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Thread: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

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    U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    U.S. Companies Shut Out as Iraq Auctions Its Oil Fields - TIME

    By Vivienne Walt Saturday, Dec. 19, 2009

    Those who claim that the U.S. invaded Iraq in 2003 to get control of the country's giant oil reserves will be left scratching their heads by the results of last weekend's auction of Iraqi oil contracts: Not a single U.S. company secured a deal in the auction of contracts that will shape the Iraqi oil industry for the next couple of decades. Two of the most lucrative of the multi-billion-dollar oil contracts went to two countries which bitterly opposed the U.S. invasion Russia and China while even Total Oil of France, which led the charge to deny international approval for the war at the U.N. Security Council in 2003, won a bigger stake than the Americans in the most recent auction. "[The distribution of oil contracts] certainly answers the theory that the war was for the benefit of big U.S. oil interests," says Alex Munton, Middle East oil analyst for the energy consultancy Wood Mackenzie, whose clients include major U.S. companies. "That has not been demonstrated by what has happened this week."
    Well, there's that...

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Not that I agree with the theory that Oil was the primary cause for the war, but this doesn't actually prove the opposite. Considering a new administration is in power, whatever the original intent was, it doesn't shape U.S. policy anymore.

    This doesn't come as much of a surprise to me. The Iraqi's are still pissed at us for invading their countries, at the oil will be easier to extract with terrorist attacks if a more neutral country is doing the work. China and Russia obviously wouldn't pass up a deal like this, regardless of previous stance on the issue.

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Invading Iraq and facilitating a more compliant government still frees up the oil more efficiently for the open market, which in turn affects global prices. It doesn't so much matter who is in control of the infrastructure, the Iraqi government, which is now compliant with the West, will have control over it. It will put pressure on OPEC to liberalize supply once the drills get going.

    And if you think there aren't American shareholders in Russian and Chinese oil companies, you need to recheck your facts. The money trail still leads back to the financial elites, which is who the war was ultimately for.
    Last edited by Orion; 12-20-09 at 01:29 AM.

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by Orius View Post
    Invading Iraq and facilitating a more compliant government still frees up the oil more efficiently for the open market, which in turn affects global prices. It doesn't so much matter who is in control of the infrastructure, the Iraqi government, which is now compliant with the West, will have control over it. It will put pressure on OPEC to liberalize supply once the drills get going.

    And if you think there aren't American shareholders in Russian and Chinese oil companies, you need to recheck your facts. The money trail still leads back to the financial elites, which is who the war was ultimately for.
    Can't admit you were wrong, can you? Too much pride. The war for oil, what a lie, PERPETRATED BY THE LEFT FOR 8 YEARS.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by American View Post
    Can't admit you were wrong, can you? Too much pride. The war for oil, what a lie, PERPETRATED BY THE LEFT FOR 8 YEARS.
    It's not about right or wrong. I was never one of those war for oil protesters. I'm just demonstrating that it's not black and white. Iraq's economy is now on the open market for investment so that doesn't mean there won't be American involvement. Selecting China and Russia to be the prime contenders was a good PR move.

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by American View Post
    Can't admit you were wrong, can you? Too much pride. The war for oil, what a lie, PERPETRATED BY THE LEFT FOR 8 YEARS.
    I agree, American. Those damned leftists are too damned stubborn to admit they were wrong!

    Maybe you should remind them of the dignity and poise with which the right conceded the issue after having their stated reasons for the war disproved. (Saddam causing 9/11, Iraq poised to turn American cities into mushroom clouds)

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Not exactly a shocker provided that the Iraqi Government was free to do what it wanted. It would always have been non US/UK companies that would have won those contracts in a situation where it was the Iraqies and not the American's who was holding the auction. Why? Because there are far older and better traditional contacts between Iraq and those countries than there ever has been with the US and people tend to stick with what they know. I would also wager when it comes to buying weapons it again will be Russia, China and France who will get most of the contracts.
    PeteEU

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by American View Post
    Can't admit you were wrong, can you? Too much pride. The war for oil, what a lie, PERPETRATED BY THE LEFT FOR 8 YEARS.
    Clearly you missed the discussion revolving around Wolfowitz regarding invading Iraq as a tool to break OPEC which is extremely related to Orius's post. Granted, I probably would have supported the war if they just said that from the get go.

    Furthermore, if Iraq didn't have oil and wasn't situated in a oil region we wouldn't give a ****.

    One has to bathe in the kool-aid regularly to think we would have invaded Iraq if it had no impact upon oil.

    U.S. Adviser Says Iraq May Break With OPEC; Carroll Hints Nation Could Void Contracts - The Washington Post | Encyclopedia.com

    If you took the country with the 2nd largest proven reserves, got its production up to max and sold outside of the cartel, what effect would have that have on oil prices?
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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by American View Post
    Can't admit you were wrong, can you? Too much pride. The war for oil, what a lie, PERPETRATED BY THE LEFT FOR 8 YEARS.
    Not only by the left, also by part of the right. It was often followed with words such as 'american interests', 'geostrategical blablabla' and 'get lost, you freeloading european hippy'.

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    Re: U.S. Companies Shut Out as Iraq Auctions Its Oil Fields

    Quote Originally Posted by Ethereal View Post
    Well, there's that...
    We should have been given the oil. Why in the hell were these countries allowed to out bid us? What a joke. Again we get *&^%ed.

    Maybe, it may mean that we get most of our oil from Canada?

    Where does the U.S. get their oil from?
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