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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Lou Weed who wrote (94594)	4/18/2003 4:24:42 PM
From: KLP	Respond to of 281500

Does this help re France and Iraqi oil? Message 18834182 Message 18789986 Message 18789986

To: Lou Weed who wrote (94594)	4/18/2003 4:25:17 PM
From: Nadine Carroll	Respond to of 281500

Michael, as I understand it, had the sanctions been lifted while Saddam remained in power, TotalFinaElf would really have cleaned up: Economics may provide a better explanation. French corporations are much closer to government than American ones, and France ranks first among Iraq’s European trading partners, with $1.5 billion a year in trade. France has long advocated reducing sanctions on Iraq, and Saddam Hussein has awarded exclusive concessions over the Majnoon and Bin Umar oil fields, a total of more than 10 billion barrels in oil reserves, to French petroleum giant TotalFinaElf. French companies are rebuilding Iraq’s communications network while Peugeot’s auto sales in Iraq have already reached pre-Gulf War levels. Indeed, Iraq has transformed French-built Renault freezer trucks into mobile biological warfare laboratories. France’s sweetheart deal with Iraq would be threatened if Saddam’s dictatorship were swept away, a dynamic that lends new and cynical meaning to the words “no blood for oil.” http://www.princeton.edu/~afp/vol002_iss08/french.htm and And lastly they looked at French oil giant, TotalFinaElf. It has a sweetheart deal to develop Iraqi oil fields. But if Saddam Hussein is removed from power, TotalFina will almost certainly lose the deal 216.239.33.100