GasBuddy News Article

votes

As Iraq Stabilizes, China Eyes Its Oil Fields

nytimes.com -- By KEITH BRADSHER
HONG KONG — As the world’s second-largest and fastest-growing consumer of oil, China is showing increasing interest in oil fields in a country that has until very recently seemed to be firmly in the American sphere of influence for natural resources: Iraq.

After six years of war, few Americans or Iraqis may have expected China to emerge as one of the winners in Iraqi oil. But signs of stability in Iraq this year, and a planned American military pullout from Iraqi cities on Tuesday, just happen to coincide with an aggressive Chinese push to buy or develop overseas oil fields.

In another sign of China’s interest in Iraqi oil fields, Sinopec, China’s refining giant, offered $7.22 billion on Wednesday to buy Addax Petroleum, a Swiss-Canadian company with operations in

Read the Full Article

Submitted Jul 02, 2009 By: teafortwo

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: As Iraq Stabilizes, China Eyes Its Oil Fields	Post a Reply Back to Topics

REPLIES (newest first)

First Prev

Last

10k Champion Author North Carolina Posts:9,580 Points:992,515 Joined:May 2006	Message Posted: Jul 2, 2009 11:28:50 PM Ignore 10k Report Abuse iraq ??? stable ???.....HAHAHAHAHAHAHAHAHA !!!...don't y'all forget that there is a third bush out there waiting in line to be your next president if nobama leaves a country worth governing in 4 years... [Edited by: 10k at 7/3/2009 12:29:13 AM EST]
dannyshouse Champion Author San Francisco Posts:1,341 Points:458,125 Joined:Apr 2008	Message Posted: Jul 2, 2009 11:27:31 PM Ignore dannyshouse Report Abuse Chinese oil barons?
acknot Champion Author Seattle Posts:1,487 Points:768,300 Joined:Sep 2003	Message Posted: Jul 2, 2009 11:21:16 PM Ignore acknot Report Abuse Its not that simple. Iraq does not want to pay for royalties. They only want to pay for infrastructure. Everbody bid low on all oil fields except for one, the partnership that includes Sinopec. Would you invest your money with a small return and large risk? These oil companies are not fools. They are smarter than any government.
philthethrill Champion Author Hamilton Posts:1,753 Points:358,540 Joined:Nov 2008	Message Posted: Jul 2, 2009 11:19:37 PM Ignore philthethrill Report Abuse i'm afraid you're right - Buddy2264
CruisinLinda Champion Author Tallahassee Posts:4,987 Points:1,012,410 Joined:Sep 2005	Message Posted: Jul 2, 2009 11:17:29 PM Ignore CruisinLinda Report Abuse So start a war to gain power in the Middle East and have access to what is probably the second largest deposit of sweet crude in the world. When the dust settles, the demise of the Sunnis and Saddam in Iraq strengthened Iran's hand, and the US gets little oil from Iraq. The insurgents keep blowing up the pipes, and the US is spending its disposable income for two wars, over a trillion dollars. The multi-national oil companies and wealthy China will buy the oil and, more important, the means of production.
playtimeCLE Champion Author Cleveland Posts:1,761 Points:310,975 Joined:Nov 2008	Message Posted: Jul 2, 2009 11:17:20 PM Ignore playtimeCLE Report Abuse Let china sent there troops into get suicide bombed.
Buddy2264 Champion Author Tampa Posts:5,153 Points:1,096,840 Joined:Oct 2005	Message Posted: Jul 2, 2009 11:15:57 PM Ignore Buddy2264 Report Abuse They like the rest will sell their oil to the hightest bidder. I would hope then they can start paying their own bills. Conservation keeps your money in your pocket.
TommyTraveler Champion Author Cincinnati Posts:2,227 Points:434,125 Joined:Nov 2007	Message Posted: Jul 2, 2009 11:12:53 PM Ignore TommyTraveler Report Abuse Yes sir. The US fights a 6 year war there and China will take over.
TBONE3 Champion Author Pennsylvania Posts:2,432 Points:716,765 Joined:Mar 2005	Message Posted: Jul 2, 2009 11:12:23 PM Ignore TBONE3 Report Abuse Watch ut for China.
