Deals with Iraq are set to bring oil giants back

Deals with Iraq are set to bring oil giants back

www.iht.com

BAGHDAD: Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.

(visit the link for the full news article)

Sooooo..... are we going to hear GW giving another MISSION ACCOMPLISHED speech any time soon? Wow this President in 8 years has given more to the rich than all the Presidents in the past century, from tax cuts to wars, to defense spending, now claiming for offshore drilling.

I wonder how are we going to remember this guy 50 years from now.

www.iht.com
(visit the link for the full news article)

and this war isnt about oil.

what a complete farce.

reply to post by Agit8dChop


The only positive thing that I can see from this is that if this companies invest money in Iraq they would also bring their own security teams (Blackwater anyone?) and the more private security contractors guarding the oil the less troops are going to be need it to do the same.

Given the level of corruption that plagues the Iraqi government it would be a matter of time before they give Blackwater a green light for any sorts of security operations.



[edit on 19-6-2008 by Bunch]

No bid contracts...any questions?

From the NY Times:

The no-bid contracts are unusual for the industry, and the offers prevailed over others by more than 40 companies, including companies in Russia, China and India. The contracts, which would run for one to two years and are relatively small by industry standards, would nonetheless give the companies an advantage in bidding on future contracts in a country that many experts consider to be the best hope for a large-scale increase in oil production.

There was suspicion among many in the Arab world and among parts of the American public that the United States had gone to war in Iraq precisely to secure the oil wealth these contracts seek to extract. The Bush administration has said that the war was necessary to combat terrorism. It is not clear what role the United States played in awarding the contracts; there are still American advisers to Iraq’s Oil Ministry.