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Iraq is currently producing about 2 mil barrels a day. The biggest oil fields are in southern Iraq and the oil exports via the port city of Basra. Iran is a bigger threat to oil production and movement than the insurgents.
Exxon and BP now have a toehold in Iraq oil production via the TSC's as will other western companies and this will lead to expanding influence and control of Iraqi oil reserves. The pain of paying of $5 a gallon will lessen the backlash of public opinion with regard to the war being about oil. It will be ok with most people because reasonable people are more concerned about money than ideology.
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