Iraq must succeed

04/14/2003
Can newly free Iraq become a successful oil state? History suggests not. Yet lives sacrificed to transcendent values insist otherwise.A lavish endowment of petroleum can be a blessing or a curse. Iraq's lavish endowment so far has been a curse. The country has oil reserves exceeding 110 billion bbl, largely undeveloped. It has gas reserves estimated at 110 tcf. It has large areas of great geologic promise that never have been drilled. It has a long history of production and a highly regarded corps of petroleum professionals. Yet the bounty from this gift has for decades been shunted to the intrigues of a murderous autocracy.That changes now. The regime of Saddam Hussein is vanquished....
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