Posted 31 January 2008 - 01:42 AM
Harmsway:
An interesting news article from November 2007 that echoes this development:
Brazil announces new oil reserves
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Yes. So that means there is even a greater supply of oil in the pipeline, so to speak...making control of oil even further less likely.
Look at the sources of world oil:
OPEC primarily consists of the Gulf kingdoms and states (the biggest being Saudi Arabia (by far) and then Iran and further down the Emirates, et al), some African countries (the biggest being Nigeria) and then the likes of Indonesia in the far east and Venezuala in the west.
Then we have the non-OPEC countries, the very largest being China (which only recently has gone to the top of the table as producer...which, btw, is now also a very heavy consumer) and Russia, then Norway, and then Canada and Mexico and Brazil in the Americas (not counting the US because they consume WAY more than they produce.)
Throw in the UK, Australia, Kazakhstan, etc. and we have a LOT of different sources of supply that is, basically, difficult to control...one need only look at OPEC. OPEC once was an oligopoly with pricing power, notably in the the early 1970s and then again in 1979/80. But that pricing power has gone the way of the dodo bird.
Uranium (used for nuclear power generation and weaponry), on the other had, is found primarily in Western Canada and in Australia. Imagine one corporation legitimately owning the mining rights in both those countries...and that corporation having its majority shareholdings being controlled by members of the Organisation via various numbered accounts out of the Cayman Islands and Switzerland...
THAT is the stuff of James Bond movies...Not oil.