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Cheney
Before the invasion, Iraq’s oil industry was sputtering, largely walled off from world markets by international sanctions against the government of Saddam Hussein, so his overthrow always carried the promise of renewed access to the country’s immense reserves. Chinese state-owned companies seized the opportunity, pouring more than $2 billion a year and hundreds of workers into Iraq, and just as important, showing a willingness to play by the new Iraqi government’s rules and to accept lower profits to win contracts.
“We lost out,” said Michael Makovsky, a former Defense Department official in the Bush administration who worked on Iraq oil policy. “The Chinese had nothing to do with the war, but from an economic standpoint they are benefiting from it, and our Fifth Fleet and air forces are helping to assure their supply.”
http://www.nytimes.com/2013/06/03/wo...l-boom.html?hp
s are being Jews on US. US lost an astronomical figure of $ as well as thousands of lives to liberate and open up that country, and the s sneaked in and stole the whole feast.
And you liberals thought we were in it for the oil.
If we were, we would have it!
I see you don't have a hint of racism in you...
what u think they are doing in africa and australia
fkn buying up supply chains from oil energy, to food land and ...
Bush got the majority of avenues from weapon contractors during both elections. dude was the representative of weapon makers in the House and he made every decision for the interest of those who funded his presidential campaign, at the expense of the country's
and you know how much of a conservative i am
did the war in Iraq make US safer? negative. did the US get anything from the war? negative again. cowboy lanuched the wars to divert out attention away from those domestic issues, and more importantly, the war brought those weapon makers lucrative contracts.
if you only went there to destroy WMD (Weapons of Mass Destruction) that the Iraqi government allegedly possessed, you could've just sent a squadron of jets or drones there to get the job done. but Bush's financial contributors don't make jets or drones, they make tanks and cannons that only the army uses, so they tried and managed to deceive the congress/house into buying their bull that we had to remove saddam from power, and the land troops were necessary to achieve that goal.
Intelligent people KNOW cheney/rummy/PNAC/neocons went into Iraq for oil, but they blew it. Americans' pain, China's gain.
In early 2003, dubya's inevitable urgency of invading Iraq for oil was caused by Iraq negotiating huge oil contracts with China, Russia, France, excluding specifically former imperial occupier UK and imminent imperial invade/occupier USA.
Excuses excuses.
You just can't admit you and other lib s were wrong about us being in it for oil.
Well wtf did we go there for then?..it certainly wasn't for WMD's..I guess W just wanted to get revenge for his Dad
Iraq invasion was for oil exclusively, behind all the "bad man", WMD pretexts, but US/UK got snookered by France, Russia,China slipping in a getting lots of oil. dubya and his gang committed the largest geopolitical up, and then botched their ed, in many decades.
I don't even think it was all about oil but this is still a really stupid argument.
IT WAS ALL ABOUT OIL
You are assuming the Chinese investment is profitable.
Evidence?
It's Chinese investment is state-owned... doesn't have to be profitable at all... that's one of the advantages mentioned on the article (that the Chinese will take slim profit-margin deals because they don't have to answer to shareholders and are only interested in the energy)...
Obama, Cheney, and Bush love nation building because they get a cut of the profits. Plain and simple.
If it is unprofitable, that is fine. If the Chinese goverment wants to subsidize everybody else on the planet, which they would be doing, essentially, by a very unprofitable investment in oil production there, let them.
(facepalm)
Okaaaaay.
What is the answer? Embargos? Incentives? Pay-offs? China's markets aren't getting better, so they'll keep buying our bonds which will keep Obama from cutting spending. So everyone wins in Socialists world, right?
What do you mean? They win out the contracts to exploit the oil rigs and fetch the oil for themselves... they can simply do it without having to show any profits for it, since they're interested in getting the energy, not making a buck out of it.
Companies like Exxon, etc can't compete, since they respond to shareholders and they need to make a buck on it.
It's a biggie, because if they keep driving down the profit margin on those contracts, private companies like Exxon, etc will have to make up for it somewhere else, which normally is consumers.
IMO, the answer is to keep improving in tech. Keep improving the oil shale extraction process, reducing it's cost, and also continue investing in deep oil extraction. The Chinese are far behind in those areas. They'll get oil from a regular rig, but if it goes too deep, they don't have the capability to extract (yet). With oil shale, it might not matter at all if they catch up.
You seem to be forgetting that oil is fungible.
Even if 100% of all the oil in Iraq gets poured for free into tanks in China, we still benefit.
Every barrel they get out of this arrangement is one barrel that they aren't bidding against us for.
Lower demand = lower price point
If they want to lose money on this because they think it benefits them somehow, they are subsidizing us.
QED
Meh, we can't produce our way out of oil dependence. The only way to reduce our dependency on the inherent volatility of global oil markets is to simply use less oil. We now have the luxury of letting the Chinese, who use more of it, spend their money subsidising world security.
but they'll probably hack the technology.
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