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Oil output soars as Iraq retools

The Seattle Times -- BAGHDAD — Despite sectarian bombings and political gridlock, Iraq's crude-oil production is soaring, providing a singular bright spot for the nation's future and relief for global oil markets as the West tightens sanctions on Iranian exports.

The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in the Organization of Petroleum Exporting Countries (OPEC) for the first time in decades.

Energy analysts say the Iraqi boom — along with increased production in Saudi Arabia and the near total recovery of Libya's oil industry — should cushion oil markets from price spikes and give the international community additional leverage over Iran when new sanctions take

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Submitted Jun 03, 2012 By: angel4me

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Tegger Champion Author Ontario Posts:3,103 Points:1,642,810 Joined:Nov 2005	Message Posted: Jun 3, 2012 9:07:14 PM Ignore Tegger Report Abuse OK
Fhuang66 Champion Author Cleveland Posts:1,317 Points:908,885 Joined:Oct 2005	Message Posted: Jun 3, 2012 9:06:00 PM Ignore Fhuang66 Report Abuse Hope it will ease the gas pump price.
azadus All-Star Author Houston Posts:554 Points:110,975 Joined:Mar 2012	Message Posted: Jun 3, 2012 9:02:50 PM Ignore azadus Report Abuse ok
toadNY Champion Author Albany Posts:7,027 Points:1,510,225 Joined:Apr 2008	Message Posted: Jun 3, 2012 9:01:59 PM Ignore toadNY Report Abuse Time to Pay back the soldiers who free them! All gave some, Some gave All!
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Jun 3, 2012 9:01:27 PM Ignore Agarre Report Abuse Oho
TDIdave Champion Author California Posts:5,043 Points:1,221,715 Joined:May 2006	Message Posted: Jun 3, 2012 9:00:28 PM Ignore TDIdave Report Abuse Offsets the Iran boycott. Cool.
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:398,600 Joined:Jan 2012	Message Posted: Jun 3, 2012 8:57:05 PM Ignore Shakleelady31 Report Abuse Ok.
LSU_TIGERS_dmb Champion Author Louisiana Posts:1,714 Points:617,295 Joined:May 2011	Message Posted: Jun 3, 2012 8:55:50 PM Ignore LSU_TIGERS_dmb Report Abuse Thank you President George Bush.
honkerman Champion Author San Jose Posts:44,171 Points:2,393,095 Joined:Jul 2004	Message Posted: Jun 3, 2012 8:55:35 PM Ignore honkerman Report Abuse Good for Iraq. Hope they spend the money wisely but I won't bet on it.
BackwoodsPundit Champion Author Richmond Posts:5,179 Points:1,009,480 Joined:Oct 2005	Message Posted: Jun 3, 2012 8:55:31 PM Ignore BackwoodsPundit Report Abuse So long as it keeps flowing - between factions inside Iraq, terrorists, and their neighbors in Iran, this is good news.
A2J Champion Author Richmond Posts:3,065 Points:600,900 Joined:Aug 2011	Message Posted: Jun 3, 2012 8:55:07 PM Ignore A2J Report Abuse Iraq ?
geoutpb Champion Author Midland Odessa Posts:4,608 Points:1,063,285 Joined:Dec 2006	Message Posted: Jun 3, 2012 8:54:42 PM Ignore geoutpb Report Abuse Some one will always be a willing buyer.
Daddybud Champion Author North Carolina Posts:6,275 Points:1,361,755 Joined:May 2009	Message Posted: Jun 3, 2012 8:53:02 PM Ignore Daddybud Report Abuse County has to make money.
CAD69 Champion Author Milwaukee Posts:3,186 Points:842,240 Joined:Nov 2010	Message Posted: Jun 3, 2012 8:52:26 PM Ignore CAD69 Report Abuse Who needs Iranian oil!
