Why Does Donald Trump Want Iraq’s Oil?

Despite oil prices dropping, it still remains a valuable commodity across the world. This is particularly the case for a number of countries, in the east, that rely on it. For the likes of Kuwait, Libya and Iraq, oil makes up over 90% of their international exports. So why, then, does Donald Trump plan on depriving Iraq of their most valuable resource?

Bad intentions

In a recent political forum, the Republican presidency candidate suggested an intention to take some of Iraq’s oil. Part of his reasoning is that it will act as a return from the lengthy Iraq war. “We go in, we spend three trillion dollars, we lose thousands and thousands of lives, and then we get nothing. You know, it used to be to the victor belong the spoils,” proclaimed the former US Apprentice host.

It’s not quite as random as it seems, however. He’s actually referring to the oil being held by Islamic State in Iraq. Because of the high value to the country, Islamic State (ISIS) have targeted these resources and now completely control some of Iraq’s oil. “One of the benefits we would have had if we took the oil is ISIS would not have been able to take oil and use that oil to fuel themselves,” Trump added.

Reimbursement

He suggests that up to $1.5 trillion worth of oil is up for grabs in Iraq, though even this is up for debate. While Iraq do have a huge oil reserve – the fifth biggest in the world by most estimations – Islamic State are thought to only control a small proportion of it. Most of the oil is in the south, which isn’t controlled by ISIS, with another big chunk in the far north, which is being controlled by Kurdish forces.

While it has received a lot of criticism, it’s not completely different from the current plan. The US military are already targeting these oil operations – like control of the refineries and oil transport – to take them away from ISIS. Trump takes a step further, however, with a plan to actually seize the oil for American profit.

Oil in Iraq

The importance of the oil fields in the ongoing eastern conflict is clearly very high. One example of this is Kirkuk Field in the North of Iraq. With a production rate of up to a million barrels per day, it’s the most notable oil field in the north of Iraq. The significance? Both Iraqi and Kurdish forces are present in and around Kirkuk, as the oil is pivotal in controlling the area. Read more about this substantial resource in ‘The Kirkuk Oilfield’.

Image Credit: Wikimedia Commons