Iraq looms large in era of growing oil scarcity - The National

Gone are the heady days of the early oil booms, when wildcatters would stumble on rich reserves conveniently located a few metres underground.

Rapidly developed oilfields on the American plains no longer flood the market with kerosene, and it has been a while since the wells around Baku quickly pumped enough oil to satiate most of Europe's demand.

In today's world, increases in production are incremental and a cause for anxiety over whether they will meet projected increases in demand.

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