Iraq oil exports surging
posted at 6:31 pm on June 3, 2012 by Jazz Shaw
Here’s a headline you probably didn’t see coming:
Oil Output Soars as Iraq Retools
Despite sectarian bombings and political gridlock, Iraq’s crude oil production is soaring, providing a singular bright spot for the nation’s future and relief for global oil markets as the West tightens sanctions on Iranian exports.
The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in OPEC for the first time in decades.
You may recall that the United States was involved in some sort of activity over there in Iraq until recently, though the details escape me at the moment. Oh, that’s right… it was a war. But if the Iraqis can manage to crank up production at the predicted volumes, it will do a lot to soften the threat of Iranian retaliation to sanctions. So who isn’t this good news for? Hugh Hewitt explains.
Dick Cheney’s Master Plan Backfires
Iraqi oil is easing the worldwide price, providing leverage over Iran in the negotiations over the latter’s nuclear program, and is likely to match Saudi output in a few years.
These are great benefits to the world, and they must be surprising to the left since George Bush and Dick Cheney invaded the country to get the oil. And the idea that Dick Cheney, pawn of Texas oil interests, forced an invasion that has now resulted in falling crude prices, well, that is going to give the left some headaches.
Not much more to add there. Have fun with it.
Breaking on Hot Air