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Friday, October 23, 2009     FOR YOUR EYES ONLY

T. Boone Pickens on Iraq: 'We leave there with the Chinese getting the oil'

WASHINGTON — A leading energy developer said the United States has been excluded from Iraq's revived energy market.   

T. Boone Pickens told Congress that U.S. companies were losing opportunities in the Iraqi crude oil and natural gas sectors to competitors from China and Europe.

The senior executive said the United States could lose all influence in the Iraqi oil sector after the military withdrawal in 2011.


Also In This Edition

"They're opening them [oil fields] up to other companies all over the world," Pickens told the Congressional Natural Gas Caucus on Oct. 21.

"We leave there with the Chinese getting the oil," he said.

Pickens urged Congress to demand a U.S. share of Iraqi oil exploration and development contracts.

In 2009, Iraq awarded its first oil contracts to foreigners, selecting British Petroleum and China's state-owned CNPC, Middle East Newsline reported. ExxonMobil and ConocoPhillips have been competing with Russia's LukOil to develop Iraq's West Quran oil field.




Comments


For anyone who thinks electric and solar are going to run America in the near future, they're deluding themselves. Maybe in 50 years, but not soon. Can't build any new nuclear or coal (thanks to environ nutjobs), can't build any massive wind or solar in death valley (thanks to Cali's congress) and can't drill for more large amounts of oil (you know who to thank for that). What will have to happen before people wake up?

Randy      2:02 p.m. / Saturday, October 24, 2009


Just wait, the best it yet to come. Oil is already over $80 p/barrel. Next is Israel's offensive against Iran before the end of the year. Better hang on after that.

vision 2009      1:44 p.m. / Saturday, October 24, 2009


Those who are FANTASIZING about "road-ready" hydrogen fuel need to stop inhaling/imbibing! We have NO INFRASTRUCTURE to store/distribute hydrogen fuel TODAY on a wide scale and it will take MONUMENTAL investments and time/labor to build/deploy such nationally.

KungFuSV      3:36 a.m. / Saturday, October 24, 2009


I'm naive about this compared to an oil tycoon, but the Chinese are going to still buy the oil from the Iraqi's right? It's a Chinese COMPANY that is making profits but the actual oil is still being sold and if they are buying it there it's freeing it up somewhere else, oil is oil. Hey I'm an Iraq War Vet, I don't give a hoot what nationality the company is that gets the contract, maybe T Bone should just shut his pie hole and go farm some wind like he said he'd be doing now after the election.

Josh in Fahahee      1:57 a.m. / Saturday, October 24, 2009


Ingratitude is one of the most disgusting attributes of humanity. Iraqi's have shown it in spades. Sorrow for those who lost loved ones in that hell hole I spent 2 years in. I saw it coming.

Buster Lhode      11:01 p.m. / Friday, October 23, 2009


Dems will leave the Iraqi's high and dry. When the situation deteriorates and Chinese get the oil, Dems will blame Bush - bad, bad Bush. Good, good, Obama, even if you freeze in your home for lack of energy or get kicked out into the street while Obama gives YOUR home, jobs, and retirement money to his pals and enemies of the USA.

Mad_As_H      10:05 p.m. / Friday, October 23, 2009


This was predicted by a Washington Times editorial in mid-2007: http://www.globalsecuritieswatch.org/Washington_Times_Editorial.pdf

Greg      9:59 p.m. / Friday, October 23, 2009


This was predicted by a Washington Times editorial in mid-2007: http://www.globalsecuritieswatch.org/Washington_Times_Editorial.pdf

Greg      9:59 p.m. / Friday, October 23, 2009


Boone Pickens is a Texas wildcatter who hit it big, managed it well, and built a business empire. For that I salute him. But the conquest and occupation of Iraq was never about democracy or WMDs, or even oil. It was about installing a base of American military power into the heart of the Ummah. It was pure power projection. This should not require any apology to any nation or religion. We have become very weak and irresolute. Not sure what will be the price. Not hopeful.

ChipsterGa      9:56 p.m. / Friday, October 23, 2009


Mr. Pickens, I can not believe how a man so smart is so "off" target. The future of the U.S. economy and transportation is no longer in oil, it is in making hydrogen from seawater and solar energy. We have the delivery system in natural gas pipelines, we have the fuel injection technolgy, we have the storage vessels for our cars and trucks and our homes from our space programs. No need for under-powered electric vehicles when we can convert existing engines to hydrogen combustion. A fortune is waiting for the right people. This isn't rocker science and it AIN't no fairytale.

