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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (24060)	6/22/2003 8:33:53 PM
From: KyrosL	Read Replies (1) \| Respond to of 206325

Alas, those heralded Iraqi exports are oil that has been produced and stored in Turkish holding tanks before the war. Current oil production in Iraq is barely enough to supply Iraq's own needs and is in danger of grinding to a screeching halt again because of sabotage. The latest from the Iraqi national oil company is that it will take 18 months to restore oil exports to the pre-war level. I am at a loss to understand this number. It took Kuwait 7 months to restore oil production to its pre-war levels, after Saddam blew up every single Kuwaiti oil well before withdrawing from Kuwait. The assertions that Iraq would have produced an instant 10 million barrel per day gusher that would have kept oil prices down for the foreseeable future seem like a cruel hoax.