s into a really bad funk.Don't ya love it?? 
Posted on 06/25/2006 3:58:06 PM PDT by Jet Jaguar
IRAQ'S oil production is now over 2.5 million barrels a day, a record since the fall of Saddam Hussein, the country's oil minister said overnight.
Oil Minister Hussein Shahristani said on US television that Iraq hopes to be producing 4.3 million barrels by 2010 and to be challenging Saudi Arabia as the world's largest producer by 2015.
Production was about 2.5 million barrels a day when president Saddam Hussein was deposed by US-led forces in 2003. It then collapsed to virtually nothing and has been slow to rebuild because of insurgent attacks and other problems.
In an interview with CNN television, Mr Shahristani emphasised that only one month and three days after the Iraqi government took office, "we have been able to break a record".
"Today's oil production was in excess of 2.5 million barrels a day. And that's a record since the fall of Saddam's regime in April 2003," he told CNN's Late Edition program.
He said Iraq hopes to increase production to 2.7 million barrels by the end of the year and to 4.3 million barrels by 2010, which would be a new all-time record for Iraq. The minister said Iraq's highest oil production was 3.5 million barrels a day.
"Our ultimate aim is to reach more than six million barrels a day, hopefully by 2012.
"And needless to say, Iraq holds one of the largest reserves of oil and gas in the world, and we are determined to prove it has the largest world reserve."
Iraq Oil Output Lowest Since Invasion Washington Post ^ | Ap 28 06 | Washington Post
Posted on 04/28/2006 10:01:36 PM EDT by churchillbuff
http://www.freerepublic.com/focus/f-chat/1623573/posts
The dems are having a bad month....lol
But.. But... But...... I thought Saddam was better at supplying oil and Iraq was a peaceful frolicking place under his benificient rule. (/sarc)
The biggest obstacle has been terrorist sabotage of the pipelines and installations. This article makes it sound like that is a diminishing problem. If so, a very optimistic sign for Iraq's future solvency and prosperity.</p>
And Monday, contrary to logic, the price for oil will once again rise!
That's my read.
Sadly, you are correct.
Will the U.S. benefit anytime SOON?
Till we find an ALTERNATIVE source?
"And Monday, contrary to logic, the price for oil will once again rise!"
Of course! Some type of event MAY interrupt future supply.
Until we start building more refineries, and drilling off shore FL and ANWR, we will make no headway.
Unless environmental laws are relaxed.
There is interesting news on the alcohol front. Fermentation to produce butanol.
Butyl alcohols (there are several) have nearly the BTU content of gasoline and mix nearly completely versus ethanol.
It's too early to say whether the future is butanol, but it certainly sounds interesting.
I hope the Maliki administration is careful about who it invites from the RAT delegation. I can see murtha, papalosi, and dean setting charges around the pipelines.
If this can translate into greater employment opportunities, both directly and indirectly, it will help to greatly improve life for all Iraqis and make things much more stable.
So what you're saying is:
AFP = "WOO-HOO!!"
Washington Post = "DANG BUSH!!!!"
That about sums it all up?
s into a really bad funk.Don't ya love it??
file this under "embargoed news"
But what about Iraq helping us out?
They should. Absolutely.
This is prewar oil (1990) so it doesn't really count. /sarc
LOL!
lol..no kidding.
I look forward to our gas prices dropping.
Bump to that!
ROTFLMAO!
Untrue. Iraq's oil production hit a peak of 3.5 million bpd just before Hussein invaded Kuwait back in 1990. It declined every year after 1990 until by 2002 "Iraq was producing only about 2.1 million barrels a day..."
Which is to say, the 2.5 million bpd that Iraq is producing today is already about 25% better than what Saddam Hussein could manage pre-invasion.
"Of course! Some type of event MAY interrupt future supply."
Iran refusing to negotiate.
With this report, we won't be trying to find an alternative anytime soon.
Thanks for the clarification.
As long N. Korea is still planning to TEST their DONG...and Iran continues with nuke nonsense...and the Gulf of Mexico sucks in hurricanes...bank on oil remaining high for the rest of the year...be even prepared for 100 a barrel...it really can happen based on those 3 planned/unplanned events alone...
Pump It Up!
We need 20$ oil to take care of a lot of mischief in the world.
Check out the recent news from DuPont and BP... Butanol seems to offer a lot of advantages.
I hope it is better than ethanol. My car does not 'like' ethanol and since my state 'ruled' that it be put in my tank..my car has been having problems.
Likewwise here.
Demand is rising even faster than Iraq's additional production.
You will never again see much lower gas prices.
LOL!
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