{"id":36653,"date":"2013-06-03T09:25:38","date_gmt":"2013-06-03T15:25:38","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/2013\/06\/03\/its-all-about-the-oil-at-least-for-china.html"},"modified":"2013-06-03T11:14:14","modified_gmt":"2013-06-03T17:14:14","slug":"its-all-about-the-oil-at-least-for-china","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2013\/06\/03\/its-all-about-the-oil-at-least-for-china.html","title":{"rendered":"It's all about the oil (at least for China)"},"content":{"rendered":"
China is the biggest beneficiary of Iraq's oil boom, cutting new contracts, building compounds and airports, making major infrastructure investments, and making friends with\u00a0the locals. 'In fancy hotels in the port city of Basra, Chinese executives impress their hosts not just by speaking Arabic, but Iraqi-accented Arabic.'<\/i><\/p>\n

Maybe we should let them assume some of the defense \/ security costs and responsibilities, too …<\/p>\n

I found this side note interesting:<\/p>\n

'Notably, what the Chinese are not doing is complaining. Unlike the executives of Western oil giants like Exxon Mobil, the Chinese happily accept the strict terms of Iraq\u2019s oil contracts, which yield only minimal profits. China is more interested in energy to fuel its economy than profits to enrich its oil giants.'<\/i><\/p>\n

'Chinese companies do not have to answer to shareholders, pay dividends or even generate profits. They are tools of Beijing\u2019s foreign policy of securing a supply of energy for its increasingly prosperous and energy hungry population. \u201cWe don\u2019t have any problems with them,\u201d said Abdul Mahdi al-Meedi, an Iraqi Oil Ministry official who handles contracts with foreign oil companies. \u201cThey are very cooperative. There\u2019s a big difference, the Chinese companies are state companies, while Exxon or BP or Shell are different.\u201d'<\/i><\/p>\n

I have no desire to see major businesses operate under a central government control, but there are some strategic advantages to being able to disregard this quarter's profit in favor of long-term investment.<\/p>\n

(h\/t +<\/span>George Wiman<\/a><\/span>)<\/p>\n

Reshared post from +Jeffrey Canton<\/a><\/strong><\/p>\n

Good thing we spent all of that "blood and treasure" in Iraq<\/p><\/blockquote>\n<\/div>\n

\n

\n \n <\/div>\n

China Reaps Biggest Benefits of Iraq Oil Boom – NYTimes.com<\/a>
\n Since the toppling of Saddam Hussein, Chinese state-owned companies have poured workers and billions of dollars into Iraq to secure a steady supply of energy for China.\n <\/p>\n

View this post on Google+<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China is the biggest beneficiary of Iraq's oil boom, cutting new contracts, building compounds and airports, making major infrastructure investments, and making friends with\u00a0the locals. 'In fancy hotels in the port city of Basra, Chinese executives impress their hosts not just by speaking Arabic, but Iraqi-accented Arabic.' Maybe we should let them assume some of … Continue reading “It's all about the oil (at least for China)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[106,35,131,10],"tags":[],"class_list":["post-36653","post","type-post","status-publish","format-standard","hentry","category-plusposts","category-big-business","category-energy","category-geopolitical-brouhaha"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3651,"url":"https:\/\/hill-kleerup.org\/blog\/2002\/10\/14\/its_all_about_o.html","url_meta":{"origin":36653,"position":0},"title":"It’s all about oil, of course","author":"***Dave","date":"Mon 14-Oct-02 8:34am","format":false,"excerpt":"While war drums beat on the Potomac, a number of folks suggest that the whole impetus for US military action against Iraq is to get at the oil there. 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According to the International Herald Tribune, French interests have signed with Iraq drilling contracts worth...","rel":"","context":"In "Geopolitical Brouhaha"","block_context":{"text":"Geopolitical Brouhaha","link":"https:\/\/hill-kleerup.org\/blog\/category\/geopolitical-brouhaha"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9762,"url":"https:\/\/hill-kleerup.org\/blog\/2006\/11\/06\/its_all_about_the_oil_aft.html","url_meta":{"origin":36653,"position":3},"title":"It’s all about the oil, after all?","author":"***Dave","date":"Mon 6-Nov-06 1:43pm","format":false,"excerpt":"Well, no, not really. Though, rhetorically, it does look like a backtrack. During the run-up to the invasion of Iraq, President Bush and his aides sternly dismissed suggestions that the...","rel":"","context":"In "Elections 2006"","block_context":{"text":"Elections 2006","link":"https:\/\/hill-kleerup.org\/blog\/category\/politics-law\/elections-2006"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41985,"url":"https:\/\/hill-kleerup.org\/blog\/2014\/05\/15\/maybe-kay-should-learn-german.html","url_meta":{"origin":36653,"position":4},"title":"Maybe Kay should learn German","author":"***Dave","date":"Thu 15-May-14 5:59am","format":false,"excerpt":"My daughter plans on taking Mandarin Chinese in high school next year, but looking at this map, German might be a better alternative if she plans on sticking around in Colorado.Reshared post from +Yonatan ZungerThis is a great little dive into US Census data: What's the most commonly spoken language\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160909,"url":"https:\/\/hill-kleerup.org\/blog\/2026\/01\/07\/national-security-or-financial-security.html","url_meta":{"origin":36653,"position":5},"title":"National Security? 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