James Dean      9:53 p.m. / Friday, October 23, 2009


To those of you who think that imposing a fuel tax is a good idea, you're wrong. People don't generally commute by automobile because it's discretionary: There are few to no alternatives. Here in the Seattle suburbs, there are no light rail trains, and the bus system can't handle the capacity. So, really, what do you expect people to do? The only thing that a fuel tax will do is reduce peoples' income, it will only pad government coffers, and won't contribute to reducing fuel consumption. Plus, it will decimate ground transportation (eg trucking, transport, etc) and increase the cost of goods & services for everyeone. Bad idea.

Tom      9:49 p.m. / Friday, October 23, 2009


Get a clue....oil is finite. Work the renewables if you want sustained civilization. The original reason to go into Iraq was for oil. The USA forgot to plunder. Don't forget: "The oil from iraq will pay" the nearly 1 trillion it cost to secure the oil.

devon shmidt      9:47 p.m. / Friday, October 23, 2009


Get a clue....oil is finite. Work the renewables if you want sustained civilization. The original reason to go into Iraq was for oil. The usa forgot to plunder. Don't forget: "The oil from iraq will pay" the nearly 1 trillion it cost to secure the oil.

devon shmidt      9:47 p.m. / Friday, October 23, 2009


Mary Louise - your comment makes perfect sense and is the very reason that our idiot leaders will not allow it.

Tyler Mc      9:18 p.m. / Friday, October 23, 2009


What Mr. Pickens is saying is that the global oil game is the "open market". He is saying that the US is not participating. The Chinese will pump it to their homeland or sell it to us for "who knows what?". Obama doesn't believe in open market capitalism. We lose. Ready for 10.00 gasoline?

charlietexas      9:14 p.m. / Friday, October 23, 2009


Forget about cap and trade, etc. No need to worry about Iraqi oil. You can cut the consumption of oil and energy by roughly 1/2 if all companies instituted a 50 percent telecommuting policy on all "office" workers. Think of how much gas would be saved if half of the morning commute was slashed. T

Violet Willis      9:11 p.m. / Friday, October 23, 2009


The Chinese need the oil to fuel all the U.S. companies that left American shores chasing the low labor costs.It was American know how and investment that made China as powerful as it is; the genie is out of the bottle and now the USA will have to deal with a Stalinist expansionary regime that will swarm over the world like a plague of locusts.

mick o' kelly      9:06 p.m. / Friday, October 23, 2009


The Iraqis are going to give the oil to the Chinese is no surprise....Only one American soldier's testimony is all that is needed... 'You can't trust any of them...they care nothing for human life'...

Kathleen      8:55 p.m. / Friday, October 23, 2009


While the looney left embraces the global warming HOAX, we will find ourselves without oil or enough energy of any type to maintain a viable economy. We must explore for oil and drill for it ASAP! Simultaneously, seek new types of energy. However oil=National Security! All of this would provide for lots of JOBS, NOW. Demand your senator and Congressman sees to it the the stimulous is spent on drilling for oil and alternative Energy, without delay.

energynow1      8:54 p.m. / Friday, October 23, 2009


Bad Oil. Bad, bad oil. We wouldn't want ExxonMobil to get it would we. Save the planet and give that cheap oil to the Chinese, they deserve it. Let them melt their side of the planet.

MG      8:52 p.m. / Friday, October 23, 2009


Thank the Democrats for this. Liberalism is a foreign ideology and the antithesis of what made America great.

Charles      8:52 p.m. / Friday, October 23, 2009


One could attest to the fact that thousands of our young men... and yes some young women gave up their lives to see a ruthless tyrant de-throned, all to what avail? Surely we deserve a minuscule bene for shedding so much blood and $$$? Let us not countenance another unearned windfall by the People's Republic of China or any other nation-state for that matter.

Don Zweifel      8:52 p.m. / Friday, October 23, 2009


No sweat. Given the 60s radicals running this obamanation, they are more interested in getting the opium from Afghanistan!

average man      8:51 p.m. / Friday, October 23, 2009


Wait a moment. Weren't Liberals and Dems cackling that it was the oil that we were after all along? Why aren't they celebrating?

