Iraqi Oil Question

Factual Questions
1

Let’s try to keep this out of GD territory…

You hear some people talk about the fact that the US was promised cheap oil after the ouster of Saddam. I don’t know who could have ever made that promise, but is the West in fact buying oil from Iraq these days and do we get the “we saved your country from a madman” discount?

I assume that any oil that Iraq has is being sold to anyone on the open market just like Saudi or Venezuelan oil. Can someone please confirm that?

2

Yes the West is buying Iraqi oil, the oil sector is booming in fact.

3

Here is a report from a couple months ago about the booming Iraqi oil industry.

The biggest beneficiary of their oil boom is China.

The US did not get any oil or special considerations for oil due to the Iraq War.

4

Thanks!

5

This is a report on the way that the Iraqi oil sector is selling oil, http://eiti.org/files/IEITI-2010-Report.pdf

6

I believe the OP is referring to the Bush administration stating that Iraqi oil will pay for the reconstruction.

7

Yeah that didn’t work out too well.

8

LOL