Drumbeat: October 10, 2012

theoildrum.com 10 Oct '12, 1pm

Drumbeat: October 10, 2012

Frugal, no, Iraq does not really believe they can increase oil production by almost 1 million barrels per day for the next seven years. They are a very smart people and to say that they really believed such a silly thing would be accusing them of being very dumb. That would be a serious mistake. There may be a bit of wishful thinking there but they know very well that it is an impossibility. I lived in Saudi Arabia for five years and with the risk of being flamed I will tell you exactly what is happening. I have reported this Arab predilection before and was highly criticized for doing so. Nevertheless, having lived with Arabs for five years I understand. It is all explained in this PDF file. Learning to Think Like an Arab There is also a bit of wish fulfillment in Arab exaggeration. They at times can have such a strong desire for an event to take place that they make a st...

Full article: http://www.theoildrum.com/node/9553

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