Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The contract with the China National Petroleum Corporation could be worth up to $3 billion. It would allow the CNPC to develop an oil field in southern Iraq's Wasit province for about 20 years, said Oil Ministry spokesman Assim Jihad.
Iraq (for now, anyway) likely wont sign a 'deal' with anyone unless we sign off on it
You are kidding aren't you? Read the article they have already signed and it awaits their cabinet approval and is a done deal. They are not our 51st state.
Ok we spend 10 billion and get back? China spends 3 billion and gets oil rights? Something isn't wrong with this picture to you? China gets for their money and we get more debt?
Iraq (for now, anyway) likely wont sign a 'deal' with anyone unless we sign off on it
They are selling oil to the Syrians for less than they are offering it to us. We do not control their oil. This failed nation building exercise did not reap us many benefits.
"It was the first time in more than 35 years that Iraq has allowed foreign oil companies to do business inside its borders."
"Iraq's Cabinet must still approve the contract, but Jihad said that would happen soon, and work could start within a few months.
The Chinese company will provide technical advisers, oil workers and equipment to develop the al-Ahdab oil field, providing fuel for the al-Zubaidiya power plant in Wasit, southeast of Baghdad, bordering Iran, Jihad said."
Now we owe Billions in debt to a Nation who just got a 20 year oil lease in a Nation we "liberated". Absolutely Amazing.
I have a dear friend who flew for Saudi Air for years and he loved many of the folks to pieces, but he always said, that Westerners are considered inferior to the Saudis and we will not really get much but grudging respect for doing the work they would not like to do. Having been a career AF officer, he found it difficult at times to accept his "Mexican Houseboy" status in Saudi. (His words) Since the culture is similar, I assume the Iraqis will feel the same way once we have cleaned up after ourselves.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.