Posted on 07/04/2008 7:37:32 PM PDT by shrinkermd
Here's a thought experiment: Assume that Iraq's democratic government declared it was nationalizing its oil industry while excluding American companies from the country. How do you think U.S. politicians would react? With angry cries of "ingratitude" and "this is what Americans died for"?
Of course they would, led no doubt by that critic for all reasons, Senator Chuck Schumer of New York. So it is passing strange that Mr. Schumer and other Senators are now assailing Iraq precisely because it is opening up to foreign oil companies, especially to U.S. majors like Exxon Mobil and Chevron. For some American pols, everything that happens in Iraq is bad news, especially when it's good news for the U.S.
Iraq announced this week that it is inviting global competition to develop its major oil reserves, with 35 oil companies invited to bid. By tapping outside capital and expertise, Iraq hopes to increase production by 60%, providing a much-needed boost to its own coffers and the world's tight oil supply.
This is welcome news. With elections looming later this year and next, the temptation for Prime Minister Nouri al-Maliki's government must have been to play the nationalist card – the way that Mr. Schumer did against Dubai Ports World's proposed U.S. investment in 2006
Many Iraqis remain suspicious of outside oil companies – the legacy of a colonial past in which Iraq felt exploited for its oil.
Instead, Iraq chose competitive bidding that will bring in the best expertise to exploit its national resource. Oil Minister Hussain al-Shahristani is predicting that, with outside help, Iraq could become the second or third largest oil-producing country in the world. Today it produces about 2.5 million barrels a day, compared to 11 million for the world-leading Saudis.
(Excerpt) Read more at online.wsj.com ...
A win/win for Iraq/US IMHO.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Iraq is a new free market ally. It's good to be friends with good people.
This is precisely why I can’t stand McCain’s insistence on “reaching across the aisle” to placate the dems. It should be obvious to anyone with a half functioning brain that to dems the only policy that is ever good is one that they have implemented, otherwise it is eeeeevil.
nancy pelosi says “oil makes us sick”.
so, she would appreciate iraq kicking western oil co’s out.
si.
TO BOTH OF THE PHONY POLITICAL PARTIES: DEMICANS AND REPUBLICRATS: What happened to the “Iraqi Oil will pay for our liberation of that country? Seems that was the premise when we first went in there and the war was to be repaid back in oil. For shame that we cannot keep those facts in the forefront.
How else can you smack them upside their wooden heads?
Very true. No wonder they want to establish the ground rule that no one’s patriotism should be challenged. McCain can be the enforcer.
I have a vague recollection of that. It would be nice to have some quotes.
And yet, she doesn't seem to think that Botox does. Go figure.
;-)
The words “Pelosi” and “think” cannot be used in the same sentence! :-)
has anybody given any thought to who (other than the iraqis) will bear the brunt of the expense in lives and treasure for protecting foreign oil companies from terrorists/insurgents after they get their contracts with Iraq. That would be us I believe, so why shouldn’t our oil companies be the ones that mainly benefit from those contracts. why should we keep spending lives and treasure to make that area safe for France, Russia, China etc to reap profits from oil contracts.
Unless "doesn't" is in there.
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