
Iran has discovered an oil field with an estimated 53B barrels of crude - jelliclesfarm
https://www.cnn.com/2019/11/10/business/iran-new-oil-field-intl/index.html
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dickjocke
We are living in a simulation of a game of Risk.

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sheepdestroyer
Who can decently rejoice at such a new?

That's how many more tons of CO2 in the atmosphere? As far as I understand, it
means pic oil farther away and lower prices that will affect competitiveness
of renewable.

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j-walker
This is from November 2019.

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bimr
Whenever you hear about military tensions, retrace the news in that region and
you will find newly discovered oil fields or pipeline plans.

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frank2
Tensions involving the US? Because the combination of the US and Canada has
been self-sufficient in petroleum for a few years now: i.e., the US need go no
further than Canada to get all the oil it needs. The US would be self-
sufficient now if the Saudis hadn't lowered their prices about 6 years ago in
an explicit attempt to discourage US production; as it is, US self-sufficiency
will take a few more years.

Now that the US has the technical means to extract "tight oil" just the state
of Texas has enough extractible oil to last the US 100 years, I saw one expert
say recently.

(Of course, burning all that oil would cause horrible climate change, but that
is true of the Iranian oil, too.)

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api
It's not about physical self-sufficiency but about money. It's about who gets
to pump and sell that oil and where the profits go.

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grecy
Furthermore it's about not using up the US reserves, so that when the rest of
the world runs out the US will still have plenty on it's own soil.

Have a look into why the Alaska pipeline runs that lowest possible capacity.

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api
I have long suspected that the USA deliberately held back its own oil
production to maintain a strategic reserve. This policy seems to be ending
though as evidenced by today's high domestic production.

