Iraqi oil production is above the levels seen before the US-led invasion of the country in 2003, according to the International Energy Agency (IEA).
The IEA said Iraqi crude production is now running at 2.3 million barrels per day, compared with 1.9 million barrels at the start of this year.
“[Iraq’s] $2.7 billion of 5.8 percent bonds due in 2028 returned 15.2 percent since July, according to JPMorgan Chase & Co. index data. Only Ecuador’s debt gained more, rising 18 percent.” Iraqi bonds were trading at 55 cents on the dollar last August, with an 11.5 percent yield. Today, they have rallied to 64 cents, bringing the yield down to 9.9 percent. U.S. money managers are saying these are the hottest bonds in the emerging market. This is a clear sign of confidence in the conduct of the war.Read it here.
Eventually it will begin to dawn on the public that things are turning out pretty well for Bush's enterprises.
Will he get credit though? Don't hold your breath.
