As the costs of the Iraq occupation spiral, British and American oil companies meet in secret next week to carve up the country's oil reserves for themselves. Tom Burgis reports In the driving seat: with so much clear profit at stake, the question of who owns Iraq's biggest natural resource is hotly contended / GettyThe Iraq war has so far cost America and Britain £105billion. But the financial clawback is gathering pace as British and American oil giants work out how to get their hands on the estimated £3trillion worth of oil. Executives from BP, Shell, Exxon Mobil and Halliburton, Dick Cheney's old firm, are expected to congregate at the Paddington Hilton for a two-day chinwag with top-level officials from Iraq's oil ministry. The gathering, sponsored by the British Government, is being described as the "premier event" for those with designs on Iraqi oil, and will go ahead despite opposition from Iraqi oil workers, who fear their livelihoods are being flogged to foreigners. The Met will be on hand to secure the venue ahead of the conference. "This is a networking opportunity for UK businesses involved in Iraqi oil," explained Dr Hussain Rabia, managing director of the consultancy Entrac Petroleum Ltd. "We have the moral support of the UK government. They're bringing the guys over from Iraq, offering them visas. We expect all the big oil companies to be there," he said.
In the driving seat: with so much clear profit at stake, the question of who owns Iraq's biggest natural resource is hotly contended / GettyThe Iraq war has so far cost America and Britain £105billion. But the financial clawback is gathering pace as British and American oil giants work out how to get their hands on the estimated £3trillion worth of oil.
Executives from BP, Shell, Exxon Mobil and Halliburton, Dick Cheney's old firm, are expected to congregate at the Paddington Hilton for a two-day chinwag with top-level officials from Iraq's oil ministry. The gathering, sponsored by the British Government, is being described as the "premier event" for those with designs on Iraqi oil, and will go ahead despite opposition from Iraqi oil workers, who fear their livelihoods are being flogged to foreigners. The Met will be on hand to secure the venue ahead of the conference.
"This is a networking opportunity for UK businesses involved in Iraqi oil," explained Dr Hussain Rabia, managing director of the consultancy Entrac Petroleum Ltd. "We have the moral support of the UK government. They're bringing the guys over from Iraq, offering them visas. We expect all the big oil companies to be there," he said.
That does not mean that there will be a "carve out". There will be NO investments in Iraq as long as the Americans are there, becasue there will be no security to invest, it's as simple as that. In the long run, we're all dead. John Maynard Keynes
