Iraqi Government Fuels 'War for Oil' Theories by Putting Reserves up for Biggest Ever Sale

The biggest ever sale of oil assets will take place today, when the Iraqi government puts 40bn barrels of recoverable reserves up for offer in London.

BP, Shell and ExxonMobil are all expected to attend a meeting at the Park Lane Hotel in Mayfair with the Iraqi oil minister, Hussein al-Shahristani.

Access is being given to eight fields, representing about 40% of the Middle Eastern nation's reserves, at a time when the country remains under occupation by US and British forces.

Two smaller agreements have already been signed with Shell and the China National Petroleum Corporation, but today's sale will ignite arguments over whether the overthrow of Saddam Hussein was a "war for oil" that is now to be consummated by western multinationals seizing control of strategic Iraqi reserves

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He said that if the conspiracy theory that western oil companies egged on US and British governments to invade Iraq were true, the plan could backfire on them and benefit rivals in Asia instead. "It is possible the American army has provided the economic stability that will encourage Malaysian, Chinese and other Asian companies to become involved," he said.

There is no precedent for proven oil reserves of this magnitude being offered up for sale, said Muttitt. "The nearest thing would be the post-Soviet sale of the Kashagan field [in the Caspian Sea], which had 7bn or 8bn barrels."

http://www.guardian.co.uk/business/2008/oct/13/oil-iraq


I can't fathom how major North American news outlets could ignore this story. It is most consequential for us and the people of Iraq, and yet the overwhelming majority of Americans are completely oblivious that these events are transpiring. We are sending young people to kill and die abroad for reasons that they nor we completely understand, while the truth is there in the open for everyone in the world to see except for us. If the public was aware of the truth that is staring them in the face they wouldnt stand for it a minute longer, so please if you care spread the word!