The benefits and the curse of oil (Zawya)

17 August 2008, 4:40 am

IN THE second quarter of the year, an American military auditor recently reported, Iraq's oil production averaged over 2.4m barrels a day, the highest level since America invaded Iraq in 2003, and a marked improvement on last year's average of around 2m b/d. Rising output, along with the high (if now falling) price of oil, should pump up Iraq's oil revenues to almost $80 billion this year.... read more

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