“It seems to me that the possibility that Iraq may actually succeed in doing this… bring[ing] production up from the current 2.5mbd or so to 12 mbd over the course of the next 6-7 years… should be taken seriously. If it did succeed, that would act to delay the final plateau of oil production by a decade (ballpark), make that plateau be at a higher level (95-100mbd ballpark), and significantly moderate oil prices in the meantime.”