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America's North Shore Journal » Entries tagged with "Iraqi oil"

Al Basrah Oil Terminal is vital to Iraq

September 10th, 2009 | Comments Off

Al Basrah Oil Terminal is vital to Iraq

Eighty percent of Iraq’s gross domestic product is pumped through pipelines and onto tankers at the Al Basrah Oil Terminal 30 miles off the coast of Iraq in the Persian Gulf. The ABOT is a vital part of Iraq’s economy, and it is the job of the United States Sailors and Coast Guardsmen stationed there to keep it safe, according to Cmdr. Thomas Shultz, chief of staff, Commander, Task Group Iraqi Maritime. “The Al Basrah Oil Terminal … Read entire article »

Filed under: Iraq, Rebuilding, War on Terror

How General Petraeus Saved the U.S. Economy

August 5th, 2008 | Comments Off

Here’s a compelling piece by James Pethokoukis at the Capital Commerce blog on the U.S. News & World Report site. With oil prices continuing to plunge—and they may have a lot further to go—I’ve started wondering about this “what if” scenario: Where would oil prices be today had we abandoned Iraq to civil war and al Qaeda? What if President Bush had announced on Jan. 10, 2007, that instead of surging U.S. troops under the command of General Patraeus, he was ordering their withdrawal? Imagine if Iraq had descended in complete chaos and terror and genocide. Somalia or Rwanda on the Tigris and Euphrates, I guess. I agree with Pethokoukis. The prospect of dramatic instability in Iraq and the region would push oil prices well into the stratosphere. Oil is down 20% … Read entire article »

Filed under: American Economy, Iraq, Surge 2007, War on Terror