quote: U.S. advisers and Iraqi oil officials, now studying how to organize Iraq's vast but dilapidated oil industry, are leaning heavily toward recommending the formation of a large state-run petroleum company. If adopted, the move could sharply curtail the role of international oil corporations for years.
Really that says everything, at least to me. Iraq will have complete control of their oil (assuming this is how the oil winds up being divided) instead of various companies coming in and getting it.
quote:The U.S. advisers and career officials at Iraq's Ministry of Oil say they feel that keeping the industry in state hands is crucial to allaying widespread concerns here that the American-led invasion of Iraq was an oil grab. Iraq's oil industry boasts reserves of about 112 billion barrels, second-largest in the world after Saudi Arabia.
It sounds like the real decision will be made in February, and the test will come in July, but this seems like a really good first step, proving that the war wasn’t about oil.
Also we have to realize that there are a number of people, both here at home and in the middle east, who will think we profited no matter what we do.
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