Iraq has doubled the money allocated for importing oil products in August and September to tackle the country's worst fuel shortage since Saddam Hussein's 2003 ouster, a senior Iraqi official said Thursday. Full Story »
Posted by Mike LaBonte
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Concise story indicating how drastic the gasoline shortage in Iraq really is. Black market gasoline now $4.92/gal, $0.64/gal before the shortage, and as I recall $0.06/gal before the war. Checked on Iraq's ranking for proved reserves, and it is indeed 3rd according to BP. Only source seems to be an Iraqi oil official. Title is a little misleading since they are importing refined products, not oil.
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