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Many would claim that unlocking Iraq's oil potential was the primary goal of the U.S. invasion, and one would be naive to think that oil wasn't at least part of the invasion calculus.
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Post-invasion, Iraq is actually hard-bargaining their oil deals, offering relatively meager returns to winning bidders and keeping much of the profit potential to itself. The U.S. has been mostly left out as a result.
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On paper, these contracts hold the potential to satisfy one aspect of Washington’s oil hunger, while frustrating another. If fully implemented, they could collectively boost Iraqi production from 2.5 million to 8 million barrels per day in just a few years. They would not, however, deliver control over production [[or the bulk of the revenues) to foreign companies, so that Iraq and OPEC could continue, if they wished, to limit production, keep prices high, and wield power on the world stage.
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