July 07, 2003

The Economist Sees Bad News on the Supply Side

As if the world economy needed another factor adding drag...

Economist.com: MANY of those who advocated war in Iraq argued that it would be a relatively cheap exercise. After all, Iraq sits on the world’s second-biggest oil reserves after Saudi Arabia; even before the war, the country was thought to have a production capacity of 3m barrels per day (bpd). All the conquering coalition troops would have to do is fix up the creaking or damaged oil wells and refineries, and Iraq would soon start paying for itself. Unfortunately, things haven’t turned out that way. Thanks to some astute forward planning (and the advance deployment of special forces), there was very little wartime damage to Iraq's oil fields. Since the war, though, disgruntled supporters of Saddam Hussein have sabotaged oil fields and pipelines. So Iraq has yet to export any oil produced since the war, a state of affairs that has buoyed the oil price. Now a general strike in Nigeria, triggered by a jump in the cost of petrol, threatens that country’s 2m bpd output. Some oil experts now think the oil price, currently bobbing around the $30 mark, could climb as high as $35 if the strike, already in its second week, continues. None of this is good news for the fragile world economy.

After the first Gulf war, departing Iraqi troops torched Kuwaiti oil wells--an act of vandalism for which the country is still paying reparations. This time, the American-led forces planned carefully to try to prevent sabotage of Iraq’s oil fields. In addition, they enlisted the help of private oil companies to ensure that any repairs would be carried out quickly. This strategy was largely successful. However, since Saddam was toppled in April, those elements opposed to the coalition's occupation of Iraq have found oil installations and pipelines an easy target. American troops patrolling Saddam’s central Iraqi heartland have enough trouble guarding themselves, let alone protecting thousands of miles of exposed pipeline in barren desert.

Oil officials in Iraq are now careful about issuing any production and export targets, having already missed several. The official goal is to get production up to 1.5m bpd by the middle of July--that is, to half the pre-war production capacity of 3m bpd (and actual production of 2.5m bpd). Officials were scrambling over the weekend to repair the Iraq-Turkey pipeline in order to restore exports from the northern oil fields near the Kurdish region. The giant Kirkuk oil field is pumping 500,000 bpd, compared with 850,000 before the war. Iraq's oil-marketing organisation left Kirkuk production out of its second sales tender, issued last week, in a sign that the central administration lacks confidence about how soon the pipeline can be restored...

Posted by DeLong at July 7, 2003 10:19 AM | TrackBack

Comments

>Unfortunately, things haven’t turned out that way.

They mean it's unfortunate for the world that unilateral grabbing by America of whatever it sees and wants hasn't turned out to work very well? This seems a strange spin on things for anyone who's not part of the American elite. I imagine most people think it's wonderful to have demonstrated that America cannot do whatever it wants blithely ignoring the rest of the world.

Posted by: Maynard Handley on July 7, 2003 02:26 PM

Yes, pity that the Iraqis can't be made to pay for their own occupation by foreign troops.

My heart bleeds.

Posted by: Ian Welsh on July 7, 2003 08:11 PM


(PLEASE I AM ECONOMIST FROM UNIVERSITY OF PESHAWAR)


Subject. Please Formaly INVITED me for participate in the next coming
economist conference / Seminar in your Country on my own expenses

Dear Sir/ Madam economist.

It is stated in your honour that I am Master in Economic from University of Peshawar NWFP Pakistan. I have very tremendous experience in the development of different project in economic field. I have already completed Information Tecnology in Computer Science from Peshawar NWFP Pakistan with related economic matter. I have kept utmost high desire for development and work on the economic sector, I have worked for more projects of economic in my country and run one private Institute with my few economist friends for contacts with private and governments istitute in economic matters and probem. Now I am struggle and also want to learn a new method and procedure for experiment from the worldwide economist. In this regard I want to attend and touch with worldwide economist for attend the Conferences and Seminar and others gathering with economist. So that will be help me for my experience.
Therefore I keep desire to attend the world globalization economist conferences throughout the world specially In this regard I have previously visited and attend the following below countries economist CONFERENCEs, SEMINARs in FRANCE,GERMANY,ITLAY,THILAND,SINGAPOUR,UAE,HONGKONG,SUDIA ARABIA Now I would like your country for attend the next coming conference. I also expect from your Prestigious Institute or University for help participation me in next coming Conferences / Seminar/ Meeting.

Therefore it is requested in your kind honor to Formaly INVITED me by post mail or Fax for participate in conference / Seminar / Meeting in your prestegious country. So I will come for visit to your country on my own expenses I will also be consider your invitation letter as a help for economic activety and development the subject with world wide economist. Then I will prepare myself for attendance the prescribed economist conference / Seminar / Meeting in your Prestegious country on my own expences.

