I read that the Iraq invasion caused Iraq to lose its oil contracts where American and British oil companies seized those contracts.
I also read that Iraq's government needs to vote on having foreign oil companies (particularly the US and British) drill Iraq's oil reserves and keep 75% of the profits (leaving Iraqis with only 25% of the profits). The Iraqi government is influenced by the US, so of course it will vote in the favor of US and Brits oil companies.
US and Brit oil companies claim that this is the only way to get Iraq back on track with profiting from their own oil reserves.
Isn't this a classic example of imperialism? Woe to the Iraqi people for having their most valuable resource slowly being stripped from them.
2007-01-16
02:20:54
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6 answers
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asked by
Jerry H
5
in
Politics & Government
➔ Politics