Iraq Oil Output Lowest Since Invasion

With oil prices above $70 a barrel fouling the world economy, dismay is focusing on Iraq, whose exports have slipped to their lowest levels since the 2003 invasion. "Iraq could be making a tremendous difference," said Dalton Garis, an economist at the Petroleum Institute in Abu Dhabi. Instead, its shortfall is "a significant contributing factor to the high price of oil," he said. Iraq, a founding member of OPEC, sits atop the world's third-highest proven reserves. Its estimated 115 billion barrels is more than any other OPEC member except for Saudi Arabia and Iran. [Remember Bush couldn't find oil in Texas!!]