Iraq's oil production has fallen below prewar levels to its lowest point in a decade, depriving the country's fledgling government of badly needed income and preventing the United States from achieving one of its main reconstruction goals.
Iraq's oil wells — beset by equipment problems and saboteurs — are producing about 1.9 million barrels a day in net production, lower than the 2.6 million it was producing just before the 2003 U.S.-led invasion, according to the London-based Centre for Global Energy Studies (CGES).
Of the oil produced, about 500,000 barrels are consumed daily by Iraqis, while 1.4 million barrels are exported, CGES says. MORE
It just keeps getting worse. Iraq's lack of production is contributing to the world oil shortage. The Iraq war was all about oil. In the end, it gave more control over oil to Iran. And this is making the world a safer place for Americans?
No comments:
Post a Comment