If you think that this world is somewhat mostly controlled by the US, I think that it is possible to rethink this issue, especially when it comes to oil and their prices. This article explained the most recent talk among nations that discussed and made an agreement which could potientially change the path of many other nations on a global scale.
Since the fall of Saddam Hussein Iraq and China have come to an agreement when it comes to the oil issues that are being felt around this world. The agreement was on the terms of a $3 billion oil-service contract, this was the first of its kind since the fall of Hussein. For the first time in many years China has now beaten international oil majors, including the US. The Iraqi Oil Minister explains how he has warned numerous times to the big Western oil firms for the Iraqi contracts but now it is to late, Iraq and China have made that agreement.
Just hearing this news makes me question the intentions that the US has when it comes down to oil. What will it take for the US government to realize that such agreements that China and Iraq have made are slipping through the cracks and there will come a point where it is simply to late. There are numerous consequences that could come about and the one that is most concerning to myself is how much gas prices will skyrocket.
The article further more explains how much a need Iraq has to build back up from the overall net losses that was incurred from when Hussein. Their attempts to reaching out to surrounding nations and hopes of gaining 10 contracts have not been able to be accomplished. Iraq has high hopes for their oil industry and I believe that they are becoming successful. Just last month in July Iraq pumped around 2.4 million bpd and has the hopes of succeding in this endeavor.
The question still remains that I am left wanting to ask is, if the US is intending on helping out Iraq then why did the US not jump at the chance in signing a contract with Iraq?
http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20080827.wiraqchina0827/business/Business/businessBN/ctv-business
No comments:
Post a Comment