Iraq: Iraq and the Oil Wars

Aug 17, 2014 | Dennis J Bernstein, Consortium News
View Original

President George W. Bush’s invasion of Iraq gave U.S. and other Western oil companies a major stake in the country’s giant oil fields, a foothold now threatened by the offensive launched by the Islamic State and offering at least a partial explanation for President Barack Obama’s decision to return the U.S. military to the conflict.

Another complicating factor is Kurdistan’s control of some giant oil fields and its push for independence. As oil industry analyst and investigative journalist Antonia Juhasz says: “Western oil companies and the Obama administration will not permit ISIL to control Kurdistan and are willing to engage militarily to achieve this goal.”