Oil and Gas Today with Chris Faulkner – Podcast #528

The U.S. got back into military action in Iraq recently, and you’d have to figure OIL was at the root of it.  The ISIS fighters set their sites on the Kurdish oil fields in Northern Iraq, and it was obvious they were going to easily take possession, unless stopped.  So air-strikes began to push the radicals back.

Iraq is a major oil producer, supplying 3-million barrels a day to the world market.  If that supply were disrupted, oil prices would likely shoot up 20-dollars a barrel or more.

I’m sad we’re involved in military action again in Iraq.  I’m more sad that we’re going to invest assets, and possibly more lives, and not come away with what we should have taken in the first place:  The oil.  All of it.

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