The Spill Over Effect of Oil in Iraqi Politics

Christopher Dickey, Newsweek | March 11, 2010

Oil, far from the blessing it was expected to be, has failed to lift Iraq out of war and economic stagnation. ++ As demonstrated by high levels of corruption in many oil-exporting nations, overreliance on oil for economic growth can be problematic. ++ Iran also feels threatened by its neighbor's oil-production, which could have a destabilizing effect on Iraqi peace and democracy. ++ Yet Stanford professor Larry Diamond sees hope for the future, "there is so much oil wealth… that there will be plenty to steal and still some for development."