The Meaning of National Sovereignty

RebelReports – Iraq’s “National Sovereignty Day” is U.S.-Style Hallmark Hype

In a grotesquely symbolic move, the Iraqi government marked “National Sovereignty Day” by “open[ing] up some of its massive oil and gas fields to foreign firms,” according to the Wall Street Journal: “In a televised ceremony, international oil companies were invited to submit bids for six oil and two gas fields, a process that marked their return to the country over 30 years after Mr. Hussein nationalized the oil sector and expelled the foreign firms. The fields on offer hold about 43 billion of Iraq’s 115 billion barrels of crude reserves — among the largest in the world.” Among the companies bidding were the Western oil giants ExxonMobil and BP (which reportedly won a contract on Tuesday). As The New York Times reported, “A total of 8 of the world’s 10 top non-state oil companies are competing for licenses to help develop six oil fields and two natural gas fields.”

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