ChEPhD Champion Author Pittsburgh Posts:1,050 Points:212,470 Joined:Feb 2009	Message Posted: Jul 2, 2009 11:11:07 PM Ignore ChEPhD Report Abuse it points to the stupidity of the obama climate bill - a bill where taxpayers pays thousands more each year to reduce emissions in our country while China and India with populations many many times more than the US will continue to use more and more oil, and burn more coal to industrialize their nations. just because the US reduces emissions doesn't mean other nations will
PioneerUrban Champion Author West Virginia Posts:2,457 Points:484,155 Joined:Jun 2008	Message Posted: Jul 2, 2009 11:10:17 PM Ignore PioneerUrban Report Abuse Pretty soon China will have the fingers in everything. Do all of us a favor and buy American.
CobraLeader Champion Author New Jersey Posts:156,156 Points:848,750 Joined:Apr 2007	Message Posted: Jul 2, 2009 11:08:45 PM Ignore CobraLeader Report Abuse China owns the U.S.A. now anyway
rippinusoff Champion Author Lexington Posts:1,032 Points:228,490 Joined:May 2007	Message Posted: Jul 2, 2009 11:04:51 PM Ignore rippinusoff Report Abuse Yes..."made in China" is as American as Apple Pie...the pie just tastes really cheap and bad...
Ken2OD Champion Author Grand Rapids Posts:2,685 Points:713,860 Joined:Dec 2005	Message Posted: Jul 2, 2009 10:57:40 PM Ignore Ken2OD Report Abuse USA gets screwed again!
Jarod13 Champion Author Virginia Posts:1,662 Points:368,110 Joined:Oct 2008	Message Posted: Jul 2, 2009 10:55:57 PM Ignore Jarod13 Report Abuse ChiKid -- in time, I believe you may be right on with this prediction. America has been bought and paid for by the Chinese, so it isn't a surprise that they'll come out the winners in this Iraqi oil fields "chess game". American lives were lost just so that the Chinese could come in and reap the spoils -- what a pity that America has become the butt of jokes around the world. I better run, not walk, to sign up for Rosetta Stone's Chinese language course!
FrisperCat Champion Author Anchorage Posts:1,812 Points:380,910 Joined:May 2004	Message Posted: Jul 2, 2009 10:52:10 PM Ignore FrisperCat Report Abuse and i have to say ... .No, it wasn't
OilBGone Champion Author New Jersey Posts:2,542 Points:473,085 Joined:Jul 2008	Message Posted: Jul 2, 2009 10:47:49 PM Ignore OilBGone Report Abuse So you have to ask yourself this question - was this really all worth it?
ChiKid Champion Author Denver Posts:1,529 Points:419,085 Joined:Apr 2008	Message Posted: Jul 2, 2009 10:47:35 PM Ignore ChiKid Report Abuse The old golden rule, "He who has the gold sets the rules." We sold our selves to the Chinese to stabilize our economy. Now we are paying for it.
JoeKR Champion Author New Jersey Posts:3,677 Points:897,230 Joined:Feb 2006	Message Posted: Jul 2, 2009 10:43:45 PM Ignore JoeKR Report Abuse Perhaps we can get a bail-out from China in appreciation of preserving the Iraqi oil fields for their consumption.
billsandi Champion Author Lexington Posts:7,209 Points:1,335,770 Joined:Aug 2005	Message Posted: Jul 2, 2009 10:32:03 PM Ignore billsandi Report Abuse I'm appaled when anyone would call a war where we lost 4,000 people "silly." Not to mention what we lost on 9/11, and until now at least, have avoided another attack on US soil.
GPRS08 Sophomore Author Maryland Posts:213 Points:402,340 Joined:May 2008	Message Posted: Jul 2, 2009 10:31:04 PM Ignore GPRS08 Report Abuse ...and here comes China!
jmuse Champion Author Long Island Posts:2,219 Points:445,370 Joined:May 2008	Message Posted: Jul 2, 2009 10:24:31 PM Ignore jmuse Report Abuse Who couldn't see this coming?
DosEquis26 Champion Author Chicago Posts:1,053 Points:848,260 Joined:Jun 2006	Message Posted: Jul 2, 2009 10:22:07 PM Ignore DosEquis26 Report Abuse I thought the whole idea of our starting this silly war and suffering over 4,000 dead Americans was that WE would get the oil fields???
hauler43 Champion Author Oakland Posts:3,544 Points:1,575,990 Joined:Sep 2003	Message Posted: Jul 2, 2009 10:19:10 PM Ignore hauler43 Report Abuse The Americans did all the work, now the Chinese want to come in for a free ride. That ain't right.
TomT2Lee Champion Author Cincinnati Posts:2,634 Points:915,825 Joined:Sep 2005	Message Posted: Jul 2, 2009 9:59:03 PM Ignore TomT2Lee Report Abuse If it were not for the fact that Iraq isn't stabilizing and that American soldiers died going into Iraq, this could be funny.
