Disaster Capitalism: State of Extortion

Disaster Capitalism: State of Extortion

Naomi Klein writing for The Nation:

One week after the no-bid service deals were announced, the world caught its first glimpse of the real prize. After years of back-room arm-twisting, Iraq is officially flinging open six of its major oil fields, accounting for around half of its known reserves, to foreign investors. According to Iraq’s oil minister, the long-term contracts will be signed within a year. While ostensibly under control of the Iraq National Oil Company, foreign firms will keep 75 percent of the value of the contracts, leaving just 25 percent for their Iraqi partners.

This development seems hardly surprising given U.S. foreign policy towards the Middle East over the past several decades, but surely such an endeavor might make suspect the claim that we went to fight in Iraq in order to liberate them and to eliminate the threat of weapons of mass destruction, etc. But of course that would be ludicrous.

Moreover, it strikes me as impossible to call the relationship between the U.S. and Iraq as anything other than “imperial,” but that can’t be, we hate empires! After all, the U.S. was born out of anticolonial struggle. Perhaps something to remember over fourth of July weekend.