In this behalf your sponsor or Formal Invitation letter by post mail or fax to me is more necessary for conference / Seminar / Meeting attendance in your prestigious country, because on that behalf I will take permission from my both job offices.


1. I am Pakistan Government Servant i.e. Collectorate of Custom and Central Excise Department

2. I have a my second time job as Economic lecturer to teach Intermediate & Graduation Student
The followinfg below subject in which I have Master in Economic for University of Peshawar.

Please find enclose my Personal information for contacts with me and furhter necessary action as desire.

PERSONAL Information:

Name: Abdul Wahid
Nationality: Pakistan
Age: 32 years
Place of Birth: Peshawar City Pakistan

EDUCATION:
1985 Board of Intermediate Peshawar Pakistan

SSC. Metric
1st Division in Grade A
1989 Board of Intimidate Peshawar Pakistan

F A Intermediate.
2nd Division in Grade D.
1992 University of Peshawar Peshawar Pakistan

Graduation
1st Division in Grade A.
1997 University of Peshawar Peshawar Pakistan

Master in Economics
1st Division in Grade A.

Diploma in I.T computer Science. 1997 I have a diploma in Computer Science in Information & Technology from Peshawar with the economic related matters.

Government job Experience. I have 11 years job experience and still continue finance matters in Pakistan Government Service at the Collectorate of Custom and Central Excise department Peshawar as UDC and
Promoted to Inspector And very tremendous experience in the tax and others financial and Banking and Economic investment Matter and work still continue

Lecturer. I have my second time job as economic lecturer in Sir Sayed Collage Peshawar is teaching the economic subjects to Intermediate and Graduate student in Pakistan from last 6th Years and teaching the following below subjects.1.Econometric 2. Mathematics for Economic, 3.Statistic, 4. Macroeconomic, 5. Microeconomic, 6.Monetory, 7.Industrial economic, 8. Public Finance, 9.International Economic, 10. Agriculture Economic

Accountant and finance Experience. I am also advisor of one Sarwar Automobiles for deal their account and other financial matter like taxes and other lawful Matter in Pakistan.


Address:- Abdul Wahid.
House No.2 Street No.18 Fasial
Colony Dalazak Road Peshawar
City NWFP Pakistan.

Phone Residence. 092-091-241514

Phone office & Fax 092-091- 251539 Fax No. 092-091-251830

Email. Wahid68pk@yahoo.com . Wahid68pk@hotmail.com


Passport No. G737841

Date of Birth. 30 April 1968.

Collected Experience from the world wide Economist. I want to learn new process and procedure from the world Wide economist Conferences / Seminar / Meeting for the mass development. Therefore I keep utmost desire for attend the world Economist Meeting / Seminar / Conference / and Symposium. In this regard I have visited and attend the following below countries for Attend the economist CONFERENCE IN FANCE, GERMANY, ITLAY, PORTUGAL, THILAND, SINGAPOUR, HONGKONG, UAE, and SUDIA ARABIA. therefore I also Wish to register my self with All worldwide economists Organization throughout the world globalization for new Process and procedure for learnt keen accelerates my economic subject and attend the economic conference / seminar meeting .

Organization. I have my own Modern Economic and Scientific and Research Institute which participate along with me four economist and Recognized by the government to give advice in finance sector like Budgeting and taxes and Economic also touch with business Community or for economic activity.

Master in Economic. Please I have qualified my master in economic with the following below Subject 1.Econometric 2. Mathematics for Economic 3. Statistic 4. Macroeconomic5. Microeconomic 6. Monitory 7. Industrial Economic 8. Public Finance 9. International Economic 10. Agriculture Economic.11. Viva

Thank you, my formal invitation for participation in conference / saminar

Applicant


Abdul Wahid
Economist

Posted by: Abdul Wahid on July 24, 2003 05:06 AM


(PLEASE I AM ECONOMIST FROM UNIVERSITY OF PESHAWAR)


Subject. Please Formaly INVITED me for participate in the next coming
economist conference / Seminar in your Country on my own expenses

Dear Sir/ Madam economist.

It is stated in your honour that I am Master in Economic from University of Peshawar NWFP Pakistan. I have very tremendous experience in the development of different project in economic field. I have already completed Information Tecnology in Computer Science from Peshawar NWFP Pakistan with related economic matter. I have kept utmost high desire for development and work on the economic sector, I have worked for more projects of economic in my country and run one private Institute with my few economist friends for contacts with private and governments istitute in economic matters and probem. Now I am struggle and also want to learn a new method and procedure for experiment from the worldwide economist. In this regard I want to attend and touch with worldwide economist for attend the Conferences and Seminar and others gathering with economist. So that will be help me for my experience.
Therefore I keep desire to attend the world globalization economist conferences throughout the world specially In this regard I have previously visited and attend the following below countries economist CONFERENCEs, SEMINARs in FRANCE,GERMANY,ITLAY,THILAND,SINGAPOUR,UAE,HONGKONG,SUDIA ARABIA Now I would like your country for attend the next coming conference. I also expect from your Prestigious Institute or University for help participation me in next coming Conferences / Seminar/ Meeting.

