There are three ways to extract oil wealth out of Iraq:
- Direct payments.
- Contracts awarded to US companies (not just oil companies -- but also a host of infrastructure, agriculture, and technology companies).
- Lower oil prices through large increases in production (specifically enough to break OPECs quotas for good). For example $12 a barrel oil. Each $1 a barrel in price reduction is worth $20 m a day in savings for the US (at $12 that would be $240 m a day in savings for US consumers). This will take a while to pull off due to the time-lag needed to ramp production.
[
John Robb's Radio Weblog]
< 6:58:53 PM
>
Apple releases WebObjects 5.2 [The Macintosh News Network]
< 6:56:47 PM
>
Microsoft: Longhorn on the Desktop, Blackcomb on the Server [Windows Informant]
< 6:54:50 PM
>