Iraq’s oil auction hits the jackpot: A Bad “Investment” for America

cheney-nov-5Neocons Must Be Pissed; China and Russia Are Getting the Sweet Oil Deals in Iraq.  Cheney and Rumsfeld’s script was never supposed to develop like this. Instead of US Big Oil getting the lion’s share in Iraq, its top competitors turned out to be big winners

Former United States vice president Dick Cheney, ex-defense minister Donald Rumsfeld and assorted US neo-cons will have plenty of time to nurse their apoplexy. One of their key reasons to unleash the war on Iraq in 2003 was to seize control of its precious oilfields and thus shape a great deal of the new great game in Eurasia – the energy front – by restricting the access of Europe and Asia to Iraq's staggering 115 billion barrels of proven oil reserves.

After at least US$2 trillion spent by Washington and arguably more than a million dead Iraqis, it has come to this: a pipe dream definitely buried this past weekend in Baghdad with round two of bids to exploit a number of vast and immensely profitable oil fields.

Full Story Asia Times Online :: Middle East News, Iraq, Iran current affairs.

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