Beauff Champion Author Cleveland Posts:1,211 Points:602,685 Joined:Sep 2008	Message Posted: Jun 3, 2012 8:50:34 PM Ignore Beauff Report Abuse k
shaun_smith10 Rookie Author Texas Posts:96 Points:12,415 Joined:May 2012	Message Posted: Jun 3, 2012 8:45:59 PM Ignore shaun_smith10 Report Abuse ok
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Jun 3, 2012 8:43:49 PM Ignore jessek Report Abuse We'll see.
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: Jun 3, 2012 8:34:17 PM Ignore uptherefiners Report Abuse almost meaningless
bojiway1 Champion Author Minnesota Posts:2,029 Points:475,035 Joined:Dec 2011	Message Posted: Jun 3, 2012 8:34:09 PM Ignore bojiway1 Report Abuse I agree
BWALL2700 Champion Author Illinois Posts:2,174 Points:195,735 Joined:Apr 2011	Message Posted: Jun 3, 2012 8:34:08 PM Ignore BWALL2700 Report Abuse Let them drink their oil.
boatcrazyinme Champion Author Maine Posts:1,923 Points:547,070 Joined:Apr 2010	Message Posted: Jun 3, 2012 8:32:50 PM Ignore boatcrazyinme Report Abuse hope it keeps going down.
goodbuy Champion Author Michigan Posts:7,648 Points:1,419,180 Joined:May 2005	Message Posted: Jun 3, 2012 8:29:17 PM Ignore goodbuy Report Abuse Good news to my ears.
1mrtym Veteran Author Houston Posts:457 Points:92,475 Joined:Mar 2012	Message Posted: Jun 3, 2012 8:27:18 PM Ignore 1mrtym Report Abuse ok
Feud Champion Author Ontario Posts:2,066 Points:303,990 Joined:Feb 2007	Message Posted: Jun 3, 2012 8:26:12 PM Ignore Feud Report Abuse OK
walkingtall Champion Author Toronto Posts:3,979 Points:1,117,680 Joined:Nov 2004	Message Posted: Jun 3, 2012 8:26:05 PM Ignore walkingtall Report Abuse Oil output soars as Iraq retools,but will they repay the billions we spent enabling them to do this.
THX138 Champion Author San Francisco Posts:2,544 Points:1,010,985 Joined:Apr 2010	Message Posted: Jun 3, 2012 8:25:54 PM Ignore THX138 Report Abuse Oil output soars right along with soaring gas prices
CaesarI Sophomore Author Augusta Posts:212 Points:26,640 Joined:Nov 2011	Message Posted: Jun 3, 2012 8:24:52 PM Ignore CaesarI Report Abuse hope it continues
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Jun 3, 2012 8:24:28 PM Ignore mgune9 Report Abuse good news
mnorthwood13 Champion Author Michigan Posts:1,385 Points:761,235 Joined:Apr 2010	Message Posted: Jun 3, 2012 8:23:41 PM Ignore mnorthwood13 Report Abuse Good for them! Overtake Iran!
RoadKing95 Champion Author San Jose Posts:20,532 Points:3,599,240 Joined:May 2003	Message Posted: Jun 3, 2012 8:23:35 PM Ignore RoadKing95 Report Abuse I find it extremely disheartening that there are so many here that think that Iraq owes us. For what? Going in and distorting their country for no good reason. I guess you are still believing the lies GW & company fed you. Had we not gone in there and concentrated our efforts on Afghanistan we would have been out of there long ago.
TelsaOR Champion Author Oregon Posts:3,561 Points:732,890 Joined:Jan 2011	Message Posted: Jun 3, 2012 8:22:22 PM Ignore TelsaOR Report Abuse Stocking up for the long haul.
methaneman Champion Author Minnesota Posts:2,608 Points:1,283,435 Joined:May 2002	Message Posted: Jun 3, 2012 8:20:15 PM Ignore methaneman Report Abuse pump it out!
heysailor Champion Author Pittsburgh Posts:9,567 Points:2,329,645 Joined:Mar 2006	Message Posted: Jun 3, 2012 8:19:02 PM Ignore heysailor Report Abuse Good - maybe the oil money will get to the people.
