By John Solomon
How the government's punishing of the exposure of official wrongdoing can linger for years
Independent voices from the TWT Communities
South Korean firm KOGAS on Wednesday signed a major deal to develop a major natural gas field in western Iraq — another sign that foreign rivals are proving tough competitors to American energy giants in Iraq eight years after the American-led invasion to oust Saddam Hussein.
Oil and gasoline prices have risen to their highest levels in two years, and analysts say prices could shoot up dramatically this year as the thirst for fuel grows in the U.S. and around the world.
"They're not doing anything with it right now," said Carl Larry, director of research and derivatives at Blue Ocean Brokerage. "That's a problem."
"I just don't think they really wanted to invest any more in the Middle East, especially in Iraq right now," he said. "They weren't aggressive enough."