Common Dreams: US to Take Bigger Bite of Iraq's Economic Pie

[Raster]

http://www.commondreams.org/headlines04/1224-05.htm

Helping' Govt Cut Social Subsidies, Give US Corporations Full Access to Iraqi Oil
by Emad Mekay

WASHINGTON - The United States is helping the interim Iraqi government continue to make major economic changes, including cuts to social subsidies, full access for U.S. companies to the nation's oil reserves and reconsideration of oil deals that the previous regime signed with France and Russia.

During a visit here this week, officials of the U.S.-backed administration detailed some of the economic moves planned for Iraq, many of them appearing to give U.S. corporations greater reach into the occupied nation's economy.

For example, the current leadership is looking at privatizing the Iraqi National Oil Company, said Finance Minister Adil Abdel Mahdi.

The government, which is supposed to be replaced after elections scheduled for January, will also pass a new law that will further open Iraq's huge oil reserves to foreign companies. U.S. firms are expected to gain the lion's share of access in a process estimated to be worth billions of dollars.

<snip, shamefully more>

http://www.commondreams.org/headlines04/1224-05.htm

[ayeshahaqqiqa]

1. this was the whole point

to gain access to oil and have a corporate takeover of yet another country.

[Disturbed]

2. No surprise!

Why was Iraq invaded?

Because of three things:

1) Iraq being cleared of WMD by the UNMOVIC/UNSCOM meant Desert Storm (when Saddam went off the reservation) was over and sanctions had to be lifted.

2) Iraq had European contracts for their oil.

3) Iraq was going to trade the oil in Euros not petrodollars.

"Remember, Bush/Saud are the same thing. BDM/Vinnel (Carlyle at the time) arm, train, equip man what keeps Saud in power. Saudi crude funds the whole Bush/Saud crew. Iraq suddenly free again to sell its oil, and in Euros not only screws Bush/Saud, but would cripple the US economy along multiple fracture lines.

First and obviously, having the 2nd largest oil reserve of accessible crude come onto the market will drive the value of Saudi crude into the basement. That Iraq would end run the rest of OPEC to make up for a decade of being starved would scatter the cartel members into the winds to fend for themselves. So what is better, to let Iraq crude take out your own operation at the knees or take it over and roll it into the same portfolio.

Second, because Iraq was gonna devalue your own assets in the first place, doing so outside our traditional partner firms and with European (French, Russian, German) firms visions of Chinnese orders means you are not getting a swing at that crude even in the rest of the chain.

Third, and most critical (and actually more "forgivable" in a strange circumpolar way) is that trading in Euros not petrodollars collapse our capital market funding of our debt and deficits, both Governmental budget and general economic. If China (as its demand for oil goes through the roof in the next 10 years) starts trading with Iraq, and the Euro becomes the currency for oil (not to mention it is already on the edge of surpassing the dollar for capital markets anyway base don value as it is) suddenly China has no need to continue to buy our debt. It would get more of a return in Euros, plus it buys oil form Iraq in Euros."
Christian Parenti

[ixion]

3. when * launched his war of aggression on Iraq, the first words out of his

mouth were "don't touch the oil wells".

It's been pretty obvious that this was there goal from the beginning.