humblepie Champion Author Toledo Posts:6,272 Points:1,113,505 Joined:Mar 2006	Message Posted: Jul 2, 2009 9:57:44 PM Ignore humblepie Report Abuse like the movie of the same name " there will be blood "
cincidap Champion Author Cincinnati Posts:2,525 Points:494,525 Joined:Sep 2006	Message Posted: Jul 2, 2009 9:57:09 PM Ignore cincidap Report Abuse I suppose China earned it by lending us the money (by buying worthless government bonds) to undertake the war in the first place. They basically own us, why not Iraq too? As for "watching" China, I've been doing so since the Clinton years. Unfortunately, those with power and a venue were unwilling to listen. [Edited by: cincidap at 7/2/2009 10:58:22 PM EST]
phae Rookie Author Austin Posts:34 Points:155,130 Joined:Jan 2009	Message Posted: Jul 2, 2009 9:51:34 PM Ignore phae Report Abuse unbelievable!
arnerator Champion Author Seattle Posts:1,784 Points:370,260 Joined:Sep 2008	Message Posted: Jul 2, 2009 9:51:23 PM Ignore arnerator Report Abuse We do the dirty work, then they come in
eights Champion Author Ohio Posts:1,702 Points:440,110 Joined:Aug 2006	Message Posted: Jul 2, 2009 9:44:32 PM Ignore eights Report Abuse wow
Bleeder Champion Author Virginia Posts:2,585 Points:550,640 Joined:Jan 2008	Message Posted: Jul 2, 2009 9:39:29 PM Ignore Bleeder Report Abuse No blood for oil for them. They just waited and paid for it.
SWITCHMAN Sophomore Author Missouri Posts:197 Points:1,022,670 Joined:Apr 2005	Message Posted: Jul 2, 2009 9:37:27 PM Ignore SWITCHMAN Report Abuse When did China send their troops to help in Iraq, did any of their men and women die their in a foreign country, and lets face it it was for control of OIL. I am appalled at our leadership that would let this happen. If I was in our military I would refuse to deploy in that region.
mdegug Champion Author Rochester Posts:1,057 Points:376,515 Joined:Jul 2008	Message Posted: Jul 2, 2009 9:27:08 PM Ignore mdegug Report Abuse send troops
bigmaninarig Champion Author St. Louis Posts:2,191 Points:402,550 Joined:Jul 2008	Message Posted: Jul 2, 2009 9:24:48 PM Ignore bigmaninarig Report Abuse Those are ours...you go get your own!
mach1lives Sophomore Author Riverside Posts:182 Points:401,815 Joined:Jun 2006	Message Posted: Jul 2, 2009 9:20:40 PM Ignore mach1lives Report Abuse go china
jjjleblanc All-Star Author Rochester Posts:986 Points:373,915 Joined:Jun 2008	Message Posted: Jul 2, 2009 9:19:52 PM Ignore jjjleblanc Report Abuse Capitalism at work.
purvismike Champion Author Wisconsin Posts:1,495 Points:301,910 Joined:Feb 2008	Message Posted: Jul 2, 2009 9:16:19 PM Ignore purvismike Report Abuse Bye bye shoeffly
kruk Champion Author London Posts:1,889 Points:212,425 Joined:Jan 2007	Message Posted: Jul 2, 2009 9:09:32 PM Ignore kruk Report Abuse look like China is sending message who is capable to run the show
fuelconscious Veteran Author Los Angeles Posts:378 Points:110,550 Joined:Jan 2008	Message Posted: Jul 2, 2009 9:07:16 PM Ignore fuelconscious Report Abuse China undercuts the world in prices. So i am sure we will get a bargain of deal on oil from the chinese.
grandamgt1 Veteran Author Illinois Posts:398 Points:179,660 Joined:Apr 2008	Message Posted: Jul 2, 2009 9:04:50 PM Ignore grandamgt1 Report Abuse hmmm, wonder if they'll cut us a deal for doin their dirty work for em the last few years.
dhnbBUG Champion Author Pennsylvania Posts:2,252 Points:515,350 Joined:Apr 2008	Message Posted: Jul 2, 2009 8:54:20 PM Ignore dhnbBUG Report Abuse China is positioning itself to be more important than the United States.
TXGasPriceSpy Champion Author Fort Worth Posts:1,256 Points:222,445 Joined:Sep 2008	Message Posted: Jul 2, 2009 8:50:17 PM Ignore TXGasPriceSpy Report Abuse We better be watching Russia and now China very closely. I look for China to be the big dog before very long. Don't take your eyes off of them.
GaryG7 Champion Author New Jersey Posts:7,409 Points:1,448,725 Joined:Aug 2005	Message Posted: Jul 2, 2009 8:50:04 PM Ignore GaryG7 Report Abuse Why don't we make Iraq the 51st state? That way China won't get first dibs on the oil, we will.