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Source: http://news.bbc.co.uk/2/hi/business/2847905.stm
The Fight Over Iraq's Oil
(BBC) - Daniel Yergin While Iraq's oil reserves are the second largest in the world - after Saudi Arabia - Iraq represents just 3% of the world's total production capacity. Its oil exports are at about the same level as Nigeria's. In contrast to the 1990-91 Gulf crisis, which was more about energy security, this current crisis is focused on overall security, and it requires several leaps of logic to conclude that the current Iraq crisis is "all about oil."