266 comments on JHK: "A Hard Place"
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266 comments on JHK: "A Hard Place"
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But what I find most interesting are the rumors that Iraq doesn't have nearly as much oil as we thought. This was also reported at ASPO.
Supposedly, the U.S. conducted a survey of Iraq's oil reserves after the war. It is classified. It was supposed to be made public in 2004, but here we are, nearing the end of 2006, and it's still classified.
But the "whisper number" that has leaked is only 47 BBL. Not the 112 BBL claimed.
Why so low? Partly, for the same reason Kuwait's reserves are in question. When OPEC decided to base quotas on reserves, everyone juiced up their numbers. Partly, because the oil fields have been severely damaged by the way they were produced during the ten years of sanctions.