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Author Topic: Oil Industry in Iraq Faces Setback to Revival Back to Topics
NOTSOGRN

Champion Author
Michigan

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Joined:Dec 2007
Message Posted: Jun 14, 2014 1:09:44 AM

After a long history of wars and sanctions Iraq re-emerged as a critical source of oil in recent years. Mounting Iraqi production helped to ease world oil prices despite the tightening restrictions on Iran and tanking exports from Libya. And Western and Chinese oil companies rushed back, revitalizing long-neglected oil fields in the north and south.

Now suddenly all that progress has been put in jeopardy with the intense military offensive by extremist insurgents.

The stakes for the oil markets are high as the Iraqi government tries to gain control over the situation. An eventual decline in Iraqi exports would put pressure on China and India to increase their imports of Iranian oil again, weakening the United States government’s position in negotiations with Tehran over nuclear policies.
Visit The New York Times for full article
REPLIES (newest first) Post a Reply
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jrs4125
Champion Author Indiana

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Message Posted: Jun 15, 2014 9:06:19 AM

The consumer will always be the one to pay the price as long as the world is dependent on fossil fuel.
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ktbaeohana
Champion Author Las Vegas

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Message Posted: Jun 14, 2014 7:11:25 PM

not surprise.
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bwatchingu
Champion Author Arkansas

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Message Posted: Jun 14, 2014 1:47:16 PM

Excuses,excuses.Just more excuses!
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Dellospidale
Champion Author Virginia

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Points:372,290
Joined:Sep 2013
Message Posted: Jun 14, 2014 12:28:29 PM

dealing with underhanded communist China and Muslim radicals is a losing game, no body wins and the US suffers financial losses. Time to get some smart politicians in office.
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coughlin
Champion Author San Jose

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Message Posted: Jun 14, 2014 11:18:15 AM

It's their own fault. Let them work it out on their own.
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txequitygas
Champion Author Houston

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Joined:Dec 2012
Message Posted: Jun 14, 2014 10:15:32 AM

lack of Obummer leadership again, left to early and now it starts again.
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Pramodsharma
Champion Author Richmond

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Message Posted: Jun 14, 2014 9:03:19 AM

Sacrificed for nothing
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Eagle3236
Champion Author Missouri

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Message Posted: Jun 14, 2014 8:52:10 AM

This is another reason the Keystone Pipeline should have been built.
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Hop1LA
Champion Author Baton Rouge

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Message Posted: Jun 14, 2014 8:06:29 AM

Whatever
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scottyiam
Champion Author Reading

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Joined:Jan 2013
Message Posted: Jun 14, 2014 8:02:31 AM

Ok, $3.65 here
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CarefulDriver
Champion Author Ann Arbor

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Message Posted: Jun 14, 2014 7:55:06 AM

Interesting.
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ovillaone
Champion Author Dallas

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Message Posted: Jun 14, 2014 7:53:03 AM

Ok
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Bobmilan
Champion Author Louisville

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Message Posted: Jun 14, 2014 7:51:04 AM

But Obama said it was over, Al-Queda was done and time to swap prisoners???

Sure glad I do not have voting for Obama and lib Congress on my conscience.
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Wally3023
Champion Author Pennsylvania

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Message Posted: Jun 14, 2014 7:38:16 AM

Good to know. Very informative.
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humblepie
Champion Author Toledo

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Message Posted: Jun 14, 2014 7:19:59 AM

ultra weak foriegn policy doesnt help america right now
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VMIJim
Champion Author Alabama

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Message Posted: Jun 14, 2014 7:08:08 AM

Same old crap, different day when it comes to price increase excuses from speculator vultures & the liberal media. Meanwhile, the roller coaster ride of fuel prices under Oblamer continues amid all his lies, coverups, scandals, failed economic & foreign policies, abuses of power, gross incompetence, & major campaign contributions from Big Oil/Utilities. Working class taxpayers will continue to be screwed at the pump, with our utilities, & with our taxes while Oblamer pushes his tree hugging, stimulus sucking, union dominated, out of control spending, ultra liberal agenda at our expense. Stop this madness in Nov 2014 & start taking our country back before it's too late!
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MImusicman
Champion Author Michigan

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Message Posted: Jun 14, 2014 6:19:06 AM

This is due to Obama's bad foreign policies and playing politics with our troops
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jsfb6pts
Champion Author Michigan

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Message Posted: Jun 14, 2014 5:50:44 AM

What Revival ?
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iFueler
Champion Author Durham

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Message Posted: Jun 14, 2014 3:47:47 AM


     time will tell what happens
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tbelstone
Champion Author Jacksonville

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Message Posted: Jun 14, 2014 3:43:47 AM

Greed...
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OHMS
Champion Author Orange County

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Message Posted: Jun 14, 2014 2:08:43 AM

YA THINK? TELL THE PREZ
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