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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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Blue48 Champion Author Illinois Posts:1,872 Points:497,000 Joined:Feb 2007	Message Posted: Jul 3, 2009 9:37:58 PM Ignore Blue48 Report Abuse WE SHALL SEE HOW BIG OF A MESS THIS TURNS INTO!!
Kamakani Champion Author Hawaii Posts:1,404 Points:418,140 Joined:Oct 2008	Message Posted: Jul 3, 2009 2:56:52 AM Ignore Kamakani Report Abuse I still say Iraq owes us. We should get first crack at their oil.
RLH68 Champion Author Orlando Posts:3,961 Points:732,000 Joined:Jun 2007	Message Posted: Jul 3, 2009 1:20:25 AM Ignore RLH68 Report Abuse KGSHULL, your comment makes a lot of sense!
rwm1 Champion Author Iowa Posts:1,701 Points:703,150 Joined:Oct 2007	Message Posted: Jul 3, 2009 1:14:30 AM Ignore rwm1 Report Abuse 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.
KGSHULL Champion Author Oregon Posts:2,960 Points:246,545 Joined:Oct 2008	Message Posted: Jul 3, 2009 12:56:51 AM Ignore KGSHULL Report Abuse 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.
spiderjay Champion Author Little Rock Posts:2,075 Points:500,155 Joined:Oct 2005	Message Posted: Jul 3, 2009 12:54:01 AM Ignore spiderjay Report Abuse JUST LIKE STARVING CHILDERN AT THE WINDOW OF WENDY's
NavyStore Champion Author Seattle Posts:1,851 Points:1,013,915 Joined:Aug 2005	Message Posted: Jul 3, 2009 12:49:19 AM Ignore NavyStore Report Abuse 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.
bosrs All-Star Author Seattle Posts:863 Points:303,660 Joined:Oct 2006	Message Posted: Jul 3, 2009 12:38:53 AM Ignore bosrs Report Abuse ok.. who's next?
bobdec Champion Author Florida Posts:3,433 Points:671,275 Joined:May 2008	Message Posted: Jul 3, 2009 12:25:02 AM Ignore bobdec Report Abuse This will not be god for the USA
jcurley Champion Author California Posts:2,792 Points:676,650 Joined:Dec 2007	Message Posted: Jul 3, 2009 12:24:02 AM Ignore jcurley Report Abuse 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.
Vette1967 All-Star Author Albany Posts:771 Points:171,565 Joined:Jun 2009	Message Posted: Jul 3, 2009 12:22:38 AM Ignore Vette1967 Report Abuse 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.
applejoe Champion Author Twin Cities Posts:1,814 Points:379,955 Joined:May 2001	Message Posted: Jul 3, 2009 12:17:48 AM Ignore applejoe Report Abuse I'll bet it won't take China long to start drilling.
movinon Champion Author Kansas City Posts:15,969 Points:1,615,660 Joined:Mar 2005	Message Posted: Jul 3, 2009 12:12:56 AM Ignore movinon Report Abuse We sold out to China a long time ago. Look at all the Made in China stickers you see everywhere.
furiousfowl Champion Author Riverside Posts:10,996 Points:1,655,870 Joined:May 2005	Message Posted: Jul 3, 2009 12:09:59 AM Ignore furiousfowl Report Abuse ohh boy, gonna be a rise in prices there
alaric76 Champion Author New Jersey Posts:10,319 Points:1,880,920 Joined:Nov 2004	Message Posted: Jul 3, 2009 12:09:10 AM Ignore alaric76 Report Abuse part of the plan of the traitors running this country is to sell us out by doing things detrimental to the USA.
Toppers Champion Author Atlanta Posts:3,267 Points:1,329,960 Joined:Mar 2005	Message Posted: Jul 3, 2009 12:06:58 AM Ignore Toppers Report Abuse China's got the world in it's pocket...
LuvEd08 All-Star Author Georgia Posts:762 Points:157,710 Joined:Apr 2008	Message Posted: Jul 3, 2009 12:04:29 AM Ignore LuvEd08 Report Abuse Another way for China to put us in it's pocket..
