why the us & uk are going in so hard in libya, page-35

NO U.S. OIL BONANZA

The results run counter to predictions of some critics of the U.S.' 2003 Iraqi invasion, who envisaged domination of Iraqi oil by U.S. oil majors.

"We haven't really seen U.S. companies, and that is because of intense competition ... The issue is financial and technical and not at all political. This confirms Iraq can manage its oil policy and activities without politicization," said Thamir Ghadhban, a prime ministerial advisor and former oil minister.

The terms of Iraq's 20-year oilfield service contracts were seen by analysts as tight, and the legal ambiguity and security issues involved in a country still plagued by bombs and near constant political crisis may be a deterrent for some.



War for Iraq oil. Pfffft! Iraq war was always about revenge and neo-con dreams of installing democratic governments in the mid-East.