With the two new oilfields will the price go down?

[MHz]

http://www.presstv.ir/detail.aspx?id=6913&sectionid=351020103

"Engineers at the National Iranian Oil Company (NIOC) have discovered an abundant oil field with a capacity amounting to 1600 million barrels."

http://globalresearch.ca/index.php?context=viewArticle&code=CRO20070420&articleId=5446

"If confirmed, it would raise Iraq from the world’s third largest source of oil reserves with 116bn barrels to second place, behind Saudi Arabia and overtaking Iran."

Or will it go up as the 'prize is bigger' and the 'extra expense of 'liberation' is well worth it (for just a few)?

 

[the caracal kid]

my view, is that oil should go up. No more oil subsidization.

 

[s243a]

Oil is subsidized it is taxed heavily. The tax is called royalties.

 

[Walter]

More oil seems to be found on a regular basis. Perhaps the abiotic oil theory has merit.

 

[Toro]

Well, first of all, everyone should be wary of anything published by Foilerresearch.ca

However, as I believe this is correct but I'm too lazy to do a 15 second google search this morning, the answer is "no". Simply because they have found oil does not mean the price will fall. Iran's capital resources are barely enough to keep its current output flowing let alone expand.

 

[lysyfacet]

i don't see gas prices going down much anymore. They know people will buy gas at the price its at now, so i think they will maintain this price. The chances we'll see gas back to 80-90cents a litre will be very rare. Mite aswell get used to the prices we have now.

 

[temperance]

No it will double in price

 

[s243a]

Everyone that supports Kyoto should be happy for high gas prices.

 

[Toro]

Everyone that supports Kyoto should be happy for high gas prices.

Exactly.

You can't bitch about high oil prices and support the environment.

 

[the caracal kid]

agreed, toro.