick the lesser of the evils (who buys the least).

I'm not sure if the oil companies have any say in where the oil comes from.
Do they negotiate a purchase contract with the individual oil producer or do they call OPEC and say "hey, I want to buy some oil today". Then does OPEC hand the order to what ever producer (one of 11 member countries) has the oil at hand and ready to be shipped?
I don't know. That's something I'll have to research.
Will let you know.

Interesting
 

http://www.boycott-middle-east-oil.com/
http://www.truthorfiction.com/rumors/oilterrorism.htm

What do you think the price of gas would be in the US if we did'nt get oil from the middle east. Prices would be out of sight! Sorry that is just the reality. We need the oil. We need to reduce our dependence but it won't happen overnight!

BUT, would we STOP making THEM wealthier (possibly supporting terrorism) if we didn't purchase from them?