[LateGreatPlanetEarth]

all that struggle with no return.
http://articles.moneycentral.msn.com/In ... g-oil.aspx

[Plantagenet]

Great article.

The most telling point was that private oil companies like Exxon and Chevron have to show a profit. National Oil Companies like Russia's Lukoil don't, so they are more able to develop marginal fields under non-competitive terms then a private company like Exxon.

Its just another good reason for the US to pull all its troops out of Iraq now.

[Daniel_Plainview]

Exxon Mobil (XOM, news, msgs), which in November won the right to develop Iraq's West Qurna 1 field, is the only U.S. company to lead a winning bid. And Occidental Petroleum (OXY, news, msgs) is the only U.S. oil company that wound up as a junior partner in a winning bid.

all that struggle with no return.

Yeah, it appears that the US will be receiving an excellent return on its multi-trillion dollar investment in Iraq.

Time to cut our losses.

[JoeW]

It doesn't really matter where the extra oil goes. It just matters that the extra oil supply is added and produced. When Saddam Hussein controlled it, you always had to doubt the production. With a company--any company--it's guaranteed. Companies don't care for politics...just for profits.

[kpeavey]

We have a military presence. When the time comes, we will take by force what is needed to maintain our way of life. Why pay for development when we can steal it?

[eastbay]

Great article.

The most telling point was that private oil companies like Exxon and Chevron have to show a profit. National Oil Companies like Russia's Lukoil don't, so they are more able to develop marginal fields under non-competitive terms then a private company like Exxon.

Its just another good reason for the US to pull all its troops out of Iraq now.

Does this make sense?

Any reason to pull all the occupation forces out makes sense. So yes, it makes sense.