Oil majors to lead another Iraq invasion

Oil majors to lead another Iraq invasion

www.abc.net.au

Five years after the US-led coalition stormed into Iraq there is set to be another western invasion.

This time it is the world's biggest oil companies leading the charge, 36 years after Saddam Hussein kicked them out.

The oil giants are seeking access to Iraq's rich crude reserves, Australian companies BHP Billiton and Woodside are among them.

The Iraqi government wants to make up for the lost opportunities under Hussein's rule and has the ambitious goal of doubling Iraqi oil production to more than 4 million barrels a day within five years.

(visit the link for the full news article)

Could this help lead to lower oil prices ? For some reason I doubt it .
Some may even argue that this was the hole purpose for the war in the first place .

www.abc.net.au
(visit the link for the full news article)

[edit on 2-7-2008 by Max_TO]

Someone had said they expected oil to go up to $200.00 a barrel. I guess that would be some incentive to pump it out just a 'little bit' faster out of competition. Gee, in 5 years I seriously doubt I'll be driving much anymore at those prices. I'm looking more at those scooters now also. I see they have electric ones now too.

Once this effects production slow downs in China and changing their current lust for oil 'may' bring prices back down. Someone has to put the brakes on their 'addicted' growth.

This to me is an economic oil war which has become a beast.

This is b/s. This is why the US should pull out of Iraq. The US oil companies have no business in Iraq. They will reap all the profits and buy out all the oil for under the market price. I honestly wish a terrorist would behead every leader of these oil companies.

Oil makes the World go round so yes I think it’s feasible that now Iraq is friendlier to the West the oil giants are going to be queuing up to drill it for a price. As long as Iraq gets a fair price inline with her neighbours then I can see no problem with that, and I doubt they will settle for less.

Has for Iran, a power that is trying to fill the gap left by the demise of Saddam, why are they building a nuke plant and 4500km rockets when they are suffering fuel riots because they can’t make petrol?