http://www.foei.org/media/2003/0126.htmlExcerpt:
US Secretary of State Colin Powell is addressing the (World Economic Forum) WEF today amidst evident concern amongst many WEF business leaders and protests across Switzerland. However, many WEF attendees in the oil industry are set to benefit from an Iraq war.
A recent Deutsche Bank report <2> indicated a potential conflict of interest amongst the permanent members of the United Nations Security Council over the commercial implications of war in Iraq. Baghdad Bazaar - Big Oil in Iraq was published last October but only came to light last week. It indicates that a regime change in Iraq would benefit US and UK oil companies while a peaceful resolution would benefit oil companies based in Russia, France and China:
"On the one hand, Saddam might yield on weapons inspectors issues, and therefore retain power. Having conceded on Weapons of Mass Destruction (WMD), the UN would then be under pressure to ease sanctions and, in that scenario, Iraq would no doubt award contracts to its current supporters: Russia, France and China. With Saddam still in power, the US and the UK would probably continue to employ delaying tactics on implementation of deals that enhanced Baghdad's revenue flows. On the other hand, if Saddam's government is replaced - as seem to be the priority for the Bush administration - and sanctions eased, then the corporate line up in Iraq may well feature US and UK companies, particularly if there has been a US driven war in the country."
- p. 14, Baghdad Bazaar, Deutsche Bank, 21/10/03.
The report identifies the following companies as potential beneficiaries, who are also participants in this year's WEF meeting:
Vagit Alekperov, President and Chief Executive Officer, Lukoil Joint Stock Oil Company (Russian Federation)
Nick Butler, Group Vice President, Policy Development, British Petroleum - BP (UK)
Thierry Desmarest, Chairman and Chief Executive Officer, TotalFinaElf SA, (France).
Sir Phillip Watts, Chairman and Chief Executive, Shell (UK/Netherlands)
Politicians and government officials present at the WEF include:
Colin Powell, Secretary of State, United States of America
Abdullah Gul, Prime Minister of Turkey
Patricia Hewitt, Secretary of State for Trade and Industry, United Kingdom
Cheng Siwei, vice Chairman of the Standing Committee. National People's Congress, People's Republic of China
Francis Mer, Minister of Economy, Finance and Industry, France
Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources, Saudi-Arabia
General (Wesley) Clark - former supreme Allied Commander for Europe, NATO is also present at the WEF.
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Sunday, 26 January, 2003, 17:15 GMT
Powell fails to woo sceptics
Leading European figures say a speech by US Secretary of State Colin Powell warning that time is running out for Iraq to disarm has not persuaded them that a military strike is necessary.
<snip>
From the business community, Cem Kozlu, chairman of Turkish Airlines, said the message from Mr Powell was bleak.
"What Mr Powell said is that if there is evidence of weapons of mass destruction in Iraq there will be war. And if there is no evidence, there will be war. That is bad news."
<snip>
Praise for Powell
But for the US, Wesley Clark, former Nato supreme allied commander for Europe, led the plaudits for Mr Powell's speech.
"He gave a very reasoned explanation of US policy," Mr Clark said. "It will help bring everyone together."
http://news.bbc.co.uk/1/hi/world/europe/2696033.stm