Re: (OPE-L) Reaping the spoils of war. Ousting Saddam could put U.S. oil giants in 'driver's seat'

From: Rakesh Bhandari (rakeshb@STANFORD.EDU)
Date: Fri Mar 26 2004 - 11:49:15 EST

In thinking about your argument that the value of the Iraqi oilfields
is far exceeded by the cost of the work, I find reason in Milan Rai's
rejoinder. The cost of the war is socialized; the profits from
developing those fields are private. Imperialism can be costly for
the populace and profitable for the few. This is why I have been
objecting to David Y's argument about the spoils of imperialism which
he has now indicated does not so easily apply to the US. Indeed. In
short,  I don't think the economic discrepancy to which you point
means that the war and occupation were not economically motivated.
Moreover, I think the US wants to put itself in a position to develop
oil fields throughout the region (and otherwise maintain its position
in the Gulf). So the profits it hopes to make are not confined to
those from developing the Iraqi oil fields.

Yours, Rakesh

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