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Western Oil Companies Back in Iraq With Unusual Contracts
Thirty-six years after Saddam Hussein nationalized oil and kicked out Western companies, Iraq's Oil Ministry has awarded Exxon Mobil, Shell, Total, and BP contracts set to bring the oil giants back.
Despite the fact that high oil prices put these contracts in high demand, Iraq granted very unusual no-bid contracts, meaning the companies did not have to compete with their counterparts in China, Russia, and India. Today's New York Times explains:
There was suspicion among many in the Arab world and among parts of the American public that the United States had gone to war in Iraq precisely to secure the oil wealth these contracts seek to extract.
Other Search Results
Front Page: US Economy Shrinks Like It's 1982
- The US economy shrank 3.8 percent last quarter, the most it has shrunk since 1982. — Bloomberg
- President Obama will be rooting for the Pittsburgh Steelers to win the Super Bowl this Sunday. — CNN
- Exxon Mobil's profits dropped 33 percent last quarter, thanks to lower demand for gas and cheaper oil prices.
Feeling Gassy? The Government Is Too.
It's no secret that gas is completely expensive. This week the news about it has been a gusher. Big Oil execs were called in front of Congress to explain the hit we're all taking at the pump.
Link Time
- Bush's Wikipedia entry a love letter from Karl Rove? — Beggars Can Be Choosers
- Smug alert: leather-free SUV Hybrid spotted in San Francisco — SFist
- Leo DiCaprio, Stevie Wonder, sexy-time mayors, etc, at last night's debate — Politico
- Mentally retarded female bombers cause deadliest day since surge in Iraq — Huffington Post
- Ann Coulter says if McCain wins, she will campaign for Hillary — Red State
- Exxon-Mobil reports record profits, adding insult to injury — Daily Kos
- Microsoft + Yahoo = bringing Google to its knees? — Pandagon
- What the National Journal "liberal" ranking really means — Swampland
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