."T. Boone Pickens on Iraq: 'We leave there with the Chinese getting the oil'"
As I've mentioned several times, Iraq is one of the biggest foreign policy disasters in American history. While, one can argue whether or not the US should have invaded Iraq in the first place, once it did, to not benefit from such an occupation, is the stuff of geo-political nightmares. And to benefit the Chinese and Europeans who offered no help or engendered any risk is laughably stupid on the part of the US.
Oil magnate T. Boone Pickens highlights the American loss of Iraqi petroleum rights:
T. Boone Pickens told Congress that U.S. companies were losing opportunities in the Iraqi crude oil and natural gas sectors to competitors from China and Europe.
The senior executive said the United States could lose all influence in the Iraqi oil sector after the military withdrawal in 2011.
"They're opening them [oil fields] up to other companies all over the world," Pickens told the Congressional Natural Gas Caucus on Oct. 21.
"We leave there with the Chinese getting the oil," he said.
Pickens urged Congress to demand a U.S. share of Iraqi oil exploration and development contracts.
Labels: Chinese influence in the Middle East, geopolitics of the Middle East, oil rights in Iraq, T. Boone Pickens on Iraq
posted by Mister Ghost at 11:04 PM
3 Comments:
The Chinese paid for it. It's "their" oil, we are just securing open markets for it...Pickens know that.
And when O abandons Kirkuk, he will be pushing that oil off on the Russians.
On that day, we are all PKK...
They 'paid' for it? Funny, usually the costs of wars in the ME are used as 'hidden costs of oil' for the justification for blowing billions on inefficient pipe dream renewable energy boondoggles. But, what Pickens does know is that if China wasn't buying Iraqi oil they'd be buying Venezuelan oil or some other oil we are in competition for. More sources and supply bring down the price. It's closer to China, so why shouldn't they buy it? They can afford to pay more for it and they would just as soon dump those dying dollars in Iraq as anywhere else. The ME is going to be the receptacle for a lot of useless paper over the next decade.
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