Iraqi oil contracts: the spoils of war?

If Iraq's oil belongs to the Iraqis, why are western companies being awarded contracts?

"The Iraq war is largely about oil." If any more confirmation were needed of Alan Greenspan's admission, the Iraqi government is preparing to hand out oil deals to American and British firms in contracts drafted by US officials. The contracts are expected to go to Exxon Mobil, Shell, BP, Total and Chevron.

The New York Times has discovered that new oil contracts were drawn up with the help of the US state department.

US vice-president Dick Cheney once pledged that Iraq's oil resources belonged to the Iraqi people . Does that promise still hold?

[Excerpt of article by Matthew Weaver, The Guardian]

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