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As Iraq Stabilizes, China Eyes Its Oil Fields

nytimes.com -- By KEITH BRADSHER
HONG KONG — As the world’s second-largest and fastest-growing consumer of oil, China is showing increasing interest in oil fields in a country that has until very recently seemed to be firmly in the American sphere of influence for natural resources: Iraq.

After six years of war, few Americans or Iraqis may have expected China to emerge as one of the winners in Iraqi oil. But signs of stability in Iraq this year, and a planned American military pullout from Iraqi cities on Tuesday, just happen to coincide with an aggressive Chinese push to buy or develop overseas oil fields.

In another sign of China’s interest in Iraqi oil fields, Sinopec, China’s refining giant, offered $7.22 billion on Wednesday to buy Addax Petroleum, a Swiss-Canadian company with operations in


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Submitted Jul 02, 2009 By: teafortwo
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Champion Author Illinois

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Message Posted: Jul 3, 2009 8:37:58 PM

WE SHALL SEE HOW BIG OF A MESS THIS TURNS INTO!!
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Champion Author Hawaii

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Message Posted: Jul 3, 2009 1:56:52 AM

I still say Iraq owes us. We should get first crack at their oil.
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Champion Author Orlando

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Message Posted: Jul 3, 2009 12:20:25 AM

KGSHULL, your comment makes a lot of sense!
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Champion Author Iowa

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Message Posted: Jul 3, 2009 12:14:30 AM

When all else fails to get prices up, threaten with China. After all they've taken jobs for years. But the problem is, their economy is hurting worse than ours. So a lot of their car buying dreams and industrialization are fading like ours.
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Champion Author Oregon

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Message Posted: Jul 2, 2009 11:56:51 PM



The only thing China has over the USA is cheap labor and no unions.
Oh, and also a work ethic - which we seemed to have lost.

If we weren't so spoiled, pampered and preoccupied with celebrity drug overdoses and pop (or rap) music, we might get our own priorities straight.

You reap what you sew.
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Champion Author Little Rock

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Message Posted: Jul 2, 2009 11:54:01 PM

JUST LIKE STARVING CHILDERN AT THE WINDOW OF WENDY's
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Champion Author Seattle

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Message Posted: Jul 2, 2009 11:49:19 PM

Well, Duh! Thanks to the actions of President Bush #41 & 43 we've built up & wrecked Iraq and left them open to influence from the Chinese. What we need to do is get off oil for our own economy and that will force the Chinese & Indian governments to follow suit.
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All-Star Author Seattle

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Message Posted: Jul 2, 2009 11:38:53 PM

ok.. who's next?
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Champion Author Florida

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Message Posted: Jul 2, 2009 11:25:02 PM

This will not be god for the USA
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Champion Author California

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Message Posted: Jul 2, 2009 11:24:02 PM

China has the money. (See: Golden Rule.)

Why? because China (a) has a national banking system, and (b) they don't allow currency speculators and hedge funds to control the exchange rate of their currency.
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All-Star Author Albany

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Message Posted: Jul 2, 2009 11:22:38 PM

Maybe there is some good in all this. Can't wait to see what China will do when some of these Iraqis set off a car bomb or two in and around their newly acquired petroleum company.
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Champion Author Twin Cities

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Message Posted: Jul 2, 2009 11:17:48 PM

I'll bet it won't take China long to start drilling.
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Champion Author Kansas City

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Message Posted: Jul 2, 2009 11:12:56 PM

We sold out to China a long time ago. Look at all the Made in China stickers you see everywhere.
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Champion Author Riverside

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Message Posted: Jul 2, 2009 11:09:59 PM

ohh boy, gonna be a rise in prices there
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Champion Author New Jersey

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Message Posted: Jul 2, 2009 11:09:10 PM

part of the plan of the traitors running this country is to sell us out by doing things detrimental to the USA.
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Champion Author Atlanta

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Message Posted: Jul 2, 2009 11:06:58 PM

China's got the world in it's pocket...
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All-Star Author Georgia

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Message Posted: Jul 2, 2009 11:04:29 PM

Another way for China to put us in it's pocket..
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Champion Author Ontario

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Message Posted: Jul 2, 2009 11:01:49 PM

Can't read the article. It is no longer available. But it is one more way for China to dominate the world.
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Champion Author California

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Message Posted: Jul 2, 2009 10:58:39 PM

AH SO!!! We have upper hand now...
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Champion Author Dallas

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Message Posted: Jul 2, 2009 10:55:03 PM

World peace is what we all need.
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Sophomore Author New York City

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Message Posted: Jul 2, 2009 10:47:48 PM

always.
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Champion Author Atlanta

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Message Posted: Jul 2, 2009 10:45:47 PM

And here I thought Iraq wanted to pay us back for all we did to give them freedom and democracy.
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All-Star Author Detroit

