Friday, August 29, 2008

The wave of the future

Iraq and China have almost agreed to the terms of a $3 billion oil service contract. "Iraq has toughened the terms, changing the contract to a set-fee service deal from the oil production sharing agreement signed under Saddam."

Except possibly for a few nominal contracts to American companies (just to prove there is no anti-American bias!) watch for all the big oil development and service contracts to go to the national oil companies of countries that didn't participate in the attack on Iraq (e.g., China, Libya, Venezuela, etc). I call this a guarantee rather than a prediction. This War For The Jews wasn't a 'war for oil'.