This week, Iraqi President Jalal Talabani plans to ask the Chinese to revive a $1.2 billion oil deal originally established before the U.S. unleashed its “Shock and Awe” campaign against Saddam Hussein’s army.
“Isn’t it ironic?” asks Christopher Hancock. “After spending nearly five years and $500 billion, we're left with a divided Iraqi government that controls the world's third largest proven oil reserves… openly seeking Chinese assistance in fixing their domestic production.”
“You have to hand it to the Chinese,” admits Christopher. “I don't remember any cries from Beijing over the past five years over losing their $1.2 billion oil exploration deal. They basically sat still and waited. While America's international image eroded, the world's opinion of the Chinese has only strengthened.”
“Before you know it, the Chinese will have established deep economic ties with governments all over the globe. And they'll never use force... They know it’s best not to use a cannon to crush a mosquito.”
Shares of PetroChina surged on the news
“Isn’t it ironic?” asks Christopher Hancock. “After spending nearly five years and $500 billion, we're left with a divided Iraqi government that controls the world's third largest proven oil reserves… openly seeking Chinese assistance in fixing their domestic production.”
“You have to hand it to the Chinese,” admits Christopher. “I don't remember any cries from Beijing over the past five years over losing their $1.2 billion oil exploration deal. They basically sat still and waited. While America's international image eroded, the world's opinion of the Chinese has only strengthened.”
“Before you know it, the Chinese will have established deep economic ties with governments all over the globe. And they'll never use force... They know it’s best not to use a cannon to crush a mosquito.”
Shares of PetroChina surged on the news
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