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These are the ‘best of times’ for the oil giants in Iraq. Production is up, profits are soaring, and big oil is rolling in dough. Here’s the story from the Wall Street Journal:

“Iraq’s oil production surged to its highest level in over 30 years last month, surprising skeptics of the country’s efforts to restore its oil industry after decades of war and neglect.” (Wall Street Journal)

Mission accomplished?

You bet. But for those who still cling to the idea that the US was serious about promoting democracy or removing a vicious dictator or eliminating WMD or any of the other kooky excuses, consider what we’ve learned in the last couple weeks. Here’s the story from Aljazeera:

“While the US military has formally ended its occupation of Iraq, some of the largest western oil companies, ExxonMobil, BP and Shell, remain.

On November 27, 38 months after Royal Dutch Shell announced its pursuit of a massive gas deal in southern Iraq, the oil giant had its contract signed for a $17bn flared gas deal. Three days later, the US-based energy firm Emerson submitted a bid for a contract to operate at Iraq’s giant Zubair oil field, which reportedly holds some eight million barrels of oil.

Earlier this year, Emerson was awarded a contract to provide crude oil metering systems and other technology for a new oil terminal in Basra, currently under construction in the Persian Gulf, and the company is installing control systems in the power stations in Hilla and Kerbala. Iraq’s supergiant Rumaila oil field is already being developed by BP, and the other supergiant reserve, Majnoon oil field, is being developed by Royal Dutch Shell. Both fields are in southern Iraq.” (“Western oil firms remain as US exits Iraq”, Dahr Jamail, Aljazeera.)

http://www.informationclearinghouse.info/article38590.htm