MUSTANGSRUS Champion Author Ontario Posts:3,803 Points:824,020 Joined:Sep 2006	Message Posted: Jul 3, 2009 12:01:49 AM Ignore MUSTANGSRUS Report Abuse Can't read the article. It is no longer available. But it is one more way for China to dominate the world.
007HS Champion Author California Posts:6,909 Points:1,841,985 Joined:Aug 2003	Message Posted: Jul 2, 2009 11:58:39 PM Ignore 007HS Report Abuse AH SO!!! We have upper hand now...
pbc2001 Champion Author Dallas Posts:2,080 Points:370,110 Joined:Feb 2009	Message Posted: Jul 2, 2009 11:55:03 PM Ignore pbc2001 Report Abuse World peace is what we all need.
ctu7771 Sophomore Author New York City Posts:177 Points:434,775 Joined:Jul 2008	Message Posted: Jul 2, 2009 11:47:48 PM Ignore ctu7771 Report Abuse always.
BartBuzz Champion Author Atlanta Posts:3,010 Points:633,860 Joined:Aug 2006	Message Posted: Jul 2, 2009 11:45:47 PM Ignore BartBuzz Report Abuse And here I thought Iraq wanted to pay us back for all we did to give them freedom and democracy.
EOCSSEABEE All-Star Author Detroit Posts:735 Points:210,120 Joined:Oct 2008	Message Posted: Jul 2, 2009 11:43:41 PM Ignore EOCSSEABEE Report Abuse 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.
spike1zz Champion Author Indiana Posts:2,752 Points:470,445 Joined:Oct 2008	Message Posted: Jul 2, 2009 11:40:47 PM Ignore spike1zz Report Abuse China will own it
96sc1 Champion Author El Paso Posts:4,863 Points:590,695 Joined:Mar 2008	Message Posted: Jul 2, 2009 11:37:28 PM Ignore 96sc1 Report Abuse Who isn't?
9C1 Champion Author Chicago Posts:16,750 Points:3,103,540 Joined:Jul 2001	Message Posted: Jul 2, 2009 11:31:17 PM Ignore 9C1 Report Abuse Use it up before the Chinese get it.
250FORD Champion Author Minnesota Posts:6,779 Points:1,069,810 Joined:Feb 2007	Message Posted: Jul 2, 2009 11:30:59 PM Ignore 250FORD Report Abuse I guess we should be getting money from the Chinese for the Iraq war mess then.
K1500 Champion Author Birmingham Posts:1,054 Points:176,000 Joined:May 2008	Message Posted: Jul 2, 2009 11:27:12 PM Ignore K1500 Report Abuse 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]
djoumy All-Star Author New York Posts:872 Points:385,950 Joined:Sep 2008	Message Posted: Jul 2, 2009 11:26:51 PM Ignore djoumy Report Abuse usa will push china out of iraq,
cutter1330 Champion Author Oklahoma Posts:2,250 Points:545,935 Joined:Jul 2005	Message Posted: Jul 2, 2009 11:24:25 PM Ignore cutter1330 Report Abuse China needs this oil just like we do.
grouch311 Champion Author Illinois Posts:3,183 Points:507,355 Joined:Jun 2007	Message Posted: Jul 2, 2009 11:23:35 PM Ignore grouch311 Report Abuse right now China has the cash to buy just about anything they want
dkinsf Champion Author San Jose Posts:2,367 Points:666,710 Joined:Mar 2007	Message Posted: Jul 2, 2009 11:23:10 PM Ignore dkinsf Report Abuse So Bush sent all those troops over there just to protect the interests of the Chinese? That guy was just full of good ideas.
john382 Champion Author Illinois Posts:6,660 Points:1,338,775 Joined:Aug 2005	Message Posted: Jul 2, 2009 11:14:11 PM Ignore john382 Report Abuse Who would have seen this coming? China will have everything soon enough.
