Lollipops and Unicorns for Everybody in Iraq!
It must be National Optimism Month in Iraq ...
And by 2016, Iraq expects to produce 9 million barrels of oil per day.
Well, the first step toward progress will be ending the damned civil war that is raging in Iraq right now. But the Iranians -- who are pulling the strings with the Shi'a death sqads -- show no intention of slowing down. Why should they? They want to own half of Iraq, to incorporate it into "Greater Iran".
And the Sunnis and Kurds aren't about to let that happen without a fight. As a result, you don't have to be the Amazing Karnak to see that Iraqi oil production will remain low for some time to come.
Iraq expects its daily oil production to reach 6.0 barrels per day by 2012 and be challenging Saudi Arabia as the world's largest producer by 2015, Iraq's Oil Minister Hussein Shahristani said last month.This from a country that produces -- at BEST -- 3.5 million barrels a day before the FIRST Gulf War. Iraq produces at most 2.4 million barrels per day now, and its oil infrastructure is coming apart at the seams due to constant bombings and other sabotage
And by 2016, Iraq expects to produce 9 million barrels of oil per day.
Well, the first step toward progress will be ending the damned civil war that is raging in Iraq right now. But the Iranians -- who are pulling the strings with the Shi'a death sqads -- show no intention of slowing down. Why should they? They want to own half of Iraq, to incorporate it into "Greater Iran".
And the Sunnis and Kurds aren't about to let that happen without a fight. As a result, you don't have to be the Amazing Karnak to see that Iraqi oil production will remain low for some time to come.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 8:12 AM
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