Americans Renouncing Citizenship in Record Numbers

[Chizzang]

The NY Times bullet points:


1. Even as Chinese oil companies lock up the majority of oil from Iraq, four American development companies, including Halliburton, are sucking up half the development dollars that will be spent over the next 10 years.

2. The reason Chinese firms are so successful in Iraq is that their companies aren't making much money on the deal. That's right, China is just in a hurry to get the energy in order to propel its massive growth. American firms are more worried about profit, and so have more trouble winning bids (and taking undue risk).

3. U.S. oil companies already develop and purchase oil in (arguably) less dangerous regions (though Exxon did win rights to the Qurna oil field, one of Iraq's largest).

4. Oil is a global commodity. So more oil produced is better for everyone globally. Plus, as Max Fisher of The Washington Post put it, "Chinese-led [demand] spikes" in price per barrel hurt everyone.

So In the eyes of America: Let China take the risk (that being, at this moment, a possible civil war in Iraq).

5. The U.S. is set to be the largest exporter of oil by the year 2020. Being the largest exporter of oil when China is the largest importer has strategic significance.

[Ibanez]

The NY Times bullet points:


1. Even as Chinese oil companies lock up the majority of oil from Iraq, four American development companies, including Halliburton, are sucking up half the development dollars that will be spent over the next 10 years.

2. The reason Chinese firms are so successful in Iraq is that their companies aren't making much money on the deal. That's right, China is just in a hurry to get the energy in order to propel its massive growth. American firms are more worried about profit, and so have more trouble winning bids (and taking undue risk).

3. U.S. oil companies already develop and purchase oil in (arguably) less dangerous regions (though Exxon did win rights to the Qurna oil field, one of Iraq's largest).

4. Oil is a global commodity. So more oil produced is better for everyone globally. Plus, as Max Fisher of The Washington Post put it, "Chinese-led [demand] spikes" in price per barrel hurt everyone.

So In the eyes of America: Let China take the risk (that being, at this moment, a possible civil war in Iraq).

5. The U.S. is set to be the largest exporter of oil by the year 2020. Being the largest exporter of oil when China is the largest importer has strategic significance.

If we can make that work, this could be a boon for us. However, that money would have to properly used and we all know that won't happen.

[CID1990]

Good.

90% of these renuncitards are dot commers and IT weenies. They don't create fvck all.

GTFO