What happened to the oil glut we were supposed to get from Iraq?

What happened to the oil glut we were supposed to get from Iraq?

Jordan Goodman (Personal Finance Author) gives expert video advice on: Why is gas so expensive?; Why aren't gas prices regulated?; Do Americans get gas cheap? and more...

People said after we invaded Iraq and took them over that we were going to have an Oil Glut from Iraq. But, in fact, they're not producing that much, maybe six hundred thousand barrels a day which, when you consider the whole world uses eighty-five million barrels a day is not really that much. The oil is there, but their facilities are very antiquated. And they keep getting attacked so, you know, it's not a very reliable kind of source of Oil And it just takes a long time to build up the infrastructure to get the Oil out of Iraq. So, a lot of it is being used in that area, we're not getting much Iraqi oil in the United States. It's just been producing a lot less than people expected. There were talks, at one point, of having three million barrels a day coming out of Iraq. But now it's five or six hundred thousand barrels a day. And so it's a source, but nothing close to what we thought it was gonna be.