Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Tech
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Make Me Smart with Kai and Molly
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

Iraq reports an increase in oil reserves

Nancy Marshall-Genzer Oct 4, 2010
Share Now on:
HTML EMBED:
COPY

TEXT OF STORY

BILL RADKE: This morning, Iraq announced there is significantly more oil underneath that country than first thought — 25 percent more. That would mean Iraq’s oil reserves are second only to Saudi Arabia. Will that mean a gush of foreign investment?

We asked Marketplace’s Nancy Marshall Genzer to take a look.


NANCY MARSHALL GENZER: For years, embargoes and war kept Iraqis from getting a clear idea of how much oil they were sitting on. Now, underground rock formations are coming into focus, thanks to new computer technology.

David Hackett heads the energy consulting firm, Stillwater Associates.

DAVID HACKETT: Now with today’s modern computers they can actually look at it in three dimensions in order to help identify potential oil-producing structures.

OK, you’ve got oil-producing structures, but the Iraqi government has no structure. In fact, Iraqis haven’t been able to form a government since the elections last March. And violence has remained steady. But other oil producing countries are also having problems with violence and politics.

Stephen Schork of the Schork Report says they make Iraq look pretty good to foreign oil companies.

STEPHEN SCHORK: Iraq, especially with attainable oil, certainly makes sense at this point.

Especially if oil prices continue to go up.

In Washington, I’m Nancy Marshall Genzer for Marketplace.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Make a good investment!

Looking for a great deal?
Get ALL THREE of our new thank-you gifts when you donate $120.

This is a limited time offer – so act soon!