Iraq signs $3B oil deal with China

CNN ^

[DemonDeac]

" Iraq has signed its first major oil deal with a foreign company since the fall of Saddam Hussein's regime, a spokesman for the Iraqi Oil Ministry said Saturday."

"It was the first time in more than 35 years that Iraq has allowed foreign oil companies to do business inside its borders.

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."

[DemonDeac]

Thanks for the gratitude folks!

[Perdogg]

The first oil contract went to Lukoil

[Flavius]

pretty cheap for chicoms to look the other way

wonder what they get to look away from

[cripplecreek]

What do you expect from the folks who arm terrorists? (China) On the other hand it’s not like there’ll be a peep of protest from the USA.

[TommyDale]

Se we sacrificed U.S. lives and taxpayer dollars, so Iraq could build a surplus and help the Chinese?

[Blue Turtle]

Freepers please help me understand....THE UNITED STATES FREED IRAQ......THE UNITED STATES NEEDS OIL....IRAQ GIVES OIL TO CHINA ????

[kanawa]

IRAQ GIVES OIL TO CHINA ????

They're not "giving" oil to China...it's a contract to develop an oil field.

[UnbelievingScumOnTheOtherSide]

You would prefer China to launch wars to get its oil?

[TLI]

Yep. Plus that 3 bil just might be a less than cost, ChiCom gov subsidized number. An American Company possibly would loose their shirt trying to do the work for that amount.

The real question would be "in the crude from that field going to be sold on the open global market?"

[LomanBill]

>>You would prefer China to launch wars to get its oil?

Yes.

We’re going to have to deal with that sooner or later - and the sooner the better.

And remember - China only has the ability to engage in such blackmail because Rhodes Scholar Comrade Clintoon gave them the technological ability to do so.

[ffusco]

The results are in for the Ungrateful Douchbag awards:
Gold: France
Silver: Iraq
Bronze: Russia

[cripplecreek]

Considering the fact that China is arming our enemies, seems that we’re already in a war with them. Granted it’s one that we’re paying for but that’s globalist patriotism for you.

[KriegerGeist]

"They're not "giving" oil to China...it's a contract to develop an oil field.

This bothers me FAR & AWAY less than the Chi-Coms trying to develop an oil field in OUR Gulf of Mexico!

Frankly, I don't care that the Iraqis sell their oil to China because China needs oil. I sometimes think I feel a stroke coming on because we don't develop our own oil that is all around us for ourselves and let the Middle East sell to everyone else.

My un-educated opinion, but common sense tells me that if we dotted the the U.S. with new third-generation nuke power plants and new high-output-per-ton-clean-coal plants for electricity. Then, developped our own oil reserves from ANWAR to the lower 48 and offshore for natural gas and fuel & gasoline... we would not need the Middle East's oil. In addition, build new refineries of our own to cover that part of the problem as well.

I'm glad the Iraqis are free and hope they prosper and have a future and remain somewhat of an ally. It would be nice if they paid us back with oil...but oil is not the reason we did what we did.

[LoneRangerMassachusetts]

Bush’s fault. Really.

[LomanBill]

[Frankly, I don't care that the Iraqis sell their oil to China because China needs oil.]

 

Absolutely amazing that folks today would so willingly facilitate the Communist Chinese.

 

"It's just bidness."

 

Until the Communist panda changes its spots, it should be starved and weakened.

[KriegerGeist]

"Until the Communist panda changes its spots, it should be starved and weakened."

I'm not willing anything to the Chi-Coms! However, pardon my ignorance and I'm willing to be educated...how do WE starve and weaken the Chi-Coms regarding oil? We can't make the Iraqis not sell oil to the Chi-Coms. It's not our oil.

My whole point was to develop our own oil resources so we don't need ANY oil from the M.E. and let the M.E. sell to whomever they choose. China is going to get oil from whoever China can buy it from...Iran, Iraq, Russia or even Venezuela if the can...

[LomanBill]

[My whole point was to develop our own oil resources so we don't need ANY oil from the M.E. and let the M.E. sell to whomever they choose.]

 

We?

 

British Petroleum is the largest developer of Oil on American soil. 

 

http://www.eia.doe.gov/pub/oil_gas/natural_gas/data_publications/crude_oil_natural_gas_reserves/current/pdf/appa.pdf

 

I suspect they're also participating, via Chinese proxy, in the exploitation of oil off American shores

 

Draiiiinage!

 

Neither the British Royals nor the Chinese Communists have demonstrated an affinity for the ideals of individual Freedom, Equality, and Justice for ALL  that were articulated by the writers of the American Declaration of Independence.

 

[We can't make the Iraqis not sell oil to the Chi-Coms. It's not our oil.]

 

Well, consider it the cost for American provided security.

 

Perhaps you and the Iraqis would prefer the Chi-Coms to provide security for Iraq's oil fields?   I don't see how that would be in the best interests of U.S. national security.

 

 

[KriegerGeist]

OK! I give up! You are right and I am wrong!

That said, whatever it is you believe that the U.S. should do or could do regarding this situation, the U.S. won't do. Not without leadership, and that is precicely what we are without, especially in Congress and may God forbid, in the White House if things go the other way. Even if McCain-Palin win, this situation will not be resolved to your satisfaction any time in the forseeable future. The Chi-Coms are now a monster that only God Himself can confront or take to task. We have our hands full as it is.

[Pete98]

Well, WE can’t develop Iraq’s oil fields because our Leftists will not allow it. So, why be a dog in the manger? Let the Chinese drill it. Oil is fungible. The more that gets drilled - by anyone - the more the price will come down worldwide.

I don’t know about you, but I’m definitely ready for the price to come down a bit.

[Centurion2000]

pretty cheap for chicoms to look the other way
wonder what they get to look away from

Hmmm ... Iran.