Here's a perfect example of the lack of vision, strategic thinking, and attention to detail of our "professional" political class. Lest anyone forget, at least 4,357 U.S. military personnel have died in Iraq since the beginning of the war, and the country has spent billions--if not trillions (http://www.washingtonpost.com/wp-dyn/content/article/2008/03/07/ AR2008030702846.html)--in Iraq. While the historical parallel is certainly not perfect, can anyone imagine the United States allowing a similar economic initiative by the Soviet Union in West Germany in 1951?
Our elected officials and bureaucrats dishonor our fallen and do a disservice to our future generations. One of the most basic functions of a national government is to plan and implement a foreign policy that adequately represents a country's interests in international politics. Foreign policy is not charity. If our representatives and government professionals can not tie each any every expenditure--qualitatively or quantitatively--to the protection or advancement of American national interests, it is a wasted effort and/or the pursuit of a personal or bureaucratic agenda. The American public deserves better. Until we demand better, however, expect more of the same.
Iraq signs mega oil deal with BP and CNPC
BAGHDAD, November 3, 2009 (AFP) - Iraq on Tuesday formally signed a deal
worth 14 to 20 billion dollars with Britain's BP and China's CNPC to
almost triple production at a giant southern oilfield, an AFP
correspondent reported.
The venture is expected to boost production at the southern Rumaila
field from the current one million barrels per day to around 2.8 million
bpd over its 20-year duration.
Rumaila is already integral to Iraq's oil output, contributing almost
half of the nation's current production of around 2.5 million bpd, and
is estimated to have further reserves of 17.7 billion barrels.
BP and CNPC are projected to invest 14 to 20 billion dollars between
them and the companies have agreed to accept payment of two dollars per
additional barrel produced at Rumaila.
The Iraqi cabinet approved the contract two weeks ago.
