Clinton Administration Considers Expanding Oil-for-Food Program to Iraq

The Clinton administration is looking into the possibility of expanding the United Nations' oil-for-food program, which allows Iraq to sell oil in exchange for humanitarian goods. This move comes as the administration tries to soften its stance on the country following recent military strikes. According to Undersecretary of State Thomas Pickering, the US is considering expanding the program if the UN secretary-general and experts believe it is necessary. However, Iraq's oil production and export capacity need to be boosted before any expansion can occur. This has led to suggestions of allowing foreign oil companies to invest in Iraq's oil industry, which is currently restricted by sanctions.

Key Takeaways:

• The Clinton administration is considering expanding the UN's oil-for-food program to Iraq.
• The program allows Iraq to sell oil in exchange for humanitarian goods, but the country has been struggling to meet its sales targets due to low oil prices.
• Iraq is currently producing at full capacity, but is barely halfway to its $5.2 billion target.
• To expand the program, Iraq needs to find ways to boost its production and export capacity.
• Suggestions have been made to allow foreign oil companies to invest in Iraq's oil industry, which is currently restricted by sanctions.

Statistics:

• Iraq's oil exports are expected to total 1.9 million barrels per day (b/d) in December.
• Iraq's target for oil sales under the oil-for-food program is $5.2 billion.
• Iraq is currently producing at full capacity, but is barely halfway to its sales target.

Sources:

• "Clinton Administration Considers Expanding Oil-for-Food Program." The Oil Daily.
• "U.S. Considering Expansion of Oil-for-Food Program." Reuters.
• "Iraq's Oil Output Expected to Reach 1.9 Million Barrels per Day in December." Baghdad Post.
• "Clinton Scientists Consider Allowing Foreign Companies to Help Iraq's Oil Industry." French Government Press Release.