It Was All About the Oil... for the French 

In documents I obtained during an investigation of the French relationship to Saddam Hussein, the French interest in maintaining Saddam Hussein in power was spelled out in excruciating detail. The price tag: close to $100 billion. That was what French oil companies stood to profit in the first seven years of their exclusive oil arrangements - had Saddam remained in power.
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Almost as soon as the guns went silent after the first Gulf war in 1991, French oil giants Total SA and Elf Aquitaine - who have now merged and expanded to become TotalFinaElf - sought a competitive advantage over their rivals in Iraq by negotiating exclusive production-sharing contracts with Saddam's regime that were intended to give them a stranglehold on Iraq's future oil production for decades to come.

  Posted at 8:39 AM by Nick |   |   |  

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