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U.S. Companies Join Race on Iraqi Oil Bonanza
Key Excerpts from Article on Website of New York Times
Posted: January 16th, 2010
http://www.nytimes.com/2010/01/14/world/middleeast/14rebuild...
A wave of American companies have been arriving in Iraq in recent months to pursue what is expected to be a multibillion-dollar bonanza of projects to revive the countrys stagnant petroleum industry, as Iraq seeks to establish itself as a rival to Saudi Arabia as the worlds top oil producer. Since the 2003 American-led invasion, nearly all of the biggest reconstruction projects in Iraq have been controlled by the United States. Many rebuilding contracts are expected to be awarded as soon as this month. Concerns have been heightened by the prominent role expected to be played by American companies that have been criticized in the past ... for overcharging by hundreds of millions of dollars, performing shoddy work and failing to finish hundreds of crucial projects while under contract in Iraq. Halliburton and its former subsidiary KBR, as well as Bechtel and Parsons, have been singled out for criticism by the Special Inspector General for Iraq Reconstruction for their previous work in Iraq.
Note: The contracts just keep on coming for this key group of US corporations with connections to the highest levels of the US government. For many revealing reports from reliable sources on the profiteering which is such a major drive to modern war, click here.
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