diet coke for breakfast

Monday, June 16, 2003

Posted by Jake | Iraq and the oil market

As new investment increases the daily production capacity in Iraq, both the current interim authority and, eventually, a new Iraqi government will want to push up its exports as fast as possible, whatever is ultimately decided about its currently inactive membership of OPEC. The cash is urgently needed to finance reconstruction of the economy. That is likely to make it far more difficult for OPEC to impose its will on the oil market in the future.

I got the world's smallest violin playing for OPEC. Good riddance.


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