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Originally Posted by dc_dux
* Exports averaged 1.6 million BPD throughout the quarter and closed at 1.67 million BPD for June, slightly above the end-state goal of 1.65 million BPD.
* The volatile security situation and limited provisions for sustainment continue to be challenges for developing the sector.
* Corruption threatens not only Iraq’s capacity to fund new capital investment, but also its ability to sustain and increase production.
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Ding, ding, ding. This is probably why we never hear about it on the news. There's not really much good news to report in this sector, and unlike the bad news about deaths and such, when people here about oil, especially from a country we are occupying, they probably want to hear something good.
I won't go on a rant about corruption in Iraq on this one... I'll either be too right, or absolutely wrong, and both situations would scare me (I'd rather be found wrong though).
I'm sure most of that oil not being exported is going to our military installations to feed our war machines, but it would not surprise me if we are importing oil from halfway across the world to go to our military bases. Some of the other frivolous expenditures I saw while out there, this would not surprise me one bit.
Thanks for the info dc_dux, and thanks for asking this question high-jinx, I've been curious about this myself.
Oh, and when reading about Halliburton, also look up KBR (Kellog-Brown-and-Root, Root may be spelled differently), they hold most of the contracting positions out in Iraq, and this is where my bitching about corruption would start coming into play. I believe they are a subsidiary of Halliburton.