World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Report outlines plans: corporate plunder of Iraq

Report outlines plans for corporate plunder of Iraqi oil

By James Cogan - World Socialist Web Site

A report published in November by the London-based environmental and social justice network Platform makes clear that the invasion and occupation of Iraq was, and remains, a war for oil. The document, entitled “Crude Designs: the rip-off of Iraq’s oil wealth”, is a concise review of how Iraq’s vast energy resources, worth hundreds of billions of dollars, will be handed to transnational companies over the next several years.

“Crude Designs” found that if just 12 of Iraq’s undeveloped fields are contracted in a similar fashion to comparable oil fields in Libya, Oman and Russia, transnationals will reap profits of between $74 billion and $194 billion in 2006 dollars over a 30-year period. The estimate, which the report describes as “conservative”, is based on an oil price of $40 per barrel. The current price is closer to $60 per barrel.

The actual bonanza for the oil giants from the invasion of Iraq could run into the trillions. Out of the country’s 80 known fields, just 17 are currently in production. A further 63 undeveloped fields have an estimated 75 billion barrels of oil, while industry experts believe between 100 billion and 200 billion barrels lie in unexplored fields. The country also has enormous untapped reserves of natural gas.

The Platform report establishes that control over these resources was the primary motive for the war. The first chapter draws attention to the discussion in US and British ruling circles on the strategic importance of dominating the oil and gas of the Persian Gulf. It cites the May 2001 report of the Bush administration’s Energy Task Force, which was headed by Vice President Dick Cheney. The findings declared: “The Gulf will be the primary focus of US international energy policy.”

The terror attacks on New York and Washington on September 11, 2001, just four months later, were used to set in motion long-held plans for the military conquest of the region.

Read full article…

© Scoop Media

 
 
 
 
 
World Headlines

 

Malawi In Urgent Need After Intense Flooding

Torrential rains in Malawi have caused dozens of deaths, with hundreds of people still missing. Photo: UNDP/Arjan van de Merwe More>>

Lack Of Funding Hampering Aid To Syria

Deputy Emergency Relief Coordinator Kyung-wha Kang briefs the Security Council on the situation in Syria. UN Photo/Eskinder Debebe More>>

Spy Agency CSE Is Monitoring Our Private Online Activities

Breaking - Spy agency CSE is monitoring our private online activities on a massive scale and sharing sensitive data with other governments More>>

UN ‘blue Helmet’ Killed Near Lebanon-Israel Cross-Fire

28 January 2015 – A United Nations peacekeeper with the UN Interim Force in Lebanon ( UNIFIL ) was killed today near the border with Israel but the precise cause of death is as yet undetermined and remains the subject of investigation, according ... More>>

ALSO:


Lack Of Funds Forces UN Agency To Halt Gaza Rebuild

Lack of funds forces UN agency to halt Gaza programme for repairs to destroyed homes More>>

ALSO:

Freeport Wins 6-Month Export Extension

An aerial view shows the site of the Grasberg Mine, operated by US.-based Freeport-McMoRan, in Papua in this Nov. 4, 2010 file photo. (Reuters Photo/Muhammad Yamin) More>>

ALSO:

Former Malaysian Prime Minister Speaks Out Against Sarawak

After receiving a letter from the network of communities affected by the dams, Malaysia’s former Prime Minister Mahathir Mohamad criticises the Sarawak government’s multi-dam initiative More>>

Egypt: UN Rights Chief Urges End To Excessive Use Of Force

As police, protesters clash in Egypt, UN rights chief urges end to excessive use of force More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news