John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

I will come to Iraq in a moment. It is overwhelmingly due to the massive demand that is coming out of China and, to a lesser extent, India, to the underinvestment in refining capacity and to some of the impact of the situation in the Middle East. If you are looking at Iraq and you want to improve the supply of oil by bringing more oil from Iraq on stream, what you do is defeat the insurgency, not cut and run.

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