http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7B23CF762F-A6D3-4A30-A2DE-65C43818B4F9%7D&keyword=Sadly, Iraq's output is 600,000 barrels/day or 2% of what the world needs.
2% and THAT is the reason emphasized as to why oil is so pricey?!
Now read this:
"You can measure progress in terms of oil sold on the market on behalf of the Iraqi people," Bush said during a press conference in the Rose Garden.
Putting Iraqi oil output back on track is crucial for the country, which earns around 90% of its total revenue from crude sales.
It's also important for the global economy since Iraq supplies more than 2% of the world's oil. The loss of some 600,000 barrels a day of Iraqi crude in recent months has been one of the main factors underpinning high oil prices, sector analysts say.Paragraph 3 speaks volumes...
"I believe we will have a partner to do the hard work," Bush said.Of course. Americans won't do it. :eyes:
Now read this:
"To me, it's an interesting idea for them to consider to basically say that, "No matter where you live in the country, you have a stake in the future of your country because of your ownership in our energy assets'," he said.Gee, America IMPORTS 60% of its needs. Does this mean we're owned?