Bruno44 Champion Author Texas Posts:2,078 Points:703,420 Joined:Sep 2007	Message Posted: Jul 2, 2009 11:10:58 PM Ignore Bruno44 Report Abuse What an appropriate name: Sin-opec.
Helms Champion Author Fort Worth Posts:3,535 Points:1,069,195 Joined:Jun 2005	Message Posted: Jul 2, 2009 11:10:07 PM Ignore Helms Report Abuse firmly in the American sphere of influence.....thanks to Bush...
CPR54 Champion Author Austin Posts:4,851 Points:1,171,360 Joined:Jul 2006	Message Posted: Jul 2, 2009 11:06:00 PM Ignore CPR54 Report Abuse war is upon us nukes cpr
sammy09 Veteran Author Twin Cities Posts:274 Points:239,980 Joined:May 2009	Message Posted: Jul 2, 2009 10:55:16 PM Ignore sammy09 Report Abuse lets hope for a peaceful future
Saturn93 Champion Author Salt Lake City Posts:3,371 Points:840,425 Joined:Oct 2006	Message Posted: Jul 2, 2009 10:55:08 PM Ignore Saturn93 Report Abuse 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.
vulcan96 Champion Author Ohio Posts:16,769 Points:1,953,985 Joined:Aug 2004	Message Posted: Jul 2, 2009 10:52:06 PM Ignore vulcan96 Report Abuse may not be a good thing !
Blue_Cruzer Champion Author Lexington Posts:2,152 Points:604,260 Joined:Mar 2007	Message Posted: Jul 2, 2009 10:51:45 PM Ignore Blue_Cruzer Report Abuse Things might get more interesting in Iraq real soon.
CampKohler Champion Author Sacramento Posts:2,390 Points:672,360 Joined:May 2007	Message Posted: Jul 2, 2009 10:46:49 PM Ignore CampKohler Report Abuse 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.
rxman1 Champion Author Toledo Posts:3,422 Points:741,080 Joined:Nov 2007	Message Posted: Jul 2, 2009 10:41:01 PM Ignore rxman1 Report Abuse World pollution will be continued by China while Cap and Trade kill business in the good old USA
Don1222 Champion Author Michigan Posts:5,254 Points:588,430 Joined:Jul 2008	Message Posted: Jul 2, 2009 10:39:15 PM Ignore Don1222 Report Abuse Alternative fuels.
NavyEOD Champion Author Los Angeles Posts:4,258 Points:884,440 Joined:Jul 2007	Message Posted: Jul 2, 2009 10:37:01 PM Ignore NavyEOD Report Abuse We should have taken all the oil when we invaded them.
DarthDadJr Champion Author Virginia Posts:2,500 Points:498,435 Joined:Jul 2008	Message Posted: Jul 2, 2009 10:35:19 PM Ignore DarthDadJr Report Abuse The Chinese are smart...they are buying while the price is low!
dl72 Champion Author Los Angeles Posts:1,566 Points:278,535 Joined:May 2009	Message Posted: Jul 2, 2009 10:33:20 PM Ignore dl72 Report Abuse 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.
Signfool Champion Author Omaha Posts:2,806 Points:586,800 Joined:May 2008	Message Posted: Jul 2, 2009 10:33:15 PM Ignore Signfool Report Abuse It would not be good for the US is China starts getting a foothold in there.
jiamusi45 Champion Author Calgary Posts:1,145 Points:63,165 Joined:May 2009	Message Posted: Jul 2, 2009 10:29:13 PM Ignore jiamusi45 Report Abuse Start another war and this will get us out of this recesion, and create more jobs.
10k Champion Author North Carolina Posts:11,272 Points:1,103,125 Joined:May 2006	Message Posted: Jul 2, 2009 10:28:50 PM Ignore 10k Report Abuse 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]
dannyshouse Champion Author San Francisco Posts:1,417 Points:547,635 Joined:Apr 2008	Message Posted: Jul 2, 2009 10:27:31 PM Ignore dannyshouse Report Abuse Chinese oil barons?