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unhappycamper

(60,364 posts) Sun Mar 24, 2013, 08:05 AM Mar 2013

Why the war in Iraq was fought for Big Oil

http://edition.cnn.com/2013/03/19/opinion/iraq-war-oil-juhasz/

U.S. Marines in northern Kuwait gear up after receiving orders to cross the Iraqi border on March 20, 2003. It has been 10 years since the American-led invasion of Iraq that toppled the regime of Saddam Hussein. Look back at moments from the war and the legacy it left behind.

Why the war in Iraq was fought for Big Oil
By Antonia Juhasz, Special to CNN
March 19, 2013 -- Updated 1507 GMT (2307 HKT)

(CNN) -- Yes, the Iraq War was a war for oil, and it was a war with winners: Big Oil.

It has been 10 years since Operation Iraqi Freedom's bombs first landed in Baghdad. And while most of the U.S.-led coalition forces have long since gone, Western oil companies are only getting started.

Before the 2003 invasion, Iraq's domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms.

From ExxonMobil and Chevron to BP and Shell, the West's largest oil companies have set up shop in Iraq. So have a slew of American oil service companies, including Halliburton, the Texas-based firm Dick Cheney ran before becoming George W. Bush's running mate in 2000.

unhappycamper comment: In case you forgot, the original name given to the Iraq invasion and occupation was Operation Iraqi Liberation.

3 replies

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Why the war in Iraq was fought for Big Oil (Original Post) unhappycamper Mar 2013 OP

Bretton Woods is and has been under attack for more than a decade. reteachinwi Mar 2013 #1

Who "owns" Iraqi Big Oil now? no_hypocrisy Mar 2013 #2

That is as much a mess as the country is apparently. reteachinwi Mar 2013 #3

reteachinwi

(579 posts)

1. Bretton Woods is and has been under attack for more than a decade.

Reply to unhappycamper (Original post)

Sun Mar 24, 2013, 08:19 AM

Mar 2013

The Iraq war defended the dollar as the world's reserve currency, by design I believe. More on the way.

The Iranians are about to commit an "offense" far greater than Saddam Hussein's conversion to the euro of Iraq’s oil exports in the fall of 2000. Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005. While the publicly stated reasons will be over Iran's nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare - Iran's upcoming euro-based oil Bourse.

http://globalresearch.ca/articles/CLA410A.html

no_hypocrisy

(49,096 posts)

2. Who "owns" Iraqi Big Oil now?

Reply to unhappycamper (Original post)

Sun Mar 24, 2013, 08:46 AM

Mar 2013

reteachinwi

(579 posts)

3. That is as much a mess as the country is apparently.

Reply to no_hypocrisy (Reply #2)

Sun Mar 24, 2013, 09:36 AM

Mar 2013

“Remuneration fees now start later and for fewer barrels,” said Sabine Schels, an analyst with Bank of America Merrill Lynch. “Plus, fees ranging between US$1-US$3 bpd are very low, especially considering the large capital investments required for development. Such weak economics are prompting some international oil companies to opt out of their stakes.”

No wonder, while Exxon Mobil Corp., Royal Dutch Shell PLC and BP PLC led the country’s successful first licensing round in 2008, they were absent in the disastrous fourth round in 2012. Frustrated by Baghdad’s tough rules, Exxon Mobil signed six deals with KRG last year, angering Prime Minister Nouri al-Maliki’s government, which has threatened to cancel its contract in the 43-billion-barrel West Qurna 1 field in the south.

Following Exxon Mobil’s lead, ConocoPhillips Ltd., Eni SA and BG Group, all with operations in southern Iraq, have been eyeing the north.

Norway’s Statoil ASA sold its stake in the 140,000-bpd West Qurna 2 field in the south last year, leaving the central government in a state of panic.

http://business.financialpost.com/2013/03/22/two-iraqs-one-big-mess/?__lsa=679d-e9b6

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