Thursday, April 01, 2010
Iraq’s Oil Production Targets Unrealistic
In January I commented on an article at The Oil Drum, which discussed the possibility that, if Iraqi oil production were to rise quickly enough, it could put off peak oil for a decade. However, recently a number of articles have thrown much cold water on this hope, and when everything is considered together, there seems to be little possibility of an increase in output that could make any difference. Those who are interested in this topic are urged to read the four articles linked above. In sum, Iraq indeed has a lot of high-quality oil waiting for the drill, but too many factors militate against the leap in production that the world hopes for.