Oil Production Cut Back in Iraq

Adding a fresh blow to our oil supply problems, Iraq is going to cut its target for oil production in half.  Remember when we were at the onset of the invasion of Iraq, and many people were cheering for it since it would lead to ultra-low oil prices?  So much for that, I guess.  http://www.theaustralian.com.au/business/iraqi-oil-production-cutback-plan-adds-to-global-supply-fear/story-e6frg8zx-1226050749186