MAKING IMPERIALISM PAY:

Iraq promises to boost oil output (BBC, 5/09/05)

Iraq is hoping to boost its oil exports back to the levels of a year ago in order to re-assert its role in oil cartel Opec, its new oil minister says.

Ibrahim Bahr al-Uloum, one of the final appointments to Iraq's new government, promised to make boosting production his highest priority.

Frequent sabotage has handicapped Iraq's efforts to get production back to the levels seen before March 2003.

Iraq currently pumps 1.7 million barrels a day, and exports 1.4 million.

Before the US-led invasion which ousted Saddam Hussein, daily production was some 3 million barrels.

Iraq is reckoned to have the world's second largest oil reserves after Saudi Arabia, and is dependent on oil for almost all its export earnings

About time we got something out of this war...besides a democratic government in Iraq, Libyan reform, Palestinian elections, peace in the Sudan, Syria out of Lebanon....

Posted by Orrin Judd at May 9, 2005 8:49 AM