My unpopular opinion about the Iraq War and some facts of about the post-Saddam Iraq oil industry

The day Saddam died was a great day. I initially opposed the 2003 attack on Iraq because I feared the US would indiscriminately bomb Iraqi civilians, but once Saddam was caught I was so glad that he was convicted and sentenced for his horrific abuse of the people of Iraq. He deserved everything he got and more. All I wanted from then on was to see my government do the right thing by the people of Iraq and help them achieve the security apparatus and secular liberal government that would be necessary to avoid future carnage and oppression. Of course this did not happen. Instead of a secular constitution, Iraq has an Islamic constitution. Without the imposition of separation of Mosque and state and the imposition of a secular liberal bill of rights for Iraq, elections mean nothing but another tool for tyrants and bigots to use to further sectarianism, theocracy, oppression of women, abuse and killing of LGBTQ people, oppression of religious minorities and atheists, violence and terrorism, the breakdown of the sciences and education and all other elements of progress necessary to develop a free, prosperous, safe and secure post-Saddam Iraq.

Maybe oil was what Cheney was interested in but the US does not control Iraqi oil. Iraq does and Iraq decides who to do business with in terms of foreign oil companies.

Field / Block Company Home country Company type Share in field Plateau production target (bpd) Service fee per bbl ($) Gross revenue at plateau ($/yr)
Majnoon Shell Netherlands Public 45% 1,800,000 1.39 410,953,500
Majnoon Petronas Malaysia State 30% 1,800,000 1.39 273,969,000
Halfaya CNPC China State 37.5% 535,000 1.4 102,519,375
Halfaya Petronas Malaysia State 18.75% 535,000 1.4 51,259,688
Halfaya Total France Public 18.75% 535,000 1.4 51,259,688
Rumaila BP UK Public 37.5% 2,850,000 2 780,187,500
Rumaila CNPC China State 37.5% 2,850,000 2 780,187,500
Zubair ENI Italy Public 37.81% 1,200,000 2 287,415,600
Zubair Occidental US Public 23.44% 1,200,000 2 205,334,400
Zubair KOGAS Korea State 18.75% 1,200,000 2 164,250,000
West Qurna Field Phase 2 Lukoil Russia Public 75% 1,800,000 1.15 566,662,500
Badra Gazprom Russia State 30% 170,000 5.5 102,382,500
Badra Petronas Malaysia State 15% 170,000 5.5 51,191,250
Badra KOGAS Korea State 22.5% 170,000 5.5 76,786,875
Badra TPAO Turkey State 7.5% 170,000 5.5 25,595,625
West Qurna Field Phase 1 Exxon US Public 60% 2,325,000 1.9 967,432,500
West Qurna Field Phase 1 Shell Netherlands Public 15% 2,325,000 1.9 241,858,125
Qayara Sonangol Angola State 75% 120,000 5 164,250,000
Najmah Sonangol Angola State 75% 110,000 6 180,675,000
Garraf Petronas Malaysia State 40% 230,000 1.49 56,288,475
Garraf JAPEX Japan Public 30% 230,000 1.49 37,525,650
Missan Group CNOOC China State 63.75% 450,000 2.30 240,831,562.5
Missan Group TPAO Turkey State 11.25% 450,000 2.30 42,499,687.5

If the US went into Iraq to steal the oil, the US failed at that just as much, if not more, than creating democracy. Exxon is doing alright with their 60% share in one of the biggest fields, but otherwise it’s mostly Iraq and other countries making all of the money. If the US was only interested in making money off oil we would have done better to do business with Iraq and let him take Kuwait. The sanctions the US placed on Iraq kept most Iraqi oil off world markets for more than a decade, which was not good for oil profiteers or the USA or the world’s economy. It was done for other reasons. Saddam did stop pricing Iraqi oil in dollars which was not something the US oil industry liked of course. Other countries have taken similar moves. The US dollar is not worth as much as it appears. The dollar’s value is artificially inflated by it being the most commonly used reserve currency in the world and the currency in which most petroleum transactions are prices are denominated.

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