Iraq Primed For Oil Windfall, U.S. Says

[sabra]

Source: CBS News/AP

American Reconstruction Officials Say Better Production, High Prices Could Benefit Iraqis

(CBS/AP) Rising Iraqi oil production and higher world oil prices could mean a multibillion dollar windfall to help Baghdad rebuild, a report said Wednesday.

Insurgent violence still hobbles the country's $114 billion reconstruction effort, and the possible flood of new money makes it all the more important for Iraqis to fight harder against corruption, said the quarterly report by Stuart W. Bowen Jr., special inspector general for Iraq reconstruction.

Iraq's oil production during the last quarter averaged 2.38 million barrels a day, the highest level since the 2003 U.S.-led invasion although still below prewar levels of 2.6 million, the report said.

That, coupled with record world oil prices, means that Iraq's national income could rise significantly in 2008, "creating the opportunity for significant economic investment," Bowen said in an interview Tuesday in advance of the report.

"How the government of Iraq manages that boon will in part determine the scope of the continuing success in Iraq," he said.

Read more: http://www.cbsnews.com/stories/2008/01/29/iraq/main3767801.shtml

[global1]

1. *Co's Plan All Along - Create So Much Turmoil In The World To Jack Up Oil Prices.....

so that the oil we stole from Iraq will pay for his 'boondoggle'. What genius!!!!!

[whosinpower]

2. I disagree

Because of his last signing statement that concludes that the US will be in control of the Iraq oil. So.....Iraq will not benefit - but the oil barons certainly will.

[madrchsod]

3. the only time the iraqi people benefited

from the oil wealth was under saddam. he built a first world country in the heart of the middle east and since the first gulf war EVERY american president has done every thing possible to drive iraq back to the days when the iraq`s were starving to death while the british and the iraqi elite lived a life of luxury.

[Baby Snooks]

7. His signing statement...

His signing statement means nothing in the end. We invaded Iraq to remove Saddam Hussein and his Baath Party. Now of course they need the Baath Party to restore order so we are "inviting" the Baathists back. Quite a few of whom fled to Syria. And once the Baathists regain power, which they will, they will revoke any oil law the Bush Boys manage to get the Iraqi Parliament to approve. So far, they haven't been able to. And that is the only reason why we are still occupying Iraq. Because that is why we "invade" Iraq to begin with. And then of course the CIA will "determine" at some point that the Baath Party has resumed its "weapons of mass destruction" programs and we will invade Iraq once more. Except next time, the Arab world may take issue with it and stand beside Iraq instead of the United States. Oligarchy is based on oilgarchy. And Iraq is crucial to maintaining it. Reality is most likely we cannot. We. They. We are not part of they. The oligarchists. The Republicrats.

They want McCain. Because despite the polls and pundits, they believe McCain will ensure Clinton will become the president. The oligarchy continues. Those who don't believe it will under Hillary Clinton need only look at Bill Clinton who continued the policy of George HW Bush in Iraq and that policy, supported by Bill Clinton, was summed up best by Madeline Albright when she slipped and said that the deaths of 500,000 Iraqi were worth it. No one really asked what the "it" was.

It was, and is, the policy to control Iraq and therefore control the oil reserves. Which may prove crucial if indeed we are headed for oil depletion of the other reserves. Because it will become "our" oil.

Our. Their. We are part of they in this case. Our unbridled consumption. Our dwindling reserves and the dwindling reserves of countries we import from. Mexico in particular. Most Americans share a selfishness with regard to oil consumption. And won't bat an eyelash over another war if need be just to be able to pull the old Hummer up to the gas pump and fill it up with relatively affordable gas compared to relatively unaffordable gas in other countries. And it may happen sooner than we think.

Most Democrats complain about the price of gas. About the obscene profits of the oil companies. Some of which unfortunately is put back into production of more oil and more gas. And many speak of the reserves in the Gulf of Mexico. Calling it "our" oil. It is the oil of the multinational oil companies which are part of the oligarchy.

When Lloyd Bentsen ran against George HW Bush for the US Senate, it became a race between the independent oilmen and the multinational companies which were known as the Seven Sisters. Bush lost the race. But the Seven Sisters still prevailed. They just started buying Congress.

We are probably headed for a major war in the Middle East. Over oil.

One which Hillary Clinton will support. And declare.

[whosinpower]

9. I would agree with part of your assessment - but

Once the Iraqi oil law is passed - the one that Bush wants - does not mean that american troops will come home. They will not. Have to stay there to fight terrorists - er - actually....to make sure any future governments do not do what you have just surmized.

I agree with your assessment of Clinton in this case. The only way to avert a catastrophic war over oil is renewables, or new technology. However, that puts the military industrial complex in a bit of a pickle.....so it is a vicious circle. How can you defend spending half a trillion/year on the military if there is no enemy? They need an enemy to validate existance, and they need an enemy to exploit resources of other nations. Or how can you spend half a trillion/year if there is no resource to plunder? And these guys are very very powerful. They don't want to explore renewable energy sources or technology that would wean us all of the fossil fuel train.

Take out the oil card from the middle eastern deck, and what would that do to powerful interests who gain the most from exploitations from war? However, renewables cannot sustain the current american lifestyle as you pointed out. And no one talks much about this effect on the globe other than global warming.

[sinkingfeeling]

4. And that's exactly why we'll be there until at least 2018 and if McCain wins, forever.

[gratuitous]

5. How's that going to happen?

After all, nobody seems to know how much oil is being pumped, who's shipping it, who's paying for it, or even if it's being paid for. So, under those circumstances, how is Iraq supposed to benefit?

[global1]

6. Cheney Knows.........nt

[Javaman]

8. Iraq: largest money laundering operation in the history of the world. nt

[NickB79]

10. Right up there with how Iraq will pay for the war with their oil profits

How's that coming along?

[pinniped]

11. That 'could' is a big if, and don't count on it

American Reconstruction Officials Say Better Production, High Prices Could Benefit Iraqis

Ya right. This stupid article doesn't mention that the US is the fucking corrupt party here.

makes it all the more important for Iraqis to fight harder against corruption

[LynnTheDem]

12. Ohhh goodie!!! More $ billions to go "missing"!!!

The bush cartel are really gonna be rwar-profiteering!!!

[Thor_MN]

13. So Wolfowitz is going to be going to Iraq to collect some of that to pay for the "War"?

He promised it would pay for itself, it's time for him to step up and go collect the money.