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Big Oil Ready for Big Gamble in Iraq

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posted on Jun, 25 2009 @ 03:35 AM
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Big Oil Ready for Big Gamble in Iraq


online.wsj.com

Next week, Iraqi officials plan a welcome-back party for Big Oil.

The government intends to auction off oil contracts to foreign companies for the first time since Iraq nationalized its oil industry more than three decades ago. If all goes according to plan in the first round, foreign oil companies will move in to help Iraq revive production at six developed fields that have suffered from years of war and neglect.
(visit the link for the full news article)




posted on Jun, 25 2009 @ 03:35 AM
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Mission accomplished?

At last the real reason for the Iraq war is published, and yet is strangely ignored by the MSM.

No real surprise there, but what should now be painfully obvious to even the most hardened sceptic is that this had nothing to do with WMD's, the WOT or anything else except OIL AND PROFITEERING.

A contract which doesn't need approval from the Iraqi parliament (dontcha just love democracy) has been drawn up, and the leading companies in the hunt for oil have connections to one of the ex-members of Bush's government, including Halliburton.

It will be very interesting to see who the contracts are awarded to - expect to see a token "foreign" company given one of the less valuable contracts as Bush&co continue to feather their nests on the back of taxpayers money and soldiers (and Iraqi's) lives.

Don't you just love it when a plan comes together...

online.wsj.com
(visit the link for the full news article)



posted on Jun, 25 2009 @ 04:03 AM
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I love how they do it,all out in the open-They realy dont care what the population thinks

I would expect the normal every day mass of people in Iraq are not going to see this too kindly!Their country has been raped for oil,they knew that since day one of shock and awe



posted on Jun, 25 2009 @ 09:54 AM
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The man behind the plan, Oil Minister Hussain al-Shahristani, appeared before parliament on Tuesday, where some lawmakers questioned the legality of the proposed contracts and what they called favorable terms for the foreign companies. But the auction appears to have sufficient political support to go ahead on schedule, and Mr. Shahristani and other government officials vowed to plow ahead.

Some 120 companies expressed interest in bidding for the contracts at the June 29 and 30 auction, according to the oil ministry. Thirty-five companies qualified to bid, including Exxon Mobil Corp., Royal Dutch Shell PLC, Italy's Eni SpA, Russia's Lukoil and China Petroleum & Chemical Corp., or Sinopec. The six oil fields at stake are believed to hold reserves of more than 43 billion barrels. Foreigners won't get the most prized piece of the action -- ownership stakes in the reserves -- but will be paid fees for ramping up output.

"We're talking about a huge volume of crude flowing through their system for the companies who win the bids," says Samuel Ciszuk, IHS Global Insight's Middle East Energy analyst.

source

The amounts of money being "earned" is vast - and of course the puppet, sorry democratically elected, government will have the biggest say in who gets what.



posted on Jun, 25 2009 @ 10:08 AM
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I don't know what to think about this, but all I know is there is no oil crises. US has the largest untapped oil reserves in the world, it will keep us energy independent for a hundreds or thousands of years, but we refuse to drill.

I think we only buy foreign oil to keep other countries bind to us. I mean whoever pays your bills, is going to make you loyal to them. Great way of infiltration.



posted on Jun, 25 2009 @ 10:12 AM
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Soooooo...
Invading Iran will put the nail in the ownership coffin for Chevron/Bush and BP/Blair then eh??????

Throughout all of this, I am wondering what is up with the Al-Sabbah family and their little country Kuwait!!!

Interesting thread and news source...ty

Peace...



posted on Jun, 25 2009 @ 10:50 AM
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reply to post by amfirst
 


In order to appease people at home, including the green lobby Bush invaded Iraq so the west could control the resources - this also gives the US a foothold in the area which they can use to "bring democracy" to other countries, if need be.

It is one of the reasons the US supports Israel - so that the area is destabalized.

If the Saudi's ever turn on the west (overtly rather than just supplying terrorists with arms and martyrs) then they will become the new enemy.

It is the mmisfortune of the ordinary citizens in the region that their countries sit on oceans of what the west is dependant on.

This is economic imperialism at its worst.




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