Quote:
Originally Posted by RIJIMMY
oil is one thing that makes no sense to me. During the 90s, Iraq could olny sell oil via the food for oil program. I'd have to assume that the volume was limited. Now, you'd think there would be an open market and Iraq's oil would be up for sale in volumes, yet - prices are through the roof. Makes no sense
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Iraq's oil production was limited mostly because they had a very weak production infrastructure, which hasn't really improved all that much post war given problems with insurgents and poor management.
The good news is there's supposed to be very large reserves left in Iraq, if anyone can get at them
-spence