Fear not, no one is getting at that oil any time soon--In response to all the negative media, the development of Iraq's' oil fields is going up to bid now--sad, as this was the QUICKEST way to get a few million more barrels a day on the market (upgrading Iraq's dilapidated oil industry) and thereby drop the price---now the bid process will drag it out into next spring. Loser for all concerned
Consider the peregrinations of the Democrats on the question of Iraq and oil. At first, many of them charged that Iraq was a “war for oil.” Then, they complained that then-Deputy Secretary of Defense Paul Wolfowitz had been wrong in his pre-war reassurance that Iraq could pay for much of its own reconstruction — i.e., it wasn’t enough of a war for oil. By this past April, when Gen. David Petraeus testified before Congress, they were practically banging the table demanding that Iraq pay for more of the war with its own oil revenues. Now, with Iraq moving to earn more of such revenues slated for reconstruction, Schumer — together with Sens. John Kerry and Claire McCaskill — is urging Secretary of State Condoleezza Rice to step in and quash the deal.
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