Iraq Could Be A Game-Changer -- Nothing To Do With The Bakken

IEA: Iraq could be a game changer.

Currently, 3 million bopd. Could double by 2025.

In the long term, that may be correct. In the short term, there are some major concerns, one of which is the risk to Iraq's pipeline that runs through Syria into eastern Turkey. That happened in July of this year (2012), in which a blast to that pipeline shut down about 25% of Iraq's oil exports.

Meanwhile, yesterday, October 8, 2012, a blast shut down a natural gas pipeline that runs from Iran to Turkey. But this is the big takeaway from that article:

The accelerating series of events is likely to raise questions not only in regional capitals such as Baku and Ankara, but also Brussels. Turkey's planned $7 billion TANAP pipeline is now set to play a vital role in EU energy security by carrying 16 billion cubic metres per year from the second phase of the giant Shah Deniz field in Azerbaijan towards Central Europe.