So, overnight, the world has another 29 billion barrels of oil after Iraq decided to upgrade its proven reserves from 114 billion to 143 billion barrels based on new evaluations of West Qurna and Zubair fields in the south. That’s pretty much an entire year of global demand right there. Although the details are a more »
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In today's news roundup, Greg Muttitt reveals untold stories of the occupation of Iraq and explores the reasons behind the US invasion (yes, oil figures in the story but not in the way most like to think); international companies plan Uganda's oil export future while the government looks the other way; and a top US Senator confirms that, indeed, he and many of his besuited colleagues are afraid of China. Jadaliyya: The Unfinished Story of Iraq's Oil Law: An Interview with Greg Muttitt In this interview with Jadaliyya ezine, Greg Muttitt, author of the superb Fuel on The Fire: Oil and Politics in Occupied Iraq, sheds light on Iraq's controversial and yet-to-pass oil law, along with other under-reported nuggets on the US occupation of Iraq. It's pretty common knowledge that oil was at the center of the 2003 invasion but, as Muttitt explains, it wasn't as simple as the US trying to secure Iraq's oil riches for ExxonMobil and other oil industry chums.