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Iraq's Giant Oil Fields Go on Auction Block

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Obwon

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Dec 15, 2009, 1:42:53 PM12/15/09
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Iraq's Giant Oil Fields Go on Auction Block

Jane Arraf, GlobalPost: "Iraq literally rolled out the red
carpet for foreign oil executives Friday at a bidding round
that auctioned off the rights to develop some of the world's
last known giant reserves of cheap oil. After the first oil
auction in June, when international oil companies were
asking up to 10 times more profit what the Iraqi government
was offering, Friday's winning bids made clear that European
and Asian firms at least were willing to settle for a lot
less to get in on the market."
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http://messenger.truthout.org/ss/link.php?M=178958&N=407&C=ec0a68b6adc0d76de1c2a4282d2daf54&L=3560

God'sLittleAnus

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Dec 15, 2009, 2:02:08 PM12/15/09
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Of course the successful bidders will have to bring brigades of guards
with 'em once they arrive in-country to start drilling operations.

Then, when the wells are ready for production -- if ever -- whatever
Islamic government rules the bulk of Iraq will nationalize the
companies' properties, and another civil war will break out over
petroleum rights!

Why do you think U.S. oil is largely holding off at this time on
bidding for doubtful access?

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