In his final report to Congress this month, U.S. Special Inspector General for Iraq Reconstruction Stuart Bowen said much of the $60 billion the U.S. spent on rebuilding Iraq was wasted.
Higher production could make Iraq the world's second-largest oil exporter. Most of the added oil won't go to the U.S., but to countries helping Iraq rebuild its oil facilities and basic infrastructure.
U.S. diplomat Chris Hill discusses the economic conditions of Iraq and North Korea as they make important transitions, and how they might change in the future.
Nouri al-Maliki meets with the U.S. Chamber of Commerce. The trade group says its members are ready to sign hundreds of millions of dollars worth of new contracts.
The country has money from the billions of barrels of oil it produces everyday, but it will still need guidance from the U.S. when it comes to strategic planning and training.