Iraq: It's Not About Oil
- The Jewish Lobby in the US tries to frame the oil companies
Oilmen don't want another Suez
Observer special: Iraq
Sunday December 22, 2002
While Washington hawks depict a war against Iraq as achieving
security Of oil supplies, Western oil companies are worried about the
short-term danger and the supposed long-term benefits of
intervention. Left-wing critics in Britain depict the proposed
invasion as an oil war. Former Cabinet Minister Mo Mowlam has called
it a 'war to secure oil supplies' as a cover for a war on terrorism.
And the fact that President George Bush and Vice-President Dick
Cheney have both been enriched by Oil companies raises suspicions
about their motives for war.
But oil companies have had little influence on US policy-making. Most
big American companies, including oil companies, do not see a war as
good for business, as falling share prices indicate; while the
obvious beneficiaries of war are arms companies.
Western oil companies have differing attitudes. The French want to
maintain their special relationship with Iraq, while seeking links
with Iraqi opposition leaders who may form a post-war government.
The Russians are performing a more difficult balancing act. Worried
that their previous friendship with Saddam might exclude them from a
post-war share-out, they have sought assurances from Washington in
return for their diplomatic support for a war. But Saddam has
counter-attacked by cancelling the Russian contract for developing
The British believe they are specially entitled to share in the
development of Iraqi oil supplies. BP (then known as Anglo-Persian)
was involved in the discovery of oil after the British and the French
invented Iraq as a separate state, carved out of the Ottoman Empire
But BP is worried about being displaced by US companies. As Lord
Browne, its chief executive, said in October: 'We would like to make
sure, if Iraq changes its regime, that there should be a level
playing-field for the selection of oil companies to go in there.'
The oil companies are much less confident that this escalation will
protect supplies. Shell and Exxon-Mobil have made huge investments in
natural gas in Saudi Arabia, which could be at risk in a
confrontation with the Saudi government. All oil companies in the
Middle East would face a more dangerous political climate, caught
between the American-Israeli intervention and nationalists fearing
reversion to a neo-colonial system.
Oil companies dread having supplies interrupted by burning oilfields,
saboteurs and chaotic conditions. And any attempt to redraw the
frontiers could increase the dangers in both Iran and Iraq, as rivals
seek to regain territory.
When Anthony Eden invaded Egypt in 1956, with France and Israel, he
claimed to be defending British interests - without consulting the
oil companies which opposed the invasion. The Suez war proved a
great setback for BP and Shell, which faced angry nationalist
reactions throughout the Middle East, while the Americans made the
most of their advantage.
Many oil executives now fear a war against Iraq could have more
dangerous repercussions; if it goes wrong, they will be among the
first to blame the governments that launched it.
The Iraqi War:
It's not about the oil, stupid!
by David Duke
Broadcast Date 11-29-2002
I just returned from Bahrain and Qatar. In Qatar I appeared on one
of the most-watched television satellite channels in the world,
Al-Jazeera. An audience of 70 million saw and listened to me
expose the Jewish supremacist traitors in the U.S. Government who
have sold out America to Israel. In violation of the United States
Constitution, the Jewish-dominated U.S. State Department actually
protested my appearance and tried to suppress my freedom of speech
as an American citizen. More on that a little later, but first, I
want to turn to one of the big lies about the coming war on Iraq,
that lie is that Big Oil interests, rather than the Zionists, are
behind the planned war.
The Zionists are masters at deception. Like the bait-and-switch
sales tactics of American retail giants, some elements of the
Jewish-dominated media in America have floated the idea that the
coming war in Iraq is about oil. Sounding like a genuine dissident
viewpoint, some patriots have unwittingly help spread this myth.
One antiwar pundit adopted this theory and headlined, "It's about
These claims were originated simply to deflect the blame for the
war from Israel and its fifth column in America. The warmongers
anxiously want this war NOT to appear to be the result of the
Israeli Fifth Column trying to strike down Israel's enemies one
by one. By floating the idea that the war is about oil, a resource
vital to America and Europe, the suggestion is that somehow it
is in America's and Europe's economic interest to invade Iraq.
The implication is that the war will somehow allow us to grab
the oil, and so it will be good for the economy and the common
man. Of course, the idea that we will just grab the oil is simply
preposterous. Whatever new regime is in charge of Iraq will sell
the oil at normal world spot prices!
A lot of good antiwar people have been deceived by this tactic,
and are parroting the idea that it is big Oil that really behind
this war. The Bush family ties to the oil industry are often cited
in this scenario. And frankly, it is one thousand times easier
in America to speak about conspiracies of the big bad Oil
companies than to speak of the more open and more obvious Jewish
conspiracies. Talk about big Oil conspiracies and some will call
you wrong, but no one will accuse you of the great blasphemy of
our age, the most evil of all heresies: so-called "anti-Semitism."
But really, does big Oil or America have a strong economic
motivation for this war? A few obvious facts coupled with plain,
old-fashioned reason will show you that the war against Iraq
holds no real advantage for big Oil, in fact it offers them
much peril. As far as concerning American and European economic
interests at large, the war in Iraq will have devastating
consequences, to say nothing of causing anti-American political
unrest and horrendous terrorism.
Today, I will examin the economic consequences of the Iraqi war.
The first question is "Do we have to go to war with Iraq to get
its oil?" The answer is: "Of course we don't." We bought oil
from Saddam Hussein before the Gulf War, and we can buy it now.
If America, by this war, makes a regime change in Iraq, the
American government is not simply going to pump the oil out of
the ground and put the proceeds in our treasury. Those in
political control in Iraq will still control the oil and still sell
it to the world at the international prevailing spot oil prices.
And let me make this very clear, Iraq has the second largest
oil reserves in the world. Giving Iraqi oil easier access to
the world's markets will, after the flurry of wartime higher
oil prices, eventually depress the price of oil. What does this
mean to the big American and European oil companies who have
the great bulk of their oil investments in the United States
(such as in Texas, Louisiana and Alaska), in the North Sea,
in Russia and in South America? Opening up the Iraqi market
(and Iraq will need to sell huge quantities of oil after the war
devastation) will ultimately mean, bottom line, depressed
prices for oil reserves that Big Oil actually owns! The war will not
help their profits but in the long run only hurt them. That is why
Russia, a nation with large oil reserves but less Jewish
influence, rightly opposes the war, knowing it will ultimately hurt
their own oil business.
So, in the final analysis, Big Oil has no long-term interest
in the overthrow of Saddam. And it must be admitted that Big Oil
has no strong interest in normalizing relations with Iraq either.
For if America normalizes relations with the current Iraqi regime,
the oil will flow freely, just as it would if sanctions lifted
after a so-called regime change. Either way, regime change or
normalized relations would not necessarily be good for the Big
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