Does this mean the Iraq War will end now?

Posted by on . 9 comments.

Has the mission finally been accomplished?


Big Oil Back To Iraq?
http://www.cbsnews.com/blogs/2009/06/24/business/econwatch/entry5109976.shtml

Iraq finally surrenders its oil sovereignty to trans-national corporations.

The article:

"Thirty five companies are qualified to bid on foreign oil contracts with Iraq starting next week, the Wall Street Journal reports. The government decided to auction off foreign oil contracts in an attempt to boost up its war torn economy.

The auction is taking place for the first time since Iraq nationalized its oil industry more than 30 years ago. Among top potential bidders are Exxon Mobil Corp., Royal Dutch Shell PLC, Italy's Eni SpA, Russia's Lukoil and China Petroleum & Chemical Corp. If all goes according to plan, the new contracts with foreign companies will help Iraq to stabilize six developed fields which have suffered because of the war.

Oil Minister Hussain al-Shahristani has expressed his commitment to staying on the deal despite lawmakers' concerns of legality of the contracts - believed by the parliament to have highly favorable terms for the foreign companies.

According to Wall Street Journal, the oil deal could be key to stablizing Iraq's economy and to its proposed plans to boost oil output from the current 2.4 million barrels a day to 4 million. The companies themselves, are also reported as being eager to receive the contracts due to Iraq's relativly unexplored reservoirs, with some considering the nation as the most important opening of petrolium fields in years. Only about 20 out of the known 80 oil fields have been developed.

Al-Shahristani has stated that the companies with the lowest rates and highest potential profit for Iraq will receive the contracts, according to the article.

Approximately 120 companies were interested in bidding. The contracts will last 20 years and the winning companies will begin work in November."

Comments

  1. iraqisax says:
    September 29, 2009 at 7:25 am

    From my perspective, the invasion of Iraq was for two primary reasons:

    1. to remove a regime that was hostile to the New World Order. Many Middle Eastern governments do not want to play ball with the globalists. Iran is next, and then maybe Syria.

    2. To steal Iraq’s oil for the big oil companies. The Iraqi Oil Bill was written by the Bush Administration and forced on the new Iraqi government. It provides for the majority of Iraq’s oil being transferred to the big oil companies.

  2. dumdum says:
    September 29, 2009 at 7:25 am

    That’s sad. What thieves! And tax payers are paying for it, yet we’re paying more for gas than ever!

  3. Anti ACORN (COI) protestor says:
    September 29, 2009 at 7:25 am

    That article is so biased!
    The war torn economy is far better than the one many saw under Hussein…
    He poured cash by the ton into such ventures as the Victory over America palace, where he worked the builders to death by dehydration.
    The companies are buying the right to drill and pump oil, to give Iraq MONEY.

  4. DAR says:
    September 29, 2009 at 7:25 am

    SHIT

    Shit shit shit shit shit.

    I hope at LEAST we can bring the troops home now.

    SHIT

  5. bob says:
    September 29, 2009 at 7:25 am

    so does this mean my iraq dinar will finally be worth somthing

  6. dartagnon p says:
    September 29, 2009 at 7:25 am

    I reckon that’s up to President Obama … he DID PROMISE that we would leave Iraq and I think he has kept most of his promises so the odds are good. But will the CFR let it go? Will we keep a contingent group of soldiers there to protect the oil interests? Or will we set up a "fort" there where we can monitor the situation.

    I’d go for the latter … but most of the troops will fall back to Afghanistan. We’re merely replacing the Iraq war with the Afghanistan War … I feel sorry for the troops who have to put up with that … but maybe they LIKE to be in the thick of things … they are a bunch of 18 and 19 year olds who would be playing Doom or Death Squad at home and this way they can play it for real with real weapons and real tanks and trucks. Sounds kinda fun if I were 19 again.

    We’ll have to see which way this one turns out. It’s anyone’s guess at this point.

    Peace

  7. Jerry H says:
    September 29, 2009 at 7:25 am

    I’m not suprised. People still thinks it’s about "al queda"

    Iraq didn’t threaten the US. North Korea is more of a threat. Why not invade them if they’re so scared of WMDs. Remember that the US has repeatedly admitted that this was about their "interests". If people paid attention they would know that al-queda is a false argument.

    Too bad for the Iraq people. Instead of pumping the oil themselves and making a profit, now foreign oil will take a big chunk of the profits giving Iraq nothing – and the article paints it as something that is good – how sick!

  8. the Ol' Foolosifer says:
    September 29, 2009 at 7:25 am

    This question can only be answered a little at a time. Depending on which companies get the contracts will tell the eventual outcome of this war and the role of the U.S. in the main scheme of things.
    Say Russia, China and Dutch Shell get the bulk of the contracts, this leaves the U.S. out in the cold, so to speak and opens a new door into a new theater of possible invasion or oppression. If the U.S. oil companies get the contracts, the remainder will call foul, which could lead to additional reprisal from warring nations.
    Iraq and other oil producing nations are like the only woman at the orgy, they’ll get it one way or another.

  9. Pfo says:
    September 29, 2009 at 7:25 am

    It’s over when we can leave and not have to worry that things will get worse. To leave or declare it over anytime before that is to throw away all the progress that’s been made.

    If you paid attention, you would know everything is planned to end sometime in 2011, and you would have known that Iraq would open its oil fields to foreign developers, it was quite obvious when the Iraqi Oil Law was signed.

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