99church Champion Author Indiana Posts:1,801 Points:358,040 Joined:Oct 2011	Message Posted: Jun 3, 2012 8:18:49 PM Ignore 99church Report Abuse keep em pumping, lets get everybody up and pumping to capacity
autohio Champion Author Ohio Posts:3,755 Points:815,475 Joined:Jan 2011	Message Posted: Jun 3, 2012 8:14:23 PM Ignore autohio Report Abuse Good for them
muquee Champion Author Harrisburg Posts:2,416 Points:518,720 Joined:Nov 2011	Message Posted: Jun 3, 2012 8:13:39 PM Ignore muquee Report Abuse Let's focus on our own pumping.
Colts13 Champion Author Indiana Posts:1,555 Points:545,485 Joined:Mar 2011	Message Posted: Jun 3, 2012 8:11:32 PM Ignore Colts13 Report Abuse Keep on pumping.
rampower80 Champion Author Kentucky Posts:2,024 Points:457,915 Joined:Jan 2012	Message Posted: Jun 3, 2012 8:08:42 PM Ignore rampower80 Report Abuse It's about time we get a little payback from our incursion.
fire@53 Champion Author Philadelphia Posts:11,813 Points:2,766,050 Joined:May 2003	Message Posted: Jun 3, 2012 8:05:15 PM Ignore fire@53 Report Abuse Yes, but they have snubbed many US companies to help them rebuild.
GasPriceHelp4u Champion Author Dayton Posts:2,667 Points:564,800 Joined:Jul 2008	Message Posted: Jun 3, 2012 8:05:13 PM Ignore GasPriceHelp4u Report Abuse How can we take advantage of that?
EMoe57 Champion Author Jacksonville Posts:4,597 Points:1,012,040 Joined:Apr 2009	Message Posted: Jun 3, 2012 8:03:50 PM Ignore EMoe57 Report Abuse Good on them
pnd1 Champion Author Tallahassee Posts:5,201 Points:1,065,110 Joined:Jul 2009	Message Posted: Jun 3, 2012 8:03:43 PM Ignore pnd1 Report Abuse We need to end our dependance on OPEC.
Blondie22OH Champion Author Cincinnati Posts:1,535 Points:336,270 Joined:Feb 2012	Message Posted: Jun 3, 2012 8:03:21 PM Ignore Blondie22OH Report Abuse Wish we could pump our own oil.
melindanc Rookie Author North Carolina Posts:31 Points:15,225 Joined:Dec 2011	Message Posted: Jun 3, 2012 8:02:38 PM Ignore melindanc Report Abuse This is fine in all, but how will it help us out?
skyking19 Champion Author Little Rock Posts:1,995 Points:1,695,970 Joined:Jan 2007	Message Posted: Jun 3, 2012 8:01:41 PM Ignore skyking19 Report Abuse Should help keep prices stable.
egd Champion Author Twin Cities Posts:8,077 Points:2,116,250 Joined:Mar 2005	Message Posted: Jun 3, 2012 7:53:14 PM Ignore egd Report Abuse OPEC needs to keep prices low, to keep oil as primary energy
milamgasprices Rookie Author Austin Posts:77 Points:18,200 Joined:May 2012	Message Posted: Jun 3, 2012 7:53:07 PM Ignore milamgasprices Report Abuse thats good
vamike Champion Author Virginia Posts:5,300 Points:1,360,950 Joined:Dec 2008	Message Posted: Jun 3, 2012 7:52:33 PM Ignore vamike Report Abuse Whatever
Senrac Champion Author Lincoln Posts:1,594 Points:305,635 Joined:Mar 2010	Message Posted: Jun 3, 2012 7:52:21 PM Ignore Senrac Report Abuse pump it pump it
DYSKYPILOT Champion Author Fort Worth Posts:2,882 Points:621,705 Joined:Mar 2006	Message Posted: Jun 3, 2012 7:50:21 PM Ignore DYSKYPILOT Report Abuse Thanks Iraq!
txkrb Champion Author Texas Posts:1,553 Points:635,565 Joined:May 2011	Message Posted: Jun 3, 2012 7:48:07 PM Ignore txkrb Report Abuse Maybe they can pay ther U.S. back for the rebuilding etc to savannahoaks; This is about Iraq not Iran, the sanctions are on Iran
tidalwave3 Champion Author Tallahassee Posts:1,294 Points:1,460,075 Joined:Jun 2008	Message Posted: Jun 3, 2012 7:45:29 PM Ignore tidalwave3 Report Abuse George W may look RIGHT and the US Dollar climbs to 82 :)