Remember back in the heyday of the antiwar protests after our decision to invade Iraq? One of the biggest talking points from the loony left was that this was all about oil. They constantly chanted "No more war of oil" while parading around in their god awful ugly uniforms or, in the case of Code Pink when they were smearing fake blood on then-Secretary of State Condoleezza Rice.
Well if this whole thing was about oil, the US certainly got screwed in the bidding for the rights to Iraqi oil fields that was held recently.
A consortium led by Russia's private oil giant won the biggest prize of Iraq's second oil auction this year, nabbing a field initially promised them a decade ago by Saddam Hussein while other companies Saturday showed little interest in offerings outside the secure southern part of the country.
Lukoil and Norway's Statoil ASA won rights to develop the 12.88 billion barrel West Qurna Phase 2 field in the Basra region, beating out three other consortiums led by France's Total SA, Malaysia's state-run Petronas and British giant BP PLC.
In the opening round of the two-day auction Friday, an alliance grouping European giant Shell and Petronas was awarded the 12.5 billion barrel Majnoon field, also in the south.In fact in this latest round of contracts that was awarded not a single American company was awarded a contract.
I think that is more the result of our domestic policy here at home then it is our oil companies not wanting to get in on the process. They could have still tried to get some since there is no doubt there will continue to be a world wide demand for oil products, regardless of much our current progressive inhabitants of congress and the White House wish to continue to push their cave man energy policy.