Iraqis and Oil.. Whats Going On

[Jerry]

Here are alot of proposed questions we have as a whole...

What is the status of Iraq’s oil production?

How much oil is Iraq estimated to have?

Why are major oil companies not investing more in Iraq?

Is there any outside investment in Iraq’s oil sector?

How is Iraq’s oil revenue to be distributed?

Why did the government raise fuel prices in December 2005?

What was the public reaction to the price hike?

How much has the price of fuel increased?

Granted we as a forum know all the answers to these questions as we have been following the events in Iraq daily. However if you would like to see these Questions answered by The Council On Foreign Relations click the link below...
http://www.cfr.org/publication/9482/iraq_and_oil.html]

(On a side note)

When reading the CFR article in comparison to IIF, it amazes me just how far this Forum has come in regards to News and Analysis. My hats off to you guys...

Jerry

P.S. I had to include the statement of the year....

"Poor people don't have cars," Ahmed Chalabi told the Council on Foreign Relations. "Every time somebody fills their car with gas in Iraq, the government gives them a present of $30."

[MunnyBaggs]

Very interesting. For some reason I liked this question and response:

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How much has the price of fuel increased?

Since the December 15 elections, the price of fuel has risen fivefold. Last summer, Iraqis were paying roughly five cents per gallon; now they pay close to sixty-five cents. Experts expect future hikes in 2006 will bring fuel prices in line with Persian Gulf norms, currently around $1 per gallon.
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Somethings gotta give...............................

[MunnyBaggs]

Just wanted to add:

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Why are major oil companies not investing more in Iraq?

Iraq's poor security environment, experts say. Companies are reluctant to pay the high costs of protecting pipelines and refineries against insurgent attacks.
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Sounds like an indicator that is more important than some would believe.....

[tlagiloi]

It seems to me a move to begin raising the value of the dinar.
Forcing a higher cost on fuel needs seems initially to force a
devaluing, but in the long run it should increase the value as
long as progress towards stability continues.