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Message Posted: Jul 2, 2009 10:43:41 PM

Of course China will get it. We get our butts shot off and we reap no benefits. Pull the troops out now. Let China defend it's oil fields.
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Champion Author Indiana

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Message Posted: Jul 2, 2009 10:40:47 PM

China will own it
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Champion Author El Paso

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Message Posted: Jul 2, 2009 10:37:28 PM

Who isn't?
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Champion Author Chicago

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Message Posted: Jul 2, 2009 10:31:17 PM

Use it up before the Chinese get it.
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Champion Author Minnesota

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Message Posted: Jul 2, 2009 10:30:59 PM

I guess we should be getting money from the Chinese for the Iraq war mess then.
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Champion Author Birmingham

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Message Posted: Jul 2, 2009 10:27:12 PM

So now we're letting China feed off of us?!? We go clean out the dictating forces so China can go in an steal the resources? If anyone should have that oil, it should be us. China is taking all of the world's oil and causing the prices to jack up with it. It'll be too late once we get a real president in the office again to do anything...

[Edited by: K1500 at 7/3/2009 1:28:09 AM EST]
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All-Star Author New York

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Message Posted: Jul 2, 2009 10:26:51 PM

usa will push china out of iraq,
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Champion Author Oklahoma

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Message Posted: Jul 2, 2009 10:24:25 PM

China needs this oil just like we do.
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Champion Author Illinois

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Message Posted: Jul 2, 2009 10:23:35 PM

right now China has the cash to buy just about anything they want
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Champion Author San Jose

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Message Posted: Jul 2, 2009 10:23:10 PM

So Bush sent all those troops over there just to protect the interests of the Chinese? That guy was just full of good ideas.
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Champion Author Illinois

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Message Posted: Jul 2, 2009 10:14:11 PM

Who would have seen this coming? China will have everything soon enough.
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Champion Author Texas

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Message Posted: Jul 2, 2009 10:10:58 PM

What an appropriate name: Sin-opec.
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Champion Author Fort Worth

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Message Posted: Jul 2, 2009 10:10:07 PM

firmly in the American sphere of influence.....thanks to Bush...
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Champion Author Austin

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Message Posted: Jul 2, 2009 10:06:00 PM

war is upon us nukes cpr
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Veteran Author Twin Cities

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Message Posted: Jul 2, 2009 9:55:16 PM

lets hope for a peaceful future
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Champion Author Salt Lake City

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Message Posted: Jul 2, 2009 9:55:08 PM

If push came to shove the Chinese would certainly be willing to share Iraq's oil with us. All it would take is for Pres. Obama to apologize for using so much of the world's oil and then ask real nicely.
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Champion Author Ohio

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Message Posted: Jul 2, 2009 9:52:06 PM

may not be a good thing !
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Champion Author Lexington

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Message Posted: Jul 2, 2009 9:51:45 PM

Things might get more interesting in Iraq real soon.
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Champion Author Sacramento

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Message Posted: Jul 2, 2009 9:46:49 PM

Say, now there is an idea. Let's encourage China to invade and take over Iran. There would be no monkey business about terrorist training camps, etc. While we don't care for China's "brand of tea," we seem to get along with them economically. And we could sell them all the neat toys they will need to fight the endless, endless war. Better them than us.
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Champion Author Toledo

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Message Posted: Jul 2, 2009 9:41:01 PM

World pollution will be continued by China while Cap and Trade kill business in the good old USA
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Champion Author Michigan

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Message Posted: Jul 2, 2009 9:39:15 PM

Alternative fuels.
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Champion Author Los Angeles

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Message Posted: Jul 2, 2009 9:37:01 PM

We should have taken all the oil when we invaded them.
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Champion Author Virginia

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Message Posted: Jul 2, 2009 9:35:19 PM

The Chinese are smart...they are buying while the price is low!
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Champion Author Los Angeles

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Message Posted: Jul 2, 2009 9:33:20 PM

Great, we clean up the mess and China comes in and cleans up the oil fields. I thought that was part of the reason we were there, to take control of Iraqi oil.
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Champion Author Omaha

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Message Posted: Jul 2, 2009 9:33:15 PM

It would not be good for the US is China starts getting a foothold in there.
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Champion Author Calgary

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Message Posted: Jul 2, 2009 9:29:13 PM

Start another war and this will get us out of this recesion, and create more jobs.
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Champion Author North Carolina

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Message Posted: Jul 2, 2009 9:28:50 PM

iraq ??? stable ???.....HAHAHAHAHAHAHAHAHA !!!...don't y'all forget that there is a third bush out there waiting in line to be your next president if nobama leaves a country worth governing in 4 years...

[Edited by: 10k at 7/3/2009 12:29:13 AM EST]
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Champion Author San Francisco

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Message Posted: Jul 2, 2009 9:27:31 PM

Chinese oil barons?
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