Posted on 10/09/2012 11:20:42 AM PDT by Brad from Tennessee
LONDON (CNNMoney) -- Iraqi oil production could double by the end of this decade, putting the country on track to become the second-biggest supplier to world markets after Saudi Arabia by the 2030s, the International Energy Agency said Tuesday.
Production could reach 6.1 million barrels per day by 2020, up from the current output of around 3 million barrels a day, and top more than 8 million barrels by 2035, the Paris-based agency said in a special edition of its World Energy Outlook.
Iraq's ability to increase exports will have a major impact on world markets. . .
(Excerpt) Read more at money.cnn.com ...
It's not altogether different from what Alaska does, either. It strikes me, though, as a sort of welfare check [same as Alaska's.]
I'd have liked to see the Iraqis give ownership of the oil industry to the people. Create a private corporation and issue shares of stock to each citizen. That would have given everyone a stake in its performance and would have curtailed the government's ability to play shenanigans with oil money.
It is only through private ownership that countries can escape the oil "curse."
Good plan. If someone wanted to start a business or go to college they could sell the stock or use it as collateral.
When the new GM issued their IPO it was handled by financial entities close to the White House. The first day or so retail investors could not buy the stock.
What Obama could have done was to offer shares first to individuals and families and hype it like a war bond—”Own a Piece of American Prosperity” or something.
Like you said this would have given citizens a stake in GM’s future. Instead, half the population won't buy GM.
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