Iraq to sign $3B oil contract w/ Chinese

Iraq to sign $3B contract w/ Chinese

www.cnn.com

BAGHDAD, Iraq (CNN) -- Iraq has signed its first major oil deal with a foreign company since the fall of Saddam Hussein's regime, a spokesman for the Iraqi Oil Ministry said Saturday. It was the first time in more than 35 years that Iraq has allowed foreign oil companies to do business inside its borders...

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[edit on 8/30/08 by Marked One]

I'm not exactly an expert in International Relations. But I thought we were on bad terms with the Chinese. Aren't they plotting a way to try and steal America's gold by cashing in a stockpile of brand new American currency or something?

www.cnn.com
(visit the link for the full news article)

reply to post by Marked One


Erm, no.
Iraq is an independent sovereign country and not a US colony. President Bush is not their head of state and has no legislative power in Iraq either.

Right. Ok. Thank you for the correction. That makes clean sense there. Like I said--I'm no expert. I just kinda-sorta figured since Iraq was in bed with US they would not be inclined to make deals with people like the Chinese. But if that's what they want? Ok with me.

Now call me silly but. Something about the name "Assim Jihad" looks kinda--I don't know--ironic because the word "Jihad" is in it? I'm sure I'm not the only one noticing this.

Now I DON'T know why but when I saw this I could not stop thinking of the phrase "Assimilate Jihad".

[edit on 8/30/08 by Marked One]

[edit on 8/30/08 by Marked One]

reply to post by Marked One

Considering the US gave China "most favored nation" status. this is not out of line. And as was said above they are not a US colony

Well I had a college professor say that the Chinese are plotting some kind of "scam"(?) to get their hands on American gold and thus further the collapse of America's economy by simply taking a massive stockpile of old bills in mint condition and exchanging them for gold. Has anybody ever heard of this?

Iraq is going to lose on that deal...

lets say China puts up the $3 billion now for future oil delivery,

the US dollars the Chinese are unloading on the unsuspecting Iraqi
Will in the course of the remainder of 2008-2009 depreciate in relative value...making the contracted oil very inexpensive.
Iraq may well find that the 300-500 million bbls contracted for will be being pumped/sold for $10 bbl in actual value.



also, the spot oil has recently dropped +22% from the nearly $150bbl
to the $110s


all-in-all, a several billion $ contract for delivery has way too much 'risk' involved.... a series of $100-200 million contracts would be a more reasonable limit in my eyes.


~i guess thats why i'm not employed though~

Whats sad is the OP in this thread - `stealing american gold` , its sad to see most americans believe iraq`s oil should be gifted to them - for invading and destroying there country , which they didn`t actually want.

Hmm considering that it was the US who has payed for Iraq and took out Saddam shouldnt it be American companies reaping the benefits? What am I missing here?

reply to post by mybigunit


why? the USA illegally invaded and destroyed another country - and killed or displaced over 1 million people


why should they anything at all.ever.

First of all this is good news for everybody. The sooner they get their economy going the sooner we're out of there. Second, please keep in mind that in the context of oil export agreements, this deal is tiny. It is more symbolic than anything else.

Originally posted by mybigunit
Hmm considering that it was the US who has payed for Iraq and took out Saddam shouldnt it be American companies reaping the benefits? What am I missing here?

What a crock of s--t

So if America decided to "liberate" us Canadians for our unamerican ways, America would be entitled to our vast resources because you "saved" us from ourselves?

Say Russia decided to remove your insane government. Would they be entitled to America's resources?

What am I missing here?

Common sense?

reply to post by ben420


For all that perception that we conquered Iraq or made it 51st state or American colony, we seem to do a bad job acting like true conquerors. I feel like we invaded Iraq for China.

Originally posted by ben420


What a crock of s--t

So if America decided to "liberate" us Canadians for our unamerican ways, America would be entitled to our vast resources because you "saved" us from ourselves?

Say Russia decided to remove your insane government. Would they be entitled to America's resources?

Ill answer you and Harlequins post here. Yes that is how the "liberation" business goes. BTW I am fully against the Iraqi war see my avatar? It was a huge waste of American money we dont have and it really is against what we should be as a country. The fact is we did it and spent billions to do it. So with the cost comes the spoils of war. Once again Im not for this war or the future war with Iran or Venuzuela. But the fact is the Iraqi war happened and as long as the Iraqi government is making billions because of high oil then some of those petrol dollars needs to come back to our coffers. Just a price of doing business.

What am I missing here?

Common sense?


Hmm Common sense? You must not have much common sense to look at my avatar and see Im anti bush. You must not have have the common sense to realize that there have been spoils to every war in history. Someone has to pay and be paid for war. Thats just how it is. Even though the war is unjust Iraq will be better without saddam we should be paid.

Originally posted by Harlequin
Whats sad is the OP in this thread - `stealing american gold` , its sad to see most americans believe iraq`s oil should be gifted to them - for invading and destroying there country , which they didn`t actually want.

Yes. I did say the words "stealing American gold". I was wrong. The Chinese are going to obtain the gold legally. Through the appropriate channels, using American bills that are in mint condition that have been stockpiled.

Originally posted by ben420
Say Russia decided to remove your insane government. Would they be entitled to America's resources?

They should try it. I'll be looking forward to it.

Originally posted by deltaboy
reply to post by ben420

 

For all that perception that we conquered Iraq or made it 51st state or American colony, we seem to do a bad job acting like true conquerors. I feel like we invaded Iraq for China.

And I here I thought China was just getting rich off of me. They're evil--sure. But they make some good General Tso's Chicken.