TheWorldJournal.com

A War for the Bucks?
By Jean-Francois Numainville, TheWorldJournal.com

The Business world is said to be based on perceptions, often just the impression that people might think they'll be laid-off is enough to put an entire economy off balance: Investors will stop putting money in stocks, and banks will think twice before according a loan they would usually OK without problems. Many persons analyzing the economy are surprised by how the littlest details can offset a powerful country. Recently, the American government, under a Republican administration, has put a lot of pressure on Iraq so that it would destroy the weapons of massive destruction it is suspected to have.

The current situation originated 10 years ago when Iraq invaded its southern neighbour - Kuwait. Saddam Hussein has decided to cooperate with the UN inspector in charge of scouting some suspicious facilities on the Iraqi territory. Hopefully the outcome will be set in the favour of the people of Iraq whom have been under the fist of an embargo since the end of the Gulf War, 10 years ago. But is Saddam still really a threat to us? Or is there some other motivation for a possible war in the gulf?

Striking Iraq wouldn't be such a bad thing for anybody who has some money involve in the oil business. A new Golf war means bouncing oil prices because Iraq is an important player in the market and so, less oil supplied means higher prices. and big profits for oil companies. Coincidently or not, the people conducting efforts in building a case against Iraq have interest of also having a healthy oil industry.

First of all, the Vice-President, Dick Cheney, was the CEO of the Halliburton Group until 2000, a Texas-based energy corporation that most of its profits by exploiting and refining crude oil. The corporation is still contributing to the Republican Party even after a confidence scandal shocked its shareholders. On his side, the President himself has always had links with the oil industry. He formed Bush Exploration in the mid seventies, using the money his father earned by also taking benefits of the petroleum market. The company eventually filed for bankruptcy and was acquired by Spectrum-7, whose management was composed of supporter of the Republican Party.

Later on in its career, George W. Bush took advantage again of its connections with the government when he joined and participate in Harken Energy. The group, also based in Texas, when through many problems and its financial health deteriorate by the end of the 80's, until they came up with a new prospecting project: Exploiting an off-shore oil patch in the Persian Golf. The contract was signed and the deal went on just months before George Bush Senior declared the war in the region. The associations between the oil industry and the Bush family when on through the decade and even today, the ex-President is still active in the petroleum industry and even the military sector.

The links between the Bush family, the Republican Party and the energy sector are undeniable even after the oldest son of the legacy took power. During the 2000 elections, they were many contributions from oil companies to the Republican campaign for the highest office in the country. Although the cause of securing the World from the threats of terrorisms are fully justifiable and noble, one can rightly ask itself if the priorities are set in the right place. In deed, besides being a country with an infamous past, today Iraq is a fairly isolated country that had little contact with terrorist groups. This is unlike many countries in the same region and elsewhere all implicated in exchanging with many such criminal organizations.

Until today, the American and Iraqi government have acted in a peaceful manner that can ultimately resolve this conflict without military actions. This outcome would be in the interest of both people: both put through a lot of sufferance lately.

© December 7, 2002