Domestice oil future

[old5.0]

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There is a reason we rushed into Iraq in 2003. They have all the oil. (And we had to beat the Chinese to it.)

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Which is why the Iraqis just contracted oil development in the Rumaila field out to British Petroleum and China National Petroleum Corporation (CNPC). CNPC also has exclusive development rights to the al-Ahdab field. The Italian firm Eni is contracted on the Zubair field. Conoco and Exxon are in bidding talks on the West Qurna field, but as of now no American developers are making a dime off Iraqi oil. But we had to get in and get that oil for ourselves. It all makes perfect sense!