Mideast Wary Over Iraq-Iran Plan to Unite in Oil Market -- Voice of America
WASHINGTON — Iraq is planning to triple its oil-producing capacity by 2020, hoping to leverage its natural resources in a power arrangement with Iran that could challenge Saudi Arabia’s domination of the world oil market.
So far, most of the talk has come from Iraqi officials who have been expressing confidence the country can again become a major regional player despite an upsurge in violence that killed 1,000 people last month, and nearly 9,000 last year.
In London last week, Iraq's Deputy Prime Minister for Energy Hussain al-Shahristani announced that Iraq plans to triple its oil output to nine million barrels per day by the end of the decade. And he hinted that is just part of Iraq’s plans.
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Update: Iraq targets Saudi oil dominance, plans to triple output by 2020 -- World Tribune
My Comment: My commentary on this oil alliance can be read here.
1 comment:
It is just a matter of time the Sunni Muslims who OWN the OPEC will pay the price for funding and arming terrorism. As well as being on the wrong side of supporting Israeli Boycott fueling further terrorism and instability.
Islamic Terrorism is almost exclusively Sunni. All Islamic Dictators and Despotic Monarchs are White Abrahamic-Circumcised Sunnis.
All fracking oil will be consumed by its own domestic markets.
Therefore, the world's largest demand and consumers of petroleum - China & India - will be well advised to hedge against Sunni Oil. It will blow up.
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