Friday, January 03, 2003

Worldwide Oil Situation and Iraq
"In preface to the passage of Security Council Resolution 1441 on November 8, there were thinly veiled threats that French, Russian, and Chinese firms would be excluded from any future oil concessions in Iraq unless Paris, Moscow, and Beijing supported the Bush policy of regime change. Ahmed Chalabi, leader of the Iraqi National Congress (INC), an exile opposition group favored by the Bush administration, said that the INC would not feel bound by any contracts signed by Saddam Hussein’s government and that “American companies will have a big shot at Iraqi oil” under a new regime. U.S. and British oil company executives have been meeting with INC officials, maneuvering to secure a future stake in Iraq’s oil. Meanwhile, the State Department has been coaxing Iraqi opposition members to create an oil and gas working group involving Iraqis and Americans."

This informative and well-researched article includes a table showing the world's biggest oil companies and the reserves in billions of barrels that they control.

No comments: