Anybody want to fly Iraqi Airways????

[THEICEMAN]

Saw on A.net that Iraqi airways wants to buy 40 billion$ in Boeing aircraft. (hmmm why not Airbus?)

Glad to see the Iraqi government has their shit together. Despite security problems, lack of infrastructure, poor economy......they need an airline???

I guess they think that Baghdad is the new Dubai?


http://www.marketwatch.com/news/stor... ... 9D7E11C%7D

[North of You]

Working and flying out of Bagdad, eh? This job makes working out of YPL seem civilized in comparison. And I never thought I would say that.

[Uncle Leo]

Saw on A.net that Iraqi airways wants to buy 40 billion$ in Boeing aircraft. (hmmm why not Airbus?)

Glad to see the Iraqi government has their @#$! together. Despite security problems, lack of infrastructure, poor economy......they need an airline???

I guess they think that Baghdad is the new Dubai?


http://www.marketwatch.com/news/stor... ... 9D7E11C%7D

Can you tell all of your mutant friends over at airliners.net to stop taking pictures of my plane everytime I land at a major airport? It's getting annoying to see a bunch of mouth breathing, basement dwellers crowded around a fence near my plane.

Thanks, and keep reaching for the stars.

[v6g]

Well, within 8-10 years all non-OPEC oil production will be in terminal decline so Iraq's not a bad option to start up an airline (short-term security issues aside).

[THEICEMAN]

Can you tell all of your mutant friends over at airliners.net to stop taking pictures of my plane everytime I land at a major airport? It's getting annoying to see a bunch of mouth breathing, basement dwellers crowded around a fence near my plane.

Thanks, and keep reaching for the stars.

Friends at A.net ...only go there to look at cool pictures. Sing up & tell them yourself.

Ya plane spotters can get annoying! One spotter came onto the ramp in YQB to take photos of a Supercub I was flying....during my walk around.

I ignored him for the most part, but he really pissed me off when he opened the side door of the my airplane & shoved his camera inside for free pics, without my permission!
Told that punk to scram!

Who do you fly for for Uncle Leo?

Well, within 8-10 years all non-OPEC oil production will be in terminal decline so Iraq's not a bad option to start up an airline (short-term security issues aside).

Ya...tell that to China! Not all OPEC nations are in good standing with their oil reserves! Indonesia peaked a long time ago & now actually imports more crude oil then exports!
As a matter of fact, most OPEC nations have already peaked. (U.A.E, Venezuela, Indonesia, Qatar, Algeria, Libya....)

The Saudis will be o.k though! That's for sure...

[North Shore]

The Saudis will be o.k though! That's for sure...

I wonder about that, too.. there's a book called "Twilight in the Desert" (IIRC) by a guy called Matthew Simmons - he argues that Saudi is very close to their peak, and once over it, then the oil economy is in for a nasty shock...

[THEICEMAN]

I wonder about that, too.. there's a book called "Twilight in the Desert" (IIRC) by a guy called Matthew Simmons - he argues that Saudi is very close to their peak, and once over it, then the oil economy is in for a nasty shock...

Could be? But they still have the largest proven reserves on earth. Also, they have sweet oil, which only cost about a buck to brew! Imagine that....they can sell oil at 90-100$ a barrel & it would only cost them a couple of bucks! $$$$$$$$$$

Did you guys hear about the Saudi prince who is buying his own personal A380. 250$ for the airplane + 138$ million in modifications. The mods include an anti missile system, marble floors, gold finishings, etc.....

[L1011]

Did you guys hear about the Saudi prince who is buying his own personal A380. 250$ for the airplane + 138$ million in modifications. The mods include an anti missile system, marble floors, gold finishings, etc.....

It's a natural progression. You know, you get bored with your personal fleet of 737's, so you get a 747....and then that gets a little cramped, so you get an A380! Must be tough...

And on top of that, he owns James Bond's yacht, according to wikipedia:
http://en.wikipedia.org/wiki/Al-Waleed_ ... s_and_jets

But hey, at least they know how to treat their pilots!

And back to the original post, I've already considered the Middle East, so why not Iraqi Airways!

[Bobby868]

Actually a little known fact. Saudi has the largest declared oil reserves not the largest proven oil reserves. There is considerable evidence that the Saudis have been lying about how much oil they really have for years. The reason is that the OPEC quotas are based on percentage of reserves. In otherword the more oil you supposedly have the more you can ship in any given month. Thus there is a great deal of incentive to declare a reserve far higher than your actual amount.

Saudi has talked about raising output a number of times but never seems to really do it or is only done on a limited basis.

Those that are into peak oil theory strongly believe the world reached peak oil around 2005 and we are now level at the max amount that can be produced. That level isn't dropping yet but its not going any higher. World consumption however is growing higher and thats why weve gone from $35 / barrel up to $100 in less than 5 years.

