Monday, July 23, 2007

Iraq: Huge Unexploited Oil Resources


Kirkuk, the third largest city in Iraq, is unable to export its oil resources although its production capacity is 2.1 million barrels per day. This reflects the general situation in this country which enjoys huge oil resources which remain unexploited. Although Iraq owns the third oil reserve world-wide, its old infrastructure, and the consecutive sabotage since the American invasion in 2003, and the wide spread corruption are all factors that stop the country from exploiting this wealth. In addition to the current war on the different fronts in Iraq, there is another secret war which is the war of oil.