By Majid Jafar of Crescent Petroleum
Hampered by broken promises, unfulfilled potential and worsening governance, 10 years on from the US-led invasion, Iraq has failed to live up to its promise.
The country’s vast oil resources – over 140 billion barrels proven – were once seen as a guarantor of a smooth political transition. Yet production and exports are little more than a decade ago, and less than half where they had been expected to be by this stage.
Far from being a source of unity, oil has become a central point of dispute between Iraq’s quarrelling leaders, with oil revenues also fuelling corruption and mismanagement on a scale unimaginable in the heady days when Saddam’s regime fell. Continue reading »
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