OregonYankee      8:47 p.m. / Friday, October 23, 2009


Another splendid by-product of the Democrats. What a bunch of loons that simply need to be thrown out....along with their global warming hoax.

Jimmy Smith      8:26 p.m. / Friday, October 23, 2009


China helped pay for the U.S. to go and secure the oil by purchasing massive amounts of debt required to fund the war effort. This is how they collect on those debts. Good job, short-sighted 'leaders' of America! You should have listened to the Founders and avoided foreign entanglements.

TJ      8:26 p.m. / Friday, October 23, 2009


I believe Pickens voted for Obama. And if he didn't he sure went out of his way in 2008 to be one of those "kiss up to Obama and the Democrats" gazillionaires. So look in the mirror Pickens!

anon      8:26 p.m. / Friday, October 23, 2009


Alot of good comments on this post but I especially agree with Ike. I like T boone but I still have a bad taste about his center of the road approach to a bunch of ant-energy hand wringers who are now in office.
    T Boone, you BLEW it by not endorsing conservatives in the last election. . . .

Dean Guilberry      8:23 p.m. / Friday, October 23, 2009


I do not believe we went there for the oil but it certainly would have been nice to get it cheap after it was offered to us. Thanks again to Chuckie Schumer for his help in ensuring we did not get it.

WWII      8:21 p.m. / Friday, October 23, 2009


Liberals world-wide have complained for the last seven years that America invaded Iraq to take its oil. Now they are bitching that America is not taking Iraq's oil.

Patti O'Riley      8:21 p.m. / Friday, October 23, 2009


Thank Chuckie Schumer and the Democrats for this one. When the Iraqis offered us exploration rights Chuck & Co went apoplectic that the contracts weren't awarded by competitive bidding, so the Iraqiis withdrew them and bid them out. Unfortunately, Pickens was too busy working on his wind fiasco and sucking up to the Dems over wind funding and blew off the opportunities Bush/Cheney and our military tried to hand us on a silver platter. Now we are sending the Brazilians our tax dollars to drill off their shores in order to sell to us while California goes bankrupt.

Looking For Sanity      8:05 p.m. / Friday, October 23, 2009


Good point, Daniel... ["So where those who were claiming that U.S. went there for oil. Remember "no blood for oil"?] Looks like they were working for the ChiComs after all... gee, whodathunk?

Dredd      8:05 p.m. / Friday, October 23, 2009


I agree we should have 100 percent of the oil contracts. As usual, Americans do the dirty work and the scum of the earth profit. HOWEVER. Don't go crying to Congress when these same hypocrites refuse to allow us to drill for our own oil OR build any refineries or power plants. NOT TO MENTION Gas is almost $3 a gallon.

Mike      8:01 p.m. / Friday, October 23, 2009


The Democrats in Congress do not have the ability or strength of conviction to demand that U.S. oil firms be given rights to develop Iraq oil. However they will atempt to blame the resulting oil shortages in the future on the Republicans.

Akdogman      8:01 p.m. / Friday, October 23, 2009


Going to Iraq for the oil was what everyone thought was happening, because it was the only sound reason for going there. Unfortunately, it wasn't the reason! Did someone really think we could change Iraq?

rich amble      8:01 p.m. / Friday, October 23, 2009


T Boone, you BLEW it by not endorsing conservatives in the last election. I saw you take a non-sided approach in your commercials while all the while Democrats were the true enemy of energy advances....we all saw it but you kept silent when you had a chance to affect opinion. Shame on you.

Ike Smith      7:44 p.m. / Friday, October 23, 2009


So we should drill for our own oil. It's all over the country: North Dakota, Alaska, Gulf of Mexico, and more. We drill, the Middle East loses its control over oil and us; they lose the money to fund terrorists so easily, and last, but definitely not least, we pump life into the economy, creating industries and JOBS, JOBS, JOBS.

Mary Louise Monaghan      7:42 p.m. / Friday, October 23, 2009


We need to drill here, drill now, America or else how would you like to see $6-7 a gallon gasoline.... If only we would allow development of the oil and natural gas reserves we have in this country, wean ourselves off foreign oil, regain our trade balance and keep the money we are sending to OPEC for ourselves - talk about job creation and end of the Great Recession!

Ben Bailess      7:38 p.m. / Friday, October 23, 2009


So where those who were claiming that U.S. went there for oil. Remember "no blood for oil"?

Daniel      7:38 p.m. / Friday, October 23, 2009

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