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Iraq: To The Victor Goes The Spoils


Recently Mr. Trump made a speech that was labeled as a foreign policy speech….as usual it was slap full of platitudes and one liners made for applause…..slogans for the nose picking ass scratchers…..

The one thought that I most liked (sarcasm) was the one about the invasion of Iraq and the oil…..

“We should have kept the oil,” Trump said during the middle of a 48-minute speech on radical Islam and national security that he delivered Monday afternoon in Youngstown, Ohio.

This might seem like a minor aside coming from Trump, a provocative little I-told-you-so from a man who loves to tell you so. The fateful Iraq decision happened so long ago now: Why would the Republican nominee want to muddle a key distinction between himself and Hillary Clinton that, at least according to his revisionist history, works in his favor? But Trump’s point about the oil was an important one—so much so that he repeated it three more times. “I was saying this constantly and consistently to whoever would listen. I said: Keep the oil, keep the oil, keep the oil,” Trump recalled. “Don’t let someone else get it.”

I find it interesting that I probably watch his speeches more than the bloggers that claim they support him for president….instead these ass scratchers take their news and opinion from the nose picking Right….

With that said let me touch on the whole “we should have kept the oil“…….

Back in 2007 when Iraq was working on their new Iraqi Oil Law I wrote a couple of op-eds about the thing…..

Source: Who Gets Iraq’s Oil? – In Saner Thought

And

Source: Another Look At Iraq’s Oil Law – In Saner Thought

Since the US does not have nationalized oil industry we did the next best thing….we wrote an oil law that benefited the oil industry and NOT the people of Iraq…..

So Mr. Trump, in essence we did keep the oil from Iraq for ourselves……

Do I need to explain what a “production sharing agreement” to Mr. Trump?

I just did but NO one was reading…..

Applause lines are great but have NOTHING, I repeat NOTHING to do with reality or for that matter nothing to do with this election.

But that is what I have come to expect from the toads we run for president….all talk…NO knowledge!

Trump continued…….

Had the U.S. controlled Iraqi petroleum reserves, Trump argued, the Islamic State would not have been able to seize them years later and sell them to fund its terror operations and expansion in the region. Moreover, he said, the U.S. could have used the proceeds from selling oil to care for wounded troops; if the military had been managing the oil fields it seized in Iraq, it could have prevented the destabilization of the region and the rise of ISIS that followed the troop withdrawal on President Obama’s watch, he went on.“In the old days, when we won a war, to the victor belonged the spoils,” Trump said. “Instead, all we got from Iraq—and our adventures in the Middle East—was death, destruction and tremendous financial loss.”

I disagree….we did control the fields….but I will agree with the “death and destruction” part of his statement.

That is now fundamentally the “American Way“……

As I was writing this post a news item about the subject came to my attention…..

Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation’s new oil minister said, standing by a demand made by his predecessor.

Oil Minister Jabar Ali Al-Luaibi conveyed his position at a meeting on Monday in Baghdad with BP’s head in Iraq, Michael Townshend, the ministry said in a statement.

The minister also discussed increasing oil and gas output from BP’s giant Rumaila field in southern Iraq.

Iraq was in talks with foreign oil companies to link the fees they charge for developing their fields to oil prices and have them share the burden when markets go down, former oil minister Adel Abdul Mahdi told Reuters in January.

Iraq generates 95 percent of its public budget from oil sales. It has service agreements with companies including CNPC, BP, Shell, Eni, Exxon Mobil and Lukoil, which get paid for the extra barrels produced at fields awarded to them through a bidding process.

Current service agreements with oil companies are straining Iraq’s budget as the government pays them a fixed fee for increasing production at ageing fields. Its own revenue dropped as oil prices have more than halved compared to 2014.

(Reuters)

This has all the makings of a new problem for the companies doing business in Iraq…..could this be a new front in the war?

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One comment on “Iraq: To The Victor Goes The Spoils

  1. Pingback: Iraq: To The Victor Goes The Spoils – In Saner Thought

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This entry was posted on August 25, 2016 by in Ace News Room.

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