The Treasure, the Strongbox, and the Crowbar (pt.1)
An outstanding interview with Middle East expert Juan Cole on how the Bush Administration manufactured reasons for the Iraqi war in order to crack the locked oil market. (from MotherJones, reprinted from the TomDispatch blog, where you can now read part 2 of the interview.)
JC: My guess with regard to Cheney is that his experience in the energy sector and with Halliburton as CEO must have been influential in his thinking. For the corporate energy sector in the United States, Iraq must have been maddening. It was under those United Nations sanctions. It's a country that, with significant investment, might be able to rival Saudi Arabia as a producer of petroleum. Saudi Arabia can produce around 11 million barrels a day, if it really tries. Iraq before the war was producing almost 3 million barrels a day and, if its fields were explored and opened and exploited, it might be up to the Saudi level in twenty years. This could bring a lot of petroleum on the market. There would be opportunities for making money from refining. There might even be an opportunity, if you had a free-market regime in Iraq, for Western petroleum companies to go back to owning oil fields -- something they haven't been able to do since the 1970s in the Middle East when most of these fields were nationalized. All that potential in Iraq was locked up.
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