September 22, 2010
Blocs Feud - They Must Work Together
September 21, 2010
Iraq Could Become an Economic Giant
Iraq has the world's 4th largest oil reserves behind Saudi Arabia, Venezuela and Iran. However, its current production of 2.5 million barrels/day is not very impressive or all that lucrative considering the amount of reserves Iraq has. This has been due to old, inadequate infrastructure and also seven years of war that has physically and emotional torn the country apart. Iraq has always been a country known for its economic potential, but now it is time to take advantage of their opportunities. If done right, Iraqi will become an economic giant by reaping in oil profits.
Investments are pouring in to rebuild infrastructure and maintain security in efforts to boost oil exports to more than 12 million barrels/day by 2016. If oil prices stay consistent, this means that Iraq's oil revenues will be over 280 billion USD per year, which quadruples the current oil revenue of 70 billion USD per year. The oil revenues would account for 10,000 USD for every citizen in Iraq. Not only would the economic gain be huge for Iraq, but if Iraq manages its oil exports properly, Iraq would become a very influential world player. Iraq would become one of the largest, if not largest energy suppliers to many foreign countries, especially China, and would have a big role in every country's international strategy. Iraq could leverage its oil resources to become a powerful international political player.
Becoming the world's largest oil exporter is not going to be easy. Iraq must be politically adept to negotiate pipeline deals, trade agreements and give peace of mind to foreign investors. Where should this all begin? A stable government. This issue has become so dragged out and the political delay has become agonizing for the Iraqi people and the international community. I truly believe that Iraq can only actualize its truly potential if a stable government is in place to facilitate the oil trade by passing business and foreign investor friendly laws and overseeing necessary, yet nonrestrictive regulations.
This is an essential component. Economics and politics do have a degree of separation, however, if Iraq can create a cooperative relationship between the two, Iraq will become a super power in the next decade and the Iraqi Dinar will become a major world currency.
Blocs Feud - They Must Work Together
The refusal of the al-Iraqiya List to deal with the Iraqi National Alliance (INA) is something regrettable as it is considered a main partner in the political process, describing the boycott as a big problem, Iraqi Vice President Adel Abdulmahdi said on Wednesday.
“The INA considers al-Iraqiya as a main partner in the political process as we insist on the national partnership principle,” Abdulmahdi said at a press conference in Baghdad, attended by Aswat al-Iraq news agency.
“The INA will deal seriously with the situation as the absence of al-Iraqiya will be a big problem in forming a government of national unity,” he explained.
The bloc, led by former Prime Minister Iyad Allawi, decided in its last meeting to boycott the political process if the National Alliance named Nouri al-Maliki to head the government.
Al-Iraqiya List senior official Usama al-Nujaifi had denied on Tuesday reports saying that al-Iraqiya ceded its right to form the government.
The recent statements of al-Iraqiya senior official Tarek al-Hashemi expressed his personal views, al-Nujaifi said. Al-Hashemi’s statements were misinterpreted, he added stressing that al-Hashemi said al-Iraqiya is willing to cooperate but not to cede its right, he argued.
Differences among political blocs reached their zenith between the main two blocs, al-Iraqiya and the State of Law, with the first obtaining 91 out of the new parliament’s 325 seats while the second obtained 89. The State of Law formed a coalition with the Iraqi National Alliance, or INA, to garner the largest number of seats in the new parliament. This claim was rejected by al-Iraqiya bloc, which argued that it had been the winner of the largest number of seats in the parliament and that it has the right to form the new government.
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“The INA considers al-Iraqiya as a main partner in the political process as we insist on the national partnership principle,” Abdulmahdi said at a press conference in Baghdad, attended by Aswat al-Iraq news agency.
“The INA will deal seriously with the situation as the absence of al-Iraqiya will be a big problem in forming a government of national unity,” he explained.
The bloc, led by former Prime Minister Iyad Allawi, decided in its last meeting to boycott the political process if the National Alliance named Nouri al-Maliki to head the government.
Al-Iraqiya List senior official Usama al-Nujaifi had denied on Tuesday reports saying that al-Iraqiya ceded its right to form the government.
The recent statements of al-Iraqiya senior official Tarek al-Hashemi expressed his personal views, al-Nujaifi said. Al-Hashemi’s statements were misinterpreted, he added stressing that al-Hashemi said al-Iraqiya is willing to cooperate but not to cede its right, he argued.
Differences among political blocs reached their zenith between the main two blocs, al-Iraqiya and the State of Law, with the first obtaining 91 out of the new parliament’s 325 seats while the second obtained 89. The State of Law formed a coalition with the Iraqi National Alliance, or INA, to garner the largest number of seats in the new parliament. This claim was rejected by al-Iraqiya bloc, which argued that it had been the winner of the largest number of seats in the parliament and that it has the right to form the new government.
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September 21, 2010
Iraq Could Become an Economic Giant
Iraq has the world's 4th largest oil reserves behind Saudi Arabia, Venezuela and Iran. However, its current production of 2.5 million barrels/day is not very impressive or all that lucrative considering the amount of reserves Iraq has. This has been due to old, inadequate infrastructure and also seven years of war that has physically and emotional torn the country apart. Iraq has always been a country known for its economic potential, but now it is time to take advantage of their opportunities. If done right, Iraqi will become an economic giant by reaping in oil profits.
Investments are pouring in to rebuild infrastructure and maintain security in efforts to boost oil exports to more than 12 million barrels/day by 2016. If oil prices stay consistent, this means that Iraq's oil revenues will be over 280 billion USD per year, which quadruples the current oil revenue of 70 billion USD per year. The oil revenues would account for 10,000 USD for every citizen in Iraq. Not only would the economic gain be huge for Iraq, but if Iraq manages its oil exports properly, Iraq would become a very influential world player. Iraq would become one of the largest, if not largest energy suppliers to many foreign countries, especially China, and would have a big role in every country's international strategy. Iraq could leverage its oil resources to become a powerful international political player.
Becoming the world's largest oil exporter is not going to be easy. Iraq must be politically adept to negotiate pipeline deals, trade agreements and give peace of mind to foreign investors. Where should this all begin? A stable government. This issue has become so dragged out and the political delay has become agonizing for the Iraqi people and the international community. I truly believe that Iraq can only actualize its truly potential if a stable government is in place to facilitate the oil trade by passing business and foreign investor friendly laws and overseeing necessary, yet nonrestrictive regulations.
This is an essential component. Economics and politics do have a degree of separation, however, if Iraq can create a cooperative relationship between the two, Iraq will become a super power in the next decade and the Iraqi Dinar will become a major world currency.
