Monday, June 30, 2008

Oil wells that ends well

Iraq has opened six major oil fields to oil firms for development. The Iraqi oil ministry has opened the fields for bids by 41 foreign companies. It's a big deal because most Middle Eastern oil development is nationally run. However, any firm that wants a piece of the action first has to open an office in Baghdad. It seems, though, that five companies from the U.S. and the U.K. -- Exxon Mobil, Shell, BP, Total and Chevron -- got no-bid contracts to work in those fields. The U.S. State Department claims it only provided advisors to an understaffed ministry. And, of course, no one believes them. Just like no believes it when Team Bush claims it's not preparing for a war with Iran.

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