Finally, the moment the US was waiting for seems to be drawing near. With Iraq holding oil in cornucopia and its abundant oil interests in the country, the US looks forward to Iraq to formulate its oil policy, the sooner it does, the better for the US. What about American occupation of Iraq? Will the US be leaving the country in lurch once its oil interests are satisfied?
American invasion of Iraq under the sigh of restoring peace and destruction of Saddam Hussein’s weapons of mass destruction is heading for a showdown. Not that the US is going to fight Iraq for distributing its abundant oil reserves, but America wants Iraq to formulate its oil policy that will govern the future handling of its huge oil fields. In anticipation of the moment, the US seems clearly to compel the Iraqi leadership to make it central to the future oil handling process in the country that would indirectly quench the thirst of the US economy.
The new Iraq Oil system would contain provisions for revenue sharing, with a restructuring of the Oil Ministry. In this regard, Iraq National Oil Co. has to be formed that would cater to the needs and demands of the country and the world, under the aegis of the country’s Oil Ministry that is stipulated to look into issues relating to the hydrocarbon sector from procurement, transport and storage of crude and refined products to managing price controls and imports, combating smuggling and corruption that is bound to be rampant for Iraq’s vast reserves and improving budget implementation. 
Helping it in such a vast strategy would be the effervescent US. Why not? After all, the US has trained and skilled personnel, who would be sent on a mission mode program to Iraq, very much like its troops to train and help Iran rebuild its tattered and battered oil economy, which is deemed to make or mar the country, especially with dark, greedy eyes ready to pounce on Iraq’s oil wealth.
The biggest worry is the overexploitation of oil in Iraq by the US, which if unsatisfied can lavish huge sanctions on any country and Iraq’s present situation is worrisome, with no stable government at the helm and violence continuing to split blood. The need of the day is restoration of peace that even the NATO forces have failed to muster. Once opened for exploration, Iraq could become one of the world’s most attractive oil realms for investors from all over the globe.
Or if we say Iraq’s oil economy will be ruled by the US and its oil interests, won’t be wrong. Isn’t it? After all, the US invaded the country for its splendid oil wealth.
Via: Washingtonpost
