You let Dick Cheney use the military like his own private thug team and assassinate Saddam and install a failed puppet gov't in Iraq, spend a trillion tax dollars and send oil to $100 a barrel causing devistation to the US economy over the next 10 years, send over 4000 american troops to their deaths and maim thousands more, all so that Haliburton could have guaranteed access to any oil business in Iraq.
And now China is reaping the "rewards" of all that destruction.
You deserve the festering cesspool that your economy and society has become over these past 10 years.
This is what you get when you let your corporations formulate your foreign policy. And you will continue to let them because you're populated with stupid boobs for citizens.
Why are you not celibrating the 10'th anniversary of your "liberation" of Iraq?
Why is this not a national holiday in the USA?
Because this is your national shame - that's why.
You have failed as a people that is supposed to be in control of your government. The founding fathers would be ashamed for what you let your gov't do. They are turning in their graves because you do not deserve the rights they enshrined to you.
In their eyes, you can do no better now than to continue to use your own guns to kill yourselves off.
Modified Wednesday, March 27, 2013
Iraqi oil: Once seen as U.S. boon, now its mostly Chinas
WASHINGTON Ten years after the United States invaded and occupied Iraq, the countrys oil industry is poised to boom and make the troubled nation the No.2 oil exporter in the world. But the nation thats moving to take advantage of Iraqs riches isnt the United States. Its China.
America, with its own homegrown energy bonanza, isnt going after the petroleum that lies beneath Iraqs sands nearly as aggressively as is China, a country hungry to fuel its rise as an economic power.
Iraq remains highly unstable in terms of security, infrastructure and politics. Chinese state-owned oil companies appear more willing to put up with that than Americans are.
The Chinese have a higher tolerance for risk, said Gal Luft, a co-director of the Institute for the Analysis of Global Security, a Washington research center focused on energy.
The International Energy Agency expects China to become the main customer for Iraqs vast oil reserves. Fatih Birol, the agencys chief economist, recently declared a new trade axis is being formed between Baghdad and Beijing. Birol said that about 80 percent of Iraqs future oil exports were expected to go to Asia, mainly to China.
Iraqs potential for oil production is huge. The International Energy Agency predicts that Iraqi production will more than double in the next eight years and that the country will be by far the largest contributor to growth in the global oil supply over the next two decades. By the 2030s, the agency expects Iraq to become the second largest global oil exporter, overtaking Russia.
American oil companies, in the meantime, are barely active in Iraq, said Robin Mills of Dubai-based Manaar Energy Consulting.
Theres Exxon Mobil, which is locked in a dispute with the Iraqi government and is looking to sell at least some of its stake in the giant West Qurna-1 oil field, with the state-owned PetroChina discussed as likely buyer. The other U.S. firm operating in Iraq is Occidental Petroleum Corp., Mills said, a company that has just a minority, non-operating stake in the Zubair oil field.
Iraq hasnt become the bonanza for big Western international oil companies that some might have expected when the U.S. invaded 10 years ago.
Its a different story, though, for the U.S. oil field services and engineering companies that have established dominant positions in Iraq. That includes Haliburton, the company that Iraq war booster Dick Cheney led before he became vice president.
Bush administration officials suggested shortly after the invasion that revenue from Iraqs oil fields could largely pay the cost of rebuilding the country. That turned out to be wrong, and $60 billion in American taxpayer funds ended up going into the reconstruction of Iraq. The war devastated Iraqs oil industry, as kidnappings, sabotage and attacks on infrastructure made it virtually impossible to do business.
While the industrys improvement in Iraq since 2009 has been substantial, according to analysts, the country remains a tough place to work. Huge problems remain with infrastructure, security and logistics.
The contract terms the Iraqi government offers oil companies also arent attractive, said Trevor Houser, an energy specialist with the New York-based Rhodium Group consulting firm. China is expanding in Iraq because it needs the energy and it doesnt have alternatives that are as good as those of Western oil companies, he said.
The most profitable places in the world to work as an oil company are the North American unconventional fields such as shale deposits in the Eastern U.S. and the deepwater fields in West Africa or the Gulf of Mexico, Houser said. China has limited opportunities in those places, he said, with the state-owned oil company PetroChina lacking the technological sophistication needed for deepwater production.
The fact that (PetroChina) is expanding in Iraq is not to me a sign of their strength, its a sign of their relative weakness, Houser said.
Birol, the chief economist at the International Energy Agency, said that nearly a third of the future oil production in Iraq was expected to come from fields that either were directly owned or co-led by Chinese companies.
Oil companies from the U.S. and other Western nations have been more interested in the Kurdistan region of Iraq, a largely autonomous area that doesnt take orders from Baghdad. Kurdistan offers more stability and better contract terms to the international oil companies, to the fury of the Baghdad government, which is charged with handling international affairs and calls the contracts illegal.
Western oil companies generally have more attractive global investment opportunities than Iraq, said Luft, whos an adviser to the U.S. Energy Security Council, a nonprofit group that works to lessen dependence on fossil fuels..
They also need to answer to their shareholders, and they see the world differently from the way state-owned Chinese companies do, he said.The Chinese oil companies are more in tune with the geopolitical agenda of their government and respond less to shareholders, Luft said. If Exxon operates somewhere and has to close down operations for a month, that would have an impact on investors. When the Chinese go into one of those places and something bad happens, there is not the consequence in terms of stock.
Luft said he didnt see Chinese development of Iraqs oil as a case of China enjoying the spoils of a war for which the U.S. had paid dearly both in lives and taxpayer dollars.
Its a myth that U.S. energy security relies on Middle Eastern imports, he said. Oil from the region makes up just a small percentage of what America uses. The U.S. will benefit if China or anyone else can get Iraqis huge reserves developed and onto the market, he said. Since oil is a global commodity, he said, more oil on the market brings down prices.
Energy security is about not only the availability of the resource but also about the cost, Luft said. Anything that brings down global oil prices is positive for U.S. energy security.