Remember how our government told us that Iraqi oil would pay for this war? Two years after we invaded, Iraqi Oil Minister Ibrahim Bahr al-Uloum said on Friday that, "We are working hard and there could be incremental improvement as wells are repaired and production problems solved, but these would not boost output in major volumes."
The article from Reuters goes on to say:
Before the invasion, the country had been able to export more than two million bpd, even under United Nations sanctions.The U.S. had high hopes that open access to the world's second largest reserves would eventually boost output to as much as six million barrels daily.
The problems in the south forced Iraq to cut its crude contract sales to around 1.45 million barrels per day for the second half of 2005, a cut of 80,000 bpd over the first half.
More broken promises...
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