Thanks to 3 Senators, China Entrenched in Iraqi Oil for 20 Years
BigGovernment.com ^ | May 19 2010 | Steve Schippert
This story might slip right past you. It’s understandable, considering most Americans have no idea of the context or how it happened that the state-owned China National Offshore Oil Corporation (CNOOC) is now set for 20 years in Iraq, thanks to a deal just inked between the Iraqi government and Communist China. The Iraqis originally selected America’s Exxon-Mobil. I’ll wager you probably didn’t know that. You’ll want to read on. But brace yourself.
It’s the classic American political tale of self-loathing crafted by the usual suspects. With its government firm and its security at its post-surge best, the Iraqi government needed to quickly bring its oilfields online. It desperately needed the revenues. The summer of 2008 saw oil prices above $100 per barrel and Americans were paying $4 per gallon at the pump.
The best in the business – the best in the world – is Exxon-Mobil. And the government of Iraq turned to America’s Exxon-Mobil to bring undeveloped and underdeveloped fields online to rejuvenate its own revenue sources and ween itself and its people off of American aid.
But three American Senators would have none of it. Senators John Kerry (D-MA), Chuck Schumer (D-NY) and Claire McCaskill (D-MO) sent a public letter to the Bush administration’s Secretary of State, Condoleezza Rice, imploring her to derail the Iraqi deal.
(See: ‘In China We Trust’: Senators Closed Door to US Oil Investment In Iraq.)
As the Senate troika stated, “It is our fear that this action by the Iraqi government could further deepen political tensions in Iraq and put our service members in even great danger.”