Ten years after the war, it was privatized and completely controlled by foreign companies of the US government and oil companies. "Iraq has huge oil and gas reserves and I want Chevron to use it," said Kenneth Derr, then Chevron CEO, in 1998. This is true today.
Let's go back a few years back to the 1990s, when private citizen Dick Cheney ran energy giant Halliburton. That's when he told the oil industry, “By 2010, we will need 50 million barrels of oil a day. So where will the oil come from? Although many countries in the world supply the oil giant, they hold two-thirds of the middle class oil. The world's oil and the lowest prices in the East are still the final prize."
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