Cost of War - Reliance on Fossil Fuels?, 15°

Roger K. 77°

I have recently been using youtube to get my fix of decent BBC Comedy and stubbled upon Rob Newman's (AKA one half of Newman and Baddiel) excellent one man show - The History of Oil.

He comes to a very interesting conclusion that the war in Iraq had little to do with WMD's or even Energy Security (although this is obviously a beneficial side effect). In fact he concludes that due to a number of OPEC states (axis of evil #1, #2 & #3) deciding to move the sale of oil from the universal USD to EURO's that the US was actually protecting its currency.

In fact it becomes increasingly obvious when you look at how much the war in Iraq will end up costing. $3t dollars is a number that has recently been reported. This is actually enough money to pay for the development costs of enough wind farms to totally negate the United States requirement of fossil fuels for generation of electricity at current consumption levels. It would also reduce the United States GHG emissions by nearly 40%.

Interesting stuff....

2 replies

Charles M. 110°

Well obviously the WMD argument was complete rubbish.

Acting to dislodge a dictator is also rubbish or they'd be doing the same in Zimbabwe etc.

Access to oil is also nonsense - the countries with oil need to sell it to make any money.

Given that GWB is deeply involved in the oil industry, the currency argument makes a lot of sense. Changing from USD to EURO would move the focus of oil trading from USA to Europe.

Written in August 2008

What I was reading/hearing before the war was that demand was going to exceed supply, and hence if the world needs 120 barrels, and there are only 100 barrels to go around, the US were making sure that, first and foremost, THEY got all they needed.
I'm not sure I buy the petro dollars argument. I personally think that it was Dubya paying back all that campaign funding. Remember that it is not only oil companies that profit. Weapons, construction.. you name it.

Written in August 2008

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