Two days ago in the Wall Street Journal an article was written titled “The Great Iraqi Oil Rush” under an add for the CEREWEEK 2011 energy conference.  The writer is Bhushan Bahree and is the HIS CERA Senior Director whose job is to focus on global oil markets, OPEC, and the Middle East. This was written as a heads up for what will be discussed at the energy conference in Houston, Texas this week.  I found it fascinating because the writer presents Iraq’s aggressive plan to produce and export their oil.  Why is this so interesting?  Because of what the book of Revelation says about Babylon in the time of tribulation.  I am specifically referring to Revelation chapter 18 where it speaks of Babylon, located in modern day Iraq, being a powerhouse in economic commerce.

I know some interpreters debate the idea of a city of Babylon’s return to glory, but John MacArthur believes the actual city will become the hub of world commerce for Antichrist’s global empire. Here is an excerpt from his commentary.

"Though some commentators view it as a symbol for Antichrist’s whole godless system, the Babylon described in chapter 18 is most likely an actual city.  It is called a city five times in the chapter (vv. 10, 16, 18, 19, 21), and other features in the text imply that a literal city is in view.  Since the text plainly describes Babylon as a city, and there is nothing in the context to indicate otherwise, it is safest to view it as a real city.  The specific Old Testament prophecies of Babylon’s destruction and perpetual desolation (Isa. 13:19-22; 14:22-23; Jer. 50:13, 39; 51:37), as yet unfulfilled, also argue that chapter 18 describes an actual city.  But while Babylon will be an actual city, it influence will be world wide.” –John MacArthur, The MacArthur New Testament Commentary Revelation 12-22,pg. 177.

Given the current state of affairs in the world I may be inclined to agree with him.  The information currently available in the business and political world, and the way the Middle East is unraveling in waves of revolution, amongst worldwide financial chaos, I don’t think we should dismiss the likelihood of Iraq and Babylon’s rise.  In fact Mr. Bahree’s article gives us some legitimate reasons to think it possible.

Here are some direct quotes from the article.  “In late 2009, Iraq embarked on an ambitious plan to catapult the country into the ranks of the world’s very largest oil producers and exporters-Russia and Saudi Arabia-in less than a decade.”  Companies are coming to Iraq because they see it as “an opportunity to develop some of the largest oil fields in the world.”  In Iraq “oil accounts for some 90 percent of government revenues.”  The article mentions that Iraq is competing for the number two position of “conventional oil reserves” with Iran, and is currently behind Saudi Arabia who currently holds the largest.

What makes the plan so aggressive is that the Iraqi government has contracted with other oil companies to increase production more than four times in less than a decade going from “2.5 million barrels per day” to a “target of about 12 million barrels per day by 2017”.  Bahree believes the goal is “too ambitious to be achievable” but finds such a high goal in such short time “unprecedented”. 

Although Saudi Arabia has been the dominant player, Bahree notes the rise of Iraq as a critical player in the output of oil would bring a much needed supplier in the supply chain and “alter the balance of power in OPEC.”  “Expanding oil exports will provide Iraq with much needed money to reconstruct its infrastructure and rebuild the economy.”

Saudi Arabia has historically been a key producer in oil, but this week reports are coming out about a potential revolution happening there as well.  Currently Iraq is a democratic society.  Is it possible this is the time for Babylon’s revival as a dominant world power where nations “had ships at sea became rich by her wealth,” (Rev. 18: 19) or is this just unimaginable speculation?