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> > At the conference this weekend it was suggested that with investment Iraq may be able to increase pumping capacity up to 8 or even 12 million barrels a day of oil, allowing it to generate large revenues for the civilian program. > >I was puzzled by this because my understanding of OPEC is that Iraq would not be allowed to pump that much oil, nor would any OPEC producer. > >In addition, wouldn't increasing the volume of Iraqi oil result in a decrease in price of oil, negating any extra revenues which could be earned from the larger volume? > >I've wrestled around with the increasing oil sales and can't really see any way Iraq could earn more from oil sales in the next few years than $16 billion apart from an increase in the oil price. > >Richard > >Voices > -- ----------------------------------------------------------------------- This is a discussion list run by the Campaign Against Sanctions on Iraq For removal from list, email soc-casi-discuss-request@lists.cam.ac.uk Full details of CASI's various lists can be found on the CASI website: http://www.casi.org.uk