I just saw the latest gallup polls about the Iraq war and Bush handling of
it. As we said the whole time, "it were and is a bad idea to unilaterally
occupy Iraq". Now finally a majority of the American people seems to agree
with it and that Bush is not capable to handle it. Now we cannot find any
majority population of any country in the world, who think that the Iraq
occupation was or is a good idea.
We also find some fine ways of which the OPEC countries show their opinion
of what is happening. They are signing up the major development of Natural
Gas with other countries, like Russia and China, and when US finally have
transport capacity for NG, they will have difficulties to buy enough. The
same is happening on new oil exploration. They also have difficulties in
delivering more oil to US. This is not a surprise, if the proponents of the
opinion that we at the moment experience the Hubbert peak of oil
production. The other possibility is that the oil producing countries
prefer to sell to China, than to US. My personal opinion is that, even if
they wanted, they cannot meet the growing demand in US and the world. US is
not only buying to meet higher demands, but is also buying desperately for
filling up their strategic storage reserve, that way pushing prices higher.
Hakan
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