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Author: FreethinkerKW Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 28238  
Subject: Iraq: Only One American Oil Company Pumping Date: 10/12/2012 8:24 AM
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Just an amplification of the link Casey supplied us a moment ago talking about the ramp up in Iraqi oil production. Business Insider caught I saw: only one American multi-national, Exxon, is represented in all the oil companies pumping Iraqi oil:


In 2009, Time's Vivienne Walt wrote about the beginnings of the lockout. She talked to one anonymous Iraqi official who explained what had happened:

The bidding was extremely tough. My guess is that [the U.S. companies] could not match the offers from others." In Iraq, at least, the victor has no special claim on the spoils of war.
For what it's worth, ExxonMobil scored the second-largest field in the country.

And American companies are doing much of the actual drilling.
But that pales in comparison to royalty amounts development companies will get.

Read more: http://www.businessinsider.com/american-firms-shut-out-iraq-...
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