Obama's Actions on ISIS/Iraq Should Not Have a Major Impact on Oil Prices, Researcher Says
Source Newsroom: Georgia State University
John S. Duffield, professor of political science at Georgia State University, is available to discuss any possible affects that the actions President Obama outlined Thursday regarding the ISIS/Iraq situation might have on oil prices -- or the lack thereof.
Duffield is an expert on energy security and the affects of politics on energy. He is the author of "Over a Barrel: The Costs of U.S. Foreign Oil Dependence," printed in 2008, and co-edited "Balance Sheet: The Iraq War and U.S. National Security" in 2009.
"The actions outlined by Obama should not have a major effect on oil prices," Duffield said. "The main reason is that the ISIS offensive is very unlikely to threaten the main sources of Iraq's oil production and exports, unless the central government collapses.
"The traditionally Sunni dominated regions of Iraq produce very little oil, and most production and exports occur in the southeastern region of Iraq," he explained. "In fact, the conflict could have the paradoxical effect of increasing Iraqi exports, if the Kurds decide that they don't have to worry what Baghdad thinks and maximize production and exports (through Turkey) from the region that they control."
More information about Duffield is available at http://www2.gsu.edu/~wwwpol/2750.html.
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