Under the current status of forces agreement between the US and Iraq, the US retains all air rights over Iraq. How long this will continue is uncertain. But it will be a key bellwether of Washington’s intentions since air power is the key to US military power around the globe. Any Israeli attack on Iran would most likely pass through Iraqi air space.
In his impressive new book, "Oil," writer Tom Bower notes America’s trinity is "God, guns and gasoline." Iraq’s oil reserves are an estimated 112 billion barrels, the world’s second largest after Saudi Arabia. Canada ranks third. Iraq also has vast natural gas reserves, an increasingly important fuel and raw material. Oil-hungry India and China are eying Iraq.
America’s once mighty oil firms, the "seven sisters," have been elbowed out of most of the world’s oil fields by nationalist governments and replaced by state petroleum companies. Iraq’s ruler, Saddam Hussein, kicked US, British and French oil firms out of Iraq, and so sealed his fate. Big Oil moved back into Iraq behind invading US troops in 2003, and is taking over Iraq’s oil production and exporting.
