Monday, January 8, 2007

 

Future of Iraq: The spoils of war

`Iraq’s massive oil reserves, the third-largest in the world, are about to be thrown open for large-scale exploitation by Western oil companies under a controversial law which is expected to come before the Iraqi parliament within days.

The US government has been involved in drawing up the law, a draft of which has been seen by The Independent on Sunday. It would give big oil companies such as BP, Shell and Exxon 30-year contracts to extract Iraqi crude and allow the first large-scale operation of foreign oil interests in the country since the industry was nationalised in 1972.’

That’s a surprise. It never even occurred to me that the US government might have some interest in Iraqi oil fields.




Leave a Reply

site-map