May 6, 2012

Mission Accomplished - Exxon to Drill 20 Oil Wells in Iraq

Some of us said this was the reason all along. Sad.

"Private Empire": Author Steve Coll on the State-Like Powers, Influence of Oil Giant ExxonMobil

JUAN GONZÁLEZ: We turn now to look at one of the largest and most powerful corporations in the country: ExxonMobil. In the hour it takes for this show to broadcast, ExxonMobil will earn almost $5 million in profit. Last week, the corporate giant reported that it had earned nine-and-a-half billion dollars in profits in the first three months of this year, or almost $104 million per day.

Earlier this week, ExxonMobil signed a contract with the Iraqi Drilling Company in Basra to drill 20 oil wells in one of world’s largest undeveloped fields with recoverable oil reserves. Iraq is expected to be the world’s biggest source of new oil supplies over the next few years after signing contracts for big development projects with major oil companies.

more at the link http://www.democracynow.org/2012/5/4/private_empire_author_steve_coll_on#transcript