"T. Boone Pickens on Iraq: 'We leave there with the Chinese getting the oil'"

Kali on the Haight by Danny B!.

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.