Christoph
05-03-07, 23:09
Iraq's oil industry has been crippled to almost nonexistence by violence, sabotage and corruption. Now an "oil law" has been approved by the Iraqi cabinet and will go before the parliament this month, says Christian Parenti.
Iraq's postwar oil bonanza remains a mirage. The country has the second- or third-largest reserves in the world, making petroleum the heart and vast bulk of its economy. Thus in March 2003 did Paul Wolfowitz assure Congress that Iraq would "finance its own reconstruction, and relatively soon." American planners predicted that Iraq's oil production would triple to a feverish 6 million barrels per day by 2010.
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http://www.middle-east-online.com/english/opinion/?id=19850
Iraq's postwar oil bonanza remains a mirage. The country has the second- or third-largest reserves in the world, making petroleum the heart and vast bulk of its economy. Thus in March 2003 did Paul Wolfowitz assure Congress that Iraq would "finance its own reconstruction, and relatively soon." American planners predicted that Iraq's oil production would triple to a feverish 6 million barrels per day by 2010.
....
http://www.middle-east-online.com/english/opinion/?id=19850