December 18, 2009

Did America Lose Out on Iraq's Oil?

Donald Snow, Atlantic Council

AP Photo

The announcement last week that the Iraqi government had awarded foreign contracts for the exploitation of a number of its oil fields created a remarkably mild, one-day reaction in the popular press. The gist of the awards, of course, was that virtually everybody, from the Russians and Chinese to the Malaysians and Angolans, were given contracts on one field or another, while American companies were essentially left holding the bag, with participation in a couple of relatively minor deals. This is not how this aspect of the Iraq war was supposed to work out, and Secretary of State Hillary Clinton’s lame comment that it shows private enterprise is alive and well in Baghdad did little to assuage those who expected more for Uncle Sam.

Two not especially complimentary...

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TAGGED: Iraq, oil fields, Iraqi Government, Hillary Clinton, Secretary of State

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