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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Haim R. Branisteanu who wrote (81503)	7/15/2008 1:13:48 AM
From: critical_mass	Read Replies (1) of 116555

Shameless, but they really have no choice. Germany seeking oil in Iraq Sun, 13 Jul 2008 01:34:12 Germany's economy minister has arrived in Iraq for a surprise visit becoming the first German cabinet minister to visit Iraq since the US invasion. The economy ministry has declined to give further details about Michael Glos's visit but German weekly Bild am Sonntag reports that he is to meet with Iraqi Prime Minister Nouri al-Maliki Saturday to discuss issues on oil projects. "No other country in the Middle East at the moment has such a large, untapped oil reserve," Glos was quoted as saying of Iraq in the magazine. Germany opposed the 2003 US of Iraq but has since attempted to actively take part in oil and reconstruction projects in the war-torn country. European interest in Iraq, especially its massive energy potential, has grown. The European Union is negotiating an energy pact with Iraq, part of the bloc's efforts to reduce dependence on Russian oil and gas. Glos has expressed alarm in recent months about the impact of higher oil prices on Germany's economic growth. This is while Iraq also announced on Saturday that al-Maliki will soon visit Berlin. presstv.ir

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