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China Signs $3 Billion Oil Deal With Iraq

by @ 12:17 pm on August 28, 2008. Filed under 2008 Election, Barack Obama, Gas Prices, Iraq, John McCain, Oil Prices, Politics

I’m guess that this isn’t exactly the kind of news that John McCain wants to have come out right before the Republican convention:

SHANGHAI, China (AP) — China and Iraq have signed a $3 billion deal revising an earlier agreement for China’s biggest oil company to help develop the Ahdab oil field, an official at the Iraq’s Oil Ministry said Thursday.

The deal, restoring a project canceled after the 2003 U.S.-led invasion of Iraq, was signed late Wednesday by Chinese officials and Iraqi Oil Minister Hussain al-Shahristani.

”The initial agreement has been signed, and we are waiting to see the approval of both governments,” said Sarhad Fatah, a spokesman at the Iraqi Embassy in Beijing.

Fatah would not disclose the value of the deal, but an official at the Oil Ministry in Baghdad confirmed it would be worth $3 billion. He requested anonomity because the agreement hasn’t been approved by the cabinet yet.

I can almost hear the words coming out of Obama’s and Biden’s mouths; 4,000 Americans died so that the Chinese could have access to Iraqi oil.

True or not, it’s the kind of talking point that will resonate with a public already fed up with the war and the price of gas.

10 Responses to “China Signs $3 Billion Oil Deal With Iraq”

  1. It sounds to me like the Chinese already had the deal, so the invasion only delayed the inevitable Chinese-Iraqi relationship.

    I imagine the Iraqis could see it another way: “Hundreds of thousands of Iraqis died for no good reason at all.”

  2. JVermont says:

    Oh, come now, Ben (if I may call you that) – surely you know there were excellent reasons all those useless Iraqi citizens needed to die. To begin with, they were simply in the way of American interests in the region. They were not contributing to the increased profits of Haliburton, Exxon, GE, etc. It’s ashame they perished in the last throws, if you will, of the insurgency where a bunch of dead-enders didn’t realize that freedom was on the march and that, in fact, we found WMDs and we have been greeted as liberators. In fact the entire affair has been paid for by the profits of Iraqi oil, so America is none the worse for wear. Our economy is booming and jobs are plentiful and secure. The dollar is strong and so is our military. George W. Bush has done a fine job in maintaining the United States integrity in the world as well. Let’s hope his successor, whoever that may be, doesn’t screw that up!

    (sorry I just can’t stand the bullshit anymore… maybe we deserve to be where we are as a country: fucked and far from home. I feel ill.)

  3. Stu says:

    We need to open up offshore drilling so the Chinese can have access to American oil. Then no more US troops need die for Exxon.
    I’m John McSame and I approve this message.

  4. Stu says:

    Im sure Exxon would have used the Red Chinese Army to invade Iraq if China had a congress they could lobby.

  5. Alex says:

    Damned if they do, damned if they don’t. If ExxonMobil had the contract instead, you’d be screaming that it was for the pockets of the oil majors. As the Bush Administration has said from day one, they’re doing this in the interest of the world entire, to ensure that oil from the whole middle eastern region (4 out of 5 of the world’s largest reserve holding nations share the Iraqi border) keeps flowing, not just for America, but for everyone.

  6. Stu says:

    The interest on the money Bush borrowed from China to finance the war will probably pay for the oil China buys.
    But if it makes you feel better, China will probably NEVER get the principle back.

  7. Stu says:

    @Alex. Sorry, I guess I missed the part of the article about Iraq cancelling their contract with Exxon.

  8. happygolucky says:

    Maybe we should just admit that the world is divided into greedy, selfish people and those who believe in equality and have an honest moral compass. One day we will all have to deal with who is who.

  9. fsc says:

    It’s geopolitics, there’s no “good guys” no matter how loud whoever yells FREEDOM DEMOCRACY.

  10. xavo says:

    the deal was already in place pre-2003, from the chinese perspective, the war delayed their oil for 5 years.

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