Foreign Affairs Hearing on Iraqi Oil Reconstruction
July 18, 2007
The Foreign Affairs Subcommittee on the Middle East and Subcommittee on International Organizations, Human Rights, and Oversight are currently holding a joint hearing, "Reconstruction in Iraq's Oil Sector: Running on Empty?"
Watch the hearing live via committee webcast or on C Span 3.
Middle East and South Asia Subcommittee Chairman Gary Ackerman gives opening remarks:
| Chairman Ackerman: "Three years ago, the CPA set oil production targets at 3 million barrels per day. Last year, according to GAO, Iraq produced an average of 2.1 million barrels a day. And this year, Iraq is averaging only 1.9 million barrels a day. In terms of oil specifically for export, Iraq produces 1.4 million barrels a day, 800,000 per day below the goal and 100,000 barrels per day less than last year. So, three years after the CPA set the initial target, not only is Iraq not producing anywhere near the goal, they're actually going backwards." |