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News Link • Iraq

Filling the Punch Bowl With Iraqi Oil

• http://www.thedailybell.com, By Staff Report
"We feel the world needs to be assured of fuel for economic growth," Hussain al-Shahristani, Deputy Prime Minister for Energy in Iraq told oil industry delegates attending a Chatham House Middle East energy conference. Al Shahristani said on Tuesday that Iraq plans to boost its capacity to produce oil to 9m barrels a day (bpd) by the end of the decade as Baghdad rushes to bolster its economy, which is still shattered by war and internal conflict. – UK Telegraph
Dominant Social Theme: Iraq intends to flood the market with cheap oil. What a break!
Free-Market Analysis: Again we see our Wall Street Party meme buttressed. Does anyone believe that the puppet government of Iraq does anything without checking with the United States?
This begs credulity. We're supposed to believe the idea of opening the oil taps is totally an Iraqi idea. If you believe that, we have a bridge in Brooklyn we want to sell you.

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