Mosul & oil pipelines.
The original Kirkuk to Ceyhan pipeline with capacity of 1.6 million bopd, the one constantly being blown up, goes right past Mosul.So good luck with that.
The new Kurdistan to Ceyhan pipeline which goes thro' Kurdistan controlled territory & then links in with the Kirkuk to Ceyhan pipeline inside Turkey should still be okay.
Maliki has threatened legal action re two shipments that have left Ceyhan that originated in Kurdistan & hasn't reached agreement with Erbil.
Baghdad itself ( & Maliki ) must now be at risk with Isis coming down from Mosul & in from Fallujah.
So entire Iraq exports of 2.6 million bopd must be questionable in medium term.
Will Iran act? Will Turkey act?
U.S. can hardly continue to arm (good )rebels in Syria when these arms are just going to end
up with Al Qaeda/ISIS. For that matter do they continue to send arms into Iraq?