Monday, July 02, 2007

China's New Oil Source: Iraq

China's New Oil Source: Iraq

Read the article.


America needs oil imports and it is beyond me how the American government and oil businesses let this get away from them and into the hands of China. Was it not true that Iraqi oil would at least partially pay for the Iraqi War and the rebuilding of the physical Iraq infrastructure like roads, bridges, utilities, and the like? I guess the American people will continue to get stuck with the bill or Iraqi IOU's which is the same thing since the new Iraq government does not seem to be able to pay us.

Now the Chinese will get some oil.

It remains to be seen how many Chinese nationals will be located there. With all of the violence, I am sure they will be armed. I am sure the Chinese will exert their influence in Iraq. There may be confrontations between the Chinese and the Americans and their allies. It may all lead to the division of Iraq like Germany was divided after World War II. All in all, Chinese oil and other interests in Iraq and the region cannot be good.

Was this a surprise to our President and State Department? Was this something they planned for? Oops I think some mistakes were made again by the White House. Will this further de-stabilize the oil markets and increase the price of oil? Will this further de-stabilize peace in the region?

Stay tuned folks. It won't be over until long after Bush and Cheney leave office. Hopefully, we can elect a President that can solve these problems. America cannot afford to elect an ordinary President this time but a great one.