Who Own's Iraq's Oil?

From an article by Antonia Juhasz, Why the War In Iraq was Fought for Big Oil:

It has been 10 years since Operation Iraqi Freedom's bombs first landed in Baghdad. And while most of the U.S.-led coalition forces have long since gone, Western oil companies are only getting started.

Before the 2003 invasion, Iraq's domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms.

Antonia Juhasz

From ExxonMobil and Chevron to BP and Shell, the West's largest oil companies have set up shop in Iraq. So have a slew of American oil service companies, including Halliburton, the Texas-based firm Dick Cheney ran before becoming George W. Bush's running mate in 2000.

The war is the one and only reason for this long sought and newly acquired access.

Full coverage: The Iraq War, 10 years on

Oil was not the only goal of the Iraq War, but it was certainly the central one, as top U.S. military and political figures have attested to in the years following the invasion.

"Of course it's about oil; we can't really deny that," said Gen. John Abizaid, former head of U.S. Central Command and Military Operations in Iraq, in 2007. Former Federal Reserve Chairman Alan Greenspan agreed, writing in his memoir, "I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil." Then-Sen. and now Defense SecretaryChuck Hagel said the same in 2007: "People say we're not fighting for oil. Of course we are."

For the first time in about 30 years, Western oil companies are exploring for and producing oil in Iraq from some of the world's largest oil fields and reaping enormous profit. And while the U.S. has also maintained a fairly consistent level of Iraq oil imports since the invasion, the benefits are not finding their way through Iraq's economy or society.

These outcomes were by design, the result of a decade of U.S. government and oil company pressure. In 1998,Kenneth Derr, then CEO of Chevron, said, "Iraq possesses huge reserves of oil and gas-reserves I'd love Chevron to have access to." Today it does.  Read more.