A giant new oil field was discovered this past week in Mexico, and that generated big headlines.
It is no secret that Iraq sits atop the second largest proven oil reserves in the world (112 billion barrels), hence the rumors that we went to war for oil, but less well known is the fact that Iraq’s potential oil reserves are largely unexplored, and that U.S. Government estimates suggest that the true Iraqi reserves may be as high as 432 billion barrels, which would place it number one in the world, far ahead of Saudi Arabia’s 259 billion barrels in proven reserves.
Afghanistan has long been eyed as a rich site for an oil pipeline, and it has also been known to have modest oil and natural gas reserves of its own. Suddenly the word modest may no longer apply, but the mainstream media doesn’t appear to regard the discovery of major new oil and gas reserves in Afghanistan to be much of a story.
You might be excused if you didn’t notice this AP story two days ago. It wasn’t widely carried, nor was it afforded front-page status:
Wed, March 15, 2006
Huge energy reserves found in Afghanistan
By AP
WASHINGTON — Two geological basins in northern Afghanistan hold 18 times the oil and triple the natural gas resources previously thought, scientists said yesterday as part of a U.S. assessment aimed at enticing energy development in the war-torn country.
Nearly 1.6 billion barrels of oil and about 15.7 trillion cubic feet of natural gas could be tapped, said the U.S. Geological Survey and Afghanistan’s Ministry of Mines and Industry.
Afghan President Hamid Karzai described the estimates as “very positive findings,” particularly since the country now imports most of its energy, including electricity.
“Knowing more about our country’s petroleum resources will enable us to take steps to develop our energy potential, which is crucial for our country’s growth,” said Karzai, whose government was created after the U.S.-led invasion in 2001 and later won national elections.
The $2-million US assessment, paid for by the U.S. Trade and Development Agency, was nearly four years in the making.
U.S. Interior Secretary Gale Norton, whose agency includes the Geological Survey, said the assessment would help Afghanistan better understand and manage its natural resources.
Afghanistan’s petroleum reserves were previously thought to hold 88 million barrels of oil and five trillion cubic feet of natural gas.
“There is a significant amount of undiscovered oil in northern Afghanistan,” said Patrick Leahy, the U.S. Geological Survey’s acting director.
Officials anticipate companies could begin energy exploration in two or three years.
So is Afghanistan about to emerge as a major new oil supplier, and is all of this a surprise to the Bush administration? Russian technicians discovered oil in Afghanistan in 1960. The New York Times reported on May 13, 1960 (sorry, no link) that the reserves were estimated at 300,000,000 barrels, and “significant gas deposits were also reported.” adding that “the problem of getting the oil over the Hindu Kush Mountains appears to be insurmountable.”
Technology has changed. Why do I doubt that this comes as a major surprise to the Bush administration, and why is the discovery of a major new oil field in Mexico big news to the U.S. mainstream media, while similar finds n Afghanistan barely merit ink?
Finally, is it a coincidence that the Bush administration seems to obsess over Iraq, Iran, Afghanistan and Venezuela, all of which sit atop considerable reserves of black gold?
