GOP nightmare in an AP headline: "Iraq signs $3 billion oil deal with China"

[Bozita]

Advertise this and the Republicon Party hits the "Endangered Species" list before the end of the year.


http://edition.cnn.com/2008/BUSINESS/08/30/iraq.china.oil.deal/index.html

Iraq signs $3 billion oil deal with China

Story Highlights
Iraq signs $3 billion oil deal with Chinese national oil company
Deal is first major contract with foreign company since fall of Saddam Hussein
China National Petroleum Corporation to develop oil field in southern Wasit province
Oil field expected to produce 125,000 barrels a day within three years

BAGHDAD, Iraq (CNN) -- Iraq has signed its first major oil deal with a foreign company since the fall of Saddam Hussein's regime, a spokesman for the Iraqi Oil Ministry said Saturday.

It was the first time in more than 35 years that Iraq has allowed foreign oil companies to do business inside its borders.

The contract with the China National Petroleum Corporation could be worth up to $3 billion. It would allow the CNPC to develop an oil field in southern Iraq's Wasit province for about 20 years, Oil Ministry spokesman Assim Jihad said.

Iraq's Cabinet must still approve the contract, but Jihad said that would happen soon and work could start within a few months.

The Chinese company will provide technical advisers, oil workers and equipment to develop al-Ahdab oil field, providing fuel for al-Zubaidiya power plant in Wasit, southeast of Baghdad, bordering Iran, Jihad said.

Once development begins, the field is expected to start producing a preliminary amount of 25,000 barrels of oil a day and an estimated constant daily amount of 125,000 barrels after three years, he said.

more...

[1corona4u]

1. Oh boy.

[Catch22Dem]

2. Oil Ministry spokesman Assim Jihad

What an unfortunate name

[Nikki Stone1]

3. Have our people died to get oil for China?

Is that what this war was about?

[Just-plain-Kathy]

11. I'm not going to pretend that I know what I'm talking about on this subject...BUT

could it be possible, that we went to war in order to allow American oil companies back into Iraq...Maybe when it's reported that "Iraq" make this deal, it's really American oil companies making this $3 billion?

[glitch]

23. bingo.

so it's not really blood for oil, it's blood for oil company profits.

Which is why they could barely keep a straight face when they kept denying it was blood for oil.

[vaberella]

27. Not in the case of China. China is a new power player in the game and slaps Retort in the face.

It's way of maneuvering and operating is slightly differen and this deals more about landlords and independent nations changing the Capitalist dynamic. National oil companies in China would be competing with US global oil companies so this deal is really between the Chinese government and their NOC's verses what you're thinking.

[glitch]

32. If so, that may be the fubar but it wasn't the original intent.

the original intent was most definitely a twofer: blood for oil company profits and control of supply.
Not that I would be surprised if they messed it up, we are talking pnac.

[vaberella]

40. In the case of the US for sure. It was definitely blood for oil. I read Retort and I'm aware.

However, this is China who has entertained the game. China doesn't want to take over the Landlord, they want to play with the landlord and have their landlords play too. Their forming a new set of rules which completely undermines the US's direction and their corporate oil companies.

[vaberella]

25. Unlikely. The Chinese have American money they don't need American oil companies in

China. China operates on a totalitarian government of sorts and supports nationalism. Meaning that national oil companies have power---->China has control not the US. Check out this article written in 2005, but relevant today. Secondly as many have said Iraq was a big player in OPEC, if US takes up the country they have some say in the way OPEC moves. However they went on the stint of it being independent and it's making it's own moves. China because of it's use hording of US dollars can buy as much oil from OPEC as it wants (US dollars are needed to buy oil). With this deal it takes up a new role as a power player and this could mean refineries of it's own in the nation...which meansthey become richer.

The entire thing is massively ingenious. And this all goes to Chinese sovereignty and nothing to do with huge corporate oil firms.

http://www.globalpolitician.com/21480-oil

[WCGreen]

41. Oil companies are the ones who develope the oil fields....

[McCamy Taylor]

12. Wouldn't be surprised.

[rndmprsn]

4. K+R die for chinese oil sucker

[liberalmuse]

5. But...No Blood for Oil?

Karma is a nasty bitch, eh, Bush? You couldn't even get oil in Iraq for fuck's sake. Now they didn't even die for the oil pigs. 4,000 dead, for absofuckinglutely nothing. You piece of shit.

[Just-plain-Kathy]

17. I guess now that "China's getting Iraq's oil"...American oil companies could drive up prices here..

....leading to Americans demanding to drill here at home.

Plus now that our corporate owned and controlled media have gotten the word out that we can't produce enough oil for years to come, we could be seeing much-much higher oil prices.

(PS. I got my first oil delivery yesterday, $4.14 a gallon.)

[gemlake]

34. It turned out to be Blood for Oil . . . for China

[Bonobo]

China should pay the people of US and Iraq for that oil bought with our blood and treasure. nt

[Bozita]

10. They already paid. The stuff's on the shelves at Walmart.

[loudsue]

33. Bingo! n/t

:kick:

[MikeNearMcChord]

6. I wonder what the flag wavers are thinking now?

especially the ones who supported this war, knowing the prize was all that oil?

[WinkyDink]

43. Do they know their flags are made in China?

[spanone]

7. is this what over 4000 have died for, to revamp their oil exports?

