Iraq hoarding oil profits?

The soaring price of oil will leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by year’s end an American federal oversight agency has concluded in an analysis released on Tuesday. The unspent windfall, writes James Glanz for The New York Times, from oil sales from 2005 through 2008, [...]

Turkish trouble and Shiite violence, all in oil-rich Iraq

Turkey may implement economic sanctions against the Kurdistan Regional Government, including cutting needed power supplies, Iran’s PressTV reports. It sounds like a squeeze on the KRG for not quashing the separatist Kurdistan Workers’ Party. The PKK is threatening to sabotage the Kirkuk-Ceyhan pipeline – in the Kurdistan territory – but has yet to make good [...]

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