Iraq's oil fields
Just wondering: How does the war in Iraq affect the worldwide oil supply (and hence our skyrocketing prices)? According to MarketWatch,
Iraq's oil exports were shut down for a time Monday because of a lack of power in the central and southern part of the country, according to the Associated Press. On Monday afternoon, officials said exports have partially resumed following the blackout, which was blamed on sabotage.Just wondering . . .
...
The "shutdown of production in Iraq is an ominous sign of just how vulnerable those supplies are to the strained Iraqi infrastructure," said commodities trader Kevin Kerr, who edits the Global Resources Trader investment letter, a service of MarketWatch, the publisher of this report.
"The deliveries of oil to the Ceyhan (Turkey) port have all but stopped due to lack of power and at this rate, there will certainly be an impact on crude supplies," said Kerr. "There really is nobody with spare capacity right now."
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