Well, who do you believe? http://blogcritics.org/archives/2006/12/28/093442.php
" Iraq's oil production hit a post war high of 2.5 million barrels per day starting this summer and production is near capacity, according to Iraq's Oil Minister Hussain al-Shahristani. Based on current prices oil revenues are likely to total more than $41 billion this year, which reflects both an increase in price and in production. Every month this year has shown an increase in production over the same month in 2005 with an estimated increase in overall production of at least 17%. If production continues to increase, it's likely that the Iraqi oil fields will be up to full production at pre-war capacity by the end of 2007, and the Oil Ministry has set a very conservative target of 4 million barrels per day by 2010. This leaves the government with an awful lot of money and they're scrabbling around to find ways to spend it effectively." --- David Crooks <[EMAIL PROTECTED]> wrote: > On Tuesday, January 16, 2007 1:52 PM Michael Madigan > wrote: > > >Yes we are, or more specificly, the world oil > supply is. That keeps > oil prices lower than it > >would otherwise be. > > Very little oil is being produced from Iraq > according to: > http://en.wikipedia.org/wiki/Oil_reserves (I also > included the text > about Iran for comparison) > > Iran > Iran has the world's second largest reserves of > conventional crude oil > at 133 gigabarrels, according to the CIA World > Factbook, although it > should be noted that both Canada and Venezuela have > larger reserves if > Non-conventional oil is included. Iran is the second > largest oil holder > globally with approximately 10% of the world's oil. > > Iran averages about 1.5 gigabarrels per year, which > is a significant > decline from the 6 gigabarrels per year it produced > when the Shah of > Iran was in power. The United States prohibits > imports of oil from Iran, > which limits its exposure to an Iranian oil cutoff, > but does not reduce > the likelihood that an interruption of Iranian oil > would cause a spike > in world oil prices. American pressure on Iran to > renounce Iran's > nuclear program makes the possibility of military > confrontation quite > high, and the political risks of Iranian oil far > outweigh any geological > ones. > > > Iraq > Iraq has the fourth largest reserves of conventional > oil in the world at > 112 gigabarrels. Despite its vast oil reserves and > low costs, production > has not recovered since the US-led 2003 invasion of > Iraq. Constant > looting, insurgent attacks, and sabotage in the oil > fields has limited > production to around 0.5 gigabarrels per year at > best. Political risk is > thus the main constraint on Iraqi oil production and > likely to remain so > in the near future. > > > _______________________________________________ > Post Messages to: [email protected] > Subscription Maintenance: > http://leafe.com/mailman/listinfo/profox > OT-free version of this list: > http://leafe.com/mailman/listinfo/profoxtech > ** All postings, unless explicitly stated otherwise, > are the opinions of the author, and do not > constitute legal or medical advice. This statement > is added to the messages for those lawyers who are > too stupid to see the obvious. > Saddam - Hung for the Holidays http://www.cafepress.com/rightwingmike _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
