Iraqi oil-3: Policy key to unlocking potential

The oil industry is Iraq’s most efficient wealth-creating instrument. Recent and near-term future oil prices, which have reached $50-60/bbl and above from $22-28 last year, are providing high income for the country, particularly in view of Iraq’s low discovery cost of about 50¢/bbl and its development cost of 50¢-$1/bbl.

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