Oil and security for Iraq investors

Security in Iraq is a major holdup to investment there, sometimes second only to the lack of a law governing Iraq’s vast oil and gas reserves.

Various security plans, by Iraqi and U.S. forces, are intended to break the cycle of violence, but little of the ambitions for Iraq’s future will take hold until its citizens face fewer day-to-day threats to their lives.
Inter- and intra-sectarian violence as well as anti-occupation attacks and the multi-national force’s response keep Iraq’s morgues full, people afraid and development of vital services at bay.

Iraqis face both poverty and unemployment estimated at more than 50 percent, and a simultaneous crisis lacking security, fuels, electricity, healthcare, clean water and education, though these vary by region.

The energy sector, which is the bloodline for Iraq’s economy, is a frequent target.

Many top executives at an Iraq energy conference this week alternately ranked the security situation and the oil law as the top reasons they aren’t rushing into the country to invest. Most spoke off the record to United Press International, but shared similar concerns.

Energy Daily