Originally posted by: conjur
Originally posted by: EagleKeeper
And where do you expect them to get the capitial to improve their oil facilities.
Iraq needs capital investments to develop its petroleum industry, he said, adding that the government had estimated that some 25 billion dollars in investments were required to boost oil production to 5-6 million barrels a day.
Most poorer countries in the world expect foriegn investment to help jumpstart them.
Even the G8 countries have foriegn capital helping out some of their industries.
Based on your explanation, the US inducstries must also being raped, because we have foriegn investors.
Iraq wasn't one of the poorer countries before the US invaded it. They were capable of producing and distributing oil before. What's changed? Hmmm....gee....I wonder.
It is the Iraqi insurgents and/or their fellow imported terrorists that have intenially destroyed the Iraqi infrastructure (oil/power and others).
When Saddam was in power, he was diverting the oil revenues from the Iraqi people into his own pockets and his supporters (as many here accuse Bush of doing). Saddam started doing that in '91
Iraq needs to recover and move forward, they are trying to, others are determined to stop them.
It is not just US companies that are looking to assist; there is more than enough work for many multi-national companies.
US & allies' companies were initially include in the original reconstruction efforts after the conflict ended. Those contracts were controlled by the US.
These contracts are being put out in the open for specific purposes and the article does not indicate that there is favoritism for one company/country over another.
How would this be considered rape of their resources? Without oil they have nothing, the oil needs to be pumped out and sold. Right now, their structure can not handle the demand that is being required.
They must either reduce the demand (and stay in the dark ages) or generate the revenue to support the demands needed by the country of Iraq