Therefore it is requested in your kind honor to Formaly INVITED me by post mail or Fax for participate in conference / Seminar / Meeting in your prestegious country. So I will come for visit to your country on my own expenses I will also be consider your invitation letter as a help for economic activety and development the subject with world wide economist. Then I will prepare myself for attendance the prescribed economist conference / Seminar / Meeting in your Prestegious country on my own expences.

In this behalf your sponsor or Formal Invitation letter by post mail or fax to me is more necessary for conference / Seminar / Meeting attendance in your prestigious country, because on that behalf I will take permission from my both job offices.


1. I am Pakistan Government Servant i.e. Collectorate of Custom and Central Excise Department

2. I have a my second time job as Economic lecturer to teach Intermediate & Graduation Student
The followinfg below subject in which I have Master in Economic for University of Peshawar.

Please find enclose my Personal information for contacts with me and furhter necessary action as desire.

PERSONAL Information:

Name: Abdul Wahid
Nationality: Pakistan
Age: 32 years
Place of Birth: Peshawar City Pakistan

EDUCATION:
1985 Board of Intermediate Peshawar Pakistan

SSC. Metric
1st Division in Grade A
1989 Board of Intimidate Peshawar Pakistan

F A Intermediate.
2nd Division in Grade D.
1992 University of Peshawar Peshawar Pakistan

Graduation
1st Division in Grade A.
1997 University of Peshawar Peshawar Pakistan

Master in Economics
1st Division in Grade A.

Diploma in I.T computer Science. 1997 I have a diploma in Computer Science in Information & Technology from Peshawar with the economic related matters.

Government job Experience. I have 11 years job experience and still continue finance matters in Pakistan Government Service at the Collectorate of Custom and Central Excise department Peshawar as UDC and
Promoted to Inspector And very tremendous experience in the tax and others financial and Banking and Economic investment Matter and work still continue

Lecturer. I have my second time job as economic lecturer in Sir Sayed Collage Peshawar is teaching the economic subjects to Intermediate and Graduate student in Pakistan from last 6th Years and teaching the following below subjects.1.Econometric 2. Mathematics for Economic, 3.Statistic, 4. Macroeconomic, 5. Microeconomic, 6.Monetory, 7.Industrial economic, 8. Public Finance, 9.International Economic, 10. Agriculture Economic

Accountant and finance Experience. I am also advisor of one Sarwar Automobiles for deal their account and other financial matter like taxes and other lawful Matter in Pakistan.


Address:- Abdul Wahid.
House No.2 Street No.18 Fasial
Colony Dalazak Road Peshawar
City NWFP Pakistan.

Phone Residence. 092-091-241514

Phone office & Fax 092-091- 251539 Fax No. 092-091-251830

Email. Wahid68pk@yahoo.com . Wahid68pk@hotmail.com


Passport No. G737841

Date of Birth. 30 April 1968.

Collected Experience from the world wide Economist. I want to learn new process and procedure from the world Wide economist Conferences / Seminar / Meeting for the mass development. Therefore I keep utmost desire for attend the world Economist Meeting / Seminar / Conference / and Symposium. In this regard I have visited and attend the following below countries for Attend the economist CONFERENCE IN FANCE, GERMANY, ITLAY, PORTUGAL, THILAND, SINGAPOUR, HONGKONG, UAE, and SUDIA ARABIA. therefore I also Wish to register my self with All worldwide economists Organization throughout the world globalization for new Process and procedure for learnt keen accelerates my economic subject and attend the economic conference / seminar meeting .

Organization. I have my own Modern Economic and Scientific and Research Institute which participate along with me four economist and Recognized by the government to give advice in finance sector like Budgeting and taxes and Economic also touch with business Community or for economic activity.

Master in Economic. Please I have qualified my master in economic with the following below Subject 1.Econometric 2. Mathematics for Economic 3. Statistic 4. Macroeconomic5. Microeconomic 6. Monitory 7. Industrial Economic 8. Public Finance 9. International Economic 10. Agriculture Economic.11. Viva

Thank you, my formal invitation for participation in conference / saminar

Applicant


Abdul Wahid
Economist

Posted by: Abdul Wahid on July 24, 2003 05:09 AM
Post a comment