[bmc]

Did you guys hear about the Saudi prince who is buying his own personal A380. 250$ for the airplane + 138$ million in modifications. The mods include an anti missile system, marble floors, gold finishings, etc.....

http://en.wikipedia.org/wiki/Al-Waleed_ ... s_and_jets

[v6g]

Actually a little known fact. Saudi has the largest declared oil reserves not the largest proven oil reserves. There is considerable evidence that the Saudis have been lying about how much oil they really have for years.

Ahh the mythical OPEC reserves! Let's take a look:-



Now, you'd be forgiven for thinking that the late 1980's were a great time for oil exploration. After all, the OPEC member reserves increased dramatically. But were there any significant oil field discoveries in this period? No. Were there any leaps forward in technology in this period? No.

So what magical thing happened in the late 1980's that 'found' so much oil almost overnight? As Bobby868 pointed out above, OPEC changed the rules on how much each country is allowed to produce - production quotas were now to be based on stated reserves and so it was much more profitable to have larger stated reserves.

However, these numbers aren't entirely 'made up'. The answer lies in the way oil reserves are expressed. Their origins lie in the difference between 'proven' and 'probable' reserves. The former being much larger than the latter (for 'probable' read 'unlikely'). Estimating a resource size is not an exact science and figures for 'proven' reserves have tended to be much closer to the final production figure. For non-OPEC oil companies that are listed on western stock markets (BP, Chevron, Shell, etc…) they state their 'proven' reserves - and a condition of their stock listing is that their books and geological estimates must be audited by independent authorities but OPEC oil companies aren't subject to these restrictions. And so, it appears, in the mid 1980's it became much more profitable for OPEC companies to list their reserves as "probable" instead of "proven" and since they're conveniently not listed on any western-world stock markets, no-one would be able to tell the difference. Even retired senior geologists from these companies have admitted this fact.

I wouldn't be so concerned about this whole peak oil thing if it wasn't for the attitude of the detractors. The argument's against an imminent supply shortfall usually lack open analytical research and typically boil down to "trust us" or open-ended phrases like "enough for the foreseeable future".

OPEC could easily quash once-and-for-all all this doomsday speak about oil if they released their figures for independent scrutiny by the industry, but despite repeated requests to do so, they have declined. What are they afraid of?

You can learn a lot about how somebody thinks by what they do with their money. What have the OPEC countries done with all this juicy revenue from their oil? Well, just what any sensible person would do - saved it and invested it. So where are these enormous sovereign wealth funds investing all their money? Like any good investor they've diversified. But whilst other large funds are diversifying into pretty much everything, the one sector that the OPEC funds seem to be avoiding is aviation - the industry most-dependent on cheap oil. While the Ontario Teachers Retirement Fund (tiny but valid in comparison) recently tried for an acquisition of Auckland Airport (but was rejected by the NZ Government), OPEC's sovereign wealth funds are being channeled into sea ports and railways - industries that will be the first to benefit when oil supply can't match demand.

What do they know?

[THEICEMAN]

Exactly what I said before! Most Opec nations have already peaked.....but it is difficult to measure reserves.

Remember that there is proven reserves & potential reserves. As it stands now, Saudi Arabia is in the lead.
Though, many experts believe that Russia may have the largest potential reserves in the world. Due to logistical problems, they have difficulties accessing it.

http://en.wikipedia.org/wiki/Al-Waleed_ ... s_and_jets

If I were rich like this guy, I would buy Air Canada & change the name to ICEMAN air!
Then I would replace the leaf logo on the fins, with a picture of me covered in diamonds.
If that's not possible, then I would buy a squadron of SU-37s just to protect the airspace above the mansion.....aaaaahhhhhhhhh

[Bede]

v6g,

I'm not one to jump on the peak oil bandwagon, but excellent informative post.

[Never Mind]

v6g,

I'm not one to jump on the peak oil bandwagon, but excellent informative post.

Let's face the facts. Oil prices have quadrupled since 2002. All data points to 2005 as the year in which total world production of oil reached a plateau. We are still on that plateau. As well, Captains of the Oil industry are warning us that the end of cheap oil is basically over. Accepting PeakOil doesn't mean that one needs to be a Birkenstock wearing, granola munching, long haired, technology hating hippie.

You, your parents, your grandparents and myself were all born in a world where petroleum production grew at a relatively steady pace. However, what most people still don't realize is that in 2005 something momentous happened. While we were plugging away at our careers and the world appeared normal and Britney Spears was somewhat stable a new era was ushered in. Petroleum supply ceased to increase.

Folks, remember that whether you believe in PO or not will not prevent oil supplies from declining. I stand a lot to lose because of PO. I sincerely hope that I'm wrong. If some day in the future I am proven wrong then I will recant and apologize for needlessly alarming people. I am a seeker of truth even if it pains me once having discovered it. An ego should not stand in the way of humbly accepting it. However, until proven wrong I sincerely believe I am right.

Never Mind