[FrenchieCat]

8. That was always the reason we went to Iraq.....

To control China's economy via oil....since China has no oil.

[WinkyDink]

44. Except China has.....$$$$$$$$$$.

[AlCzervik]

9. well hey we went their to liberate them right? Looks like they're exercising that freedom®

it's their oil, not ours.

[redqueen]

13. Hoooo boy... that oughtta get the GOP base pissed off. (nt)

[CitizenPatriot]

14. my post on digg

Thanks, GOP-- your incompetence is amazing in its predictability. So, what's the plan now to lower the price of gas at the pump, since every thinking person knows drill here drill now is a bunch of bs? Way to go, Bush -- and now, we're preparing for 4 more years of total incompetence, brought to us by the old man who might die and leave Patriarchal Barbie in charge, with her fingers dangling over the nuclear button.

GOP -- your leadership astounds us. Try putting country ahead of winning, for once!

[CitizenPatriot]

21. SAVE ME!

and in reply to some moran who claimed palin was a "constitutionalist" ??? Please save me -- I canna no go there no more and read the morans...save me....


Are you serious? Do you know what that is? Obama is a constitutionalist. He is a constitutional lawyer and has VOTED to uphold the constitution, against the GOP at every step in the past 4 years of Fascist takeover by the GOP and their deliberate undermining of our great constitution. You really need to read up before you post things like that. I'm sure you got fed that by your Ministry of Truth, but it is both inaccurate and unfounded. She had a degree in Journalism and was a failed beauty queen and sports caster before running for mayor and then governor. She isn't in the senate -- do you understand this? A constitutionalist would uphold the constitution, no? Why, then, has she refused to be transparent and accountable in the ethics investigation on her abuse of power? Why is she refusing to turn over emails? These are the fundamentals of our constitution. Bush has absolutely abused them at every turn, so perhaps you are unfamiliar with them, but I assure you, she is no acting constitutionalist.

[Bullet1987]

15. Those fuckers could be stabbing us in the back

[vaberella]

16. Fuck the Republicans, they brought us to this.

I wonder how many more Repubs will become Dem after this hits the MSM loud.

[Bozita]

20. That's the secret. The MSM won't notice. ... At least, not so you'd know.

[vaberella]

22. Unfortunately as this is. This hit the news at just the right time.

Republicans will flood the voting booth to vote Dems in November if not on September 9th.

[Bozita]

29. That's the problem. It doesn't really hit the news. It kinda glances off.

Just how it works.

[vaberella]

30. I think it will hit the news. Send it to KO and Obama. They'll make it news. n/t

[Bozita]

48. The story has simply disappeared. Is anyone surprised?

I'm not.

[vaberella]

31. dp

[GreenPartyVoter]

18. No surprise there. China owns a big chunk of us, so we need to

help them out by feeding their growing oil addiction. *sigh*

[Muttocracy]

37. yeah, we borrowed from them to pay for the war, so perhaps

they figure they already bought it. I'll add another *sigh*

[Cha]

19. My friend who saw this on C-span today was

talking about this and saying how insane it was that our Soldiers are over there dying and getting maimed for China's OIL deals now.

[angee_is_mad]

24. kick

I'm kicking any post that doesn't have palen in the subject line.

[AuntPatsy]

26. major news

[medicswife]

28. Boy, this will make my husband happy to know that he's over there

in Iraq so the Chinese can go and drill.

[Emit]

35. How's he doing over there, medicswife?

Do you have any communication with him?

[Bozita]

36. Anybody else notice how everything Palin sucks all the oxygen from the room?

News bureaus have been trimmed back. Especially those foreign ones!

Stories from places like Iraq are out.

MILF governors are in.

All that financial shit is out.

Hurricanes are in.

Iraq? Oil? China?

Where's my remote?

*sarcasm off*

[TheModernTerrorist]

38. interesting

I'll bet this is why Shrub is considering a timetable with Iraq for withdrawal: because the US won't be getting that oil.

[vaberella]

39. I'm bumping this because people should be talking about this. n/t

[WinkyDink]

42. Bushco has interests in China. Maybe this news isn't upsetting AT ALL, to them.

http://www.businessweek.com/technology/content/dec2003/tc2003128_9007_tc058.htm

http://www.moldea.com/Bush-China-hypocrisy.html

http://www.usatoday.com/news/washington/2002/02/19/usat-prescott-bush.htm

http://www.commondreams.org/views06/1025-21.htm

http://foxforum.blogs.foxnews.com/2008/08/26/uncles-to-the-new-china-george-herbert-walker-bush-and-henry-kissinger/

[Bozita]

47. Good stuff! Thank you.

[bulloney]

45. Once again, it proves that you can drill the oil, but it doesn't guarantee the U.S. will get it.

How much blood and money did our government waste in invading Iraq?

The oil companies are multi-national my Republican friends. They can sell their product to anyone they want. Just because the company may be based in the U.S., it doesn't mean their product will be consumed in the U.S.

We're going down the same path with food and other things that are vital to our national security.

[NorthCarolina]

46. It takes China 3 years to produce the first barrel of oil?

McCain's drilling crew can probably get it producing for them by Tuesday afternoon, just like his offshore drilling proposals which, he claims, will have an immediate impact on our oil crisis.