this post was submitted on 11 Oct 2024
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[–] Maggoty@lemmy.world 1 points 1 month ago* (last edited 1 month ago)

Point of order, the Iraqis used a worker action to prevent the US from taking the oil.

Or more specifically, from importing American oil workers and executives to rebuild the oil fields and run them in the near term. The Iraqis had a reasonable fear that they would be squeezed out of the industry and it would return to a Western corporation just taking all the oil, as it was before 1972.

Bush actually backed off and now Iraq administers it's own oil and sells leases like most other countries. Just recently they finalized a deal with Total(France), ACWA(Saudi Arabia), QatarEnergies, and Basra Oil Company (Iraq).

So hopefully it's working out for them long term.