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Sunday

How Iraq's Booming Oil Trade Affects the Dinar

By Dan Carlson

Iraq is continuing to show how focused they are on their oil trade. Huge amounts of foreign investments are coming into support Iraq's oil trade. By 2011, Iraq is planning to increase its oil exports from 2.6 million barrels per day to 3.6 million barrels per day. The biggest challenge Iraq faces is to quickly build the infrastructure necessary to support the increased productivity. A good problem to have. The great demand for infrastructure and security will increase the number of jobs created. Iraq reported a 15% unemployment rate, but its oil industry is looking to significantly reduce that rate.


Jobs Will End Violence in Iraq and Strengthen the Dinar

By Dan Carlson

Every day it seems like we hear about another suicide bombing or car explosion that kills innocent Iraqi citizens and our own soldiers. It is heartbreaking for their families and is wreaking havoc in Iraq. As our troops drawdown to non combat levels to just under 50,000, a wave of insurgent activities have swept across Iraq. The power vacuum in Iraq doesn't help either. The Iraqi government needs to come to terms in order to take control and restore stability and peace in Iraq. These are the conditions necessary for a prospering country and a strong dinar. What is one way the Iraqi government can step up to help reduce and possibility end the violence in Iraq? Create jobs.

Some may say that the violence in Iraq stems from anti-American perspectives and religious extremists - I do agree that these sentiments exist, but I think the core issue is that Iraqi citizens are struggling economically and are in need of jobs. Iraq was under oppressive rule during the Saddam era and after his fall, Iraq has been at war for the past seven years. During the war, oil production essentially halted and their greatest source of revenue was cut off, as well as the jobs the oil industry provided and the money that trickled down to fund and sustain small businesses. Many Iraqis were left without sources of income and to exacerbate their economic instability, their homeland became a battle ground littered with bombs, gun fire and land mines. Add on top of that, poor infrastructure left many Iraqis with only a couple hours of electricity per day. No job, no safety and no electricity. How does one survive these conditions? What options do Iraqi citizens have to put food on the table? One option is to accept money from terrorist and insurgent groups to commit violent acts.


a 2011 Edition of Jobs in IRAQ