Gradually turns attention to the affairs of Iraq, and now has become a focus in the newspapers and research centers on the amount of the steadfastness of the democratic experiment and the relationship of Baghdad, Arbil and the level of living and economic development.
And published CNN that American article within these frameworks entitled »Is it possible for Iraq to reach its oil» which she said: the debate about whether the war in Iraq for oil, or else did not reach the result, but one thing is for certain that the money began to flow profusely on Iraq.
GDP has risen to several times after the war. Nevertheless, the Iraqi per capita income is lagging behind that of the oil-rich neighboring countries such as Kuwait and Saudi Arabia, but also underdeveloped countries start-ups in the economic development including Botswana, Turkmenistan and Albania. This is despite the fact that Iraq sits on the fourth largest oil reserves in the world and could double its production in the next few years.
The question is: Will Iraq be able to access his abilities?
Iraq is currently pumping about 3 million barrels per day, but the International Energy Agency said recently: that Iraq could be pumping
more than any other product of oil if the main dilemmas has been resolved – governance, deteriorating infrastructure and inadequate water supply -.
In order to exceed Iraq, Russia and even Saudi Arabia, it would need to invest about $ 530 billion in the infrastructure of the country, according to the International Energy Agency. But even if Baghdad was able to mobilize this level of investment from oil revenues, they face some of the political challenges unique and that can also be disabled, including the tensions between the central government and the Kurdistan Regional Government in northern Iraq. (more…)