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Opec is meeting again this weekend..?? I believe and over time the economy is going to recover and demand will return.. or producers will someday be successful in limiting production enough to drive up energy prices...

Anywho here is a good site I came across on a google search..

http://www.energyinvestmentstrategies.c ... -oil-produ...

As you look at the global players.. the producers, consumers and where the trade occurs.. this is a very useful map.

http://media.ft.com/cms/8f4066aa-9934-1 ... 9fd2ac.swf

Anywho given that Iraq has the 2nd largest proven reserves in the World and probably the world's lowest production costs below $3.00 per barrel (before the substantial cost of security...) vs the current market approaching $50 Crude.

The US uses over 20 mln barrels per day and produces a little under 7 mln per day while importing a little over 13 mln barrels.. over a barrel indeed.. at some point.

Iraq is going to grow in importance over time especially when you consider that they are already producing about 2.5 mln barrels per day.. given their current environment.

What will happen when we pull out?

I think the security of the Iraq Oil Fields has to be a huge issue on the world front once the US pulls out of there. Personally I dont' have a lot of confidence in their ability to sustain their own Security in the future. Which begs the question how much of a part will the US or other countries need to play a part in that security. I doubt anyone could allow that security to go to the contractors because that would simply raise the cost of production.

On the other part, that Map of consumers could change quite a bit in the next 5 - 10 years. I believe India and China will probably grow considerably as consumers and you may see new consumers make the list like countries in South America. Some other consumers may shrink a little but in general I think the demand will simply continue to go up.