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Iraq: World's 4th largest oil reserves, so why is it so poor? watch

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    I always knew Iraq being in the middle-east had a bit of oil, but I have only just learned today that it has the world's 4th largest oil reserves (behind Saudi Arabia, Canada, Iran).
    Why then is it such a poor country? I know the political instability always doesn't allow the country to progress, but the rest of these oil rich countries, Saudi Arabia, Kuwait, UAE, Qatar etc. havn't just boomed out of nowhere only a few years ago..it's the result of work done since late 70's/early 80's.
    I'm not aware of Iraq's entire history, but why did the country not capitalize on this boom well before all this instability and political war kicked in? Also, assuming ofcourse the oil reserves are still active and are contributing the most to its economy, where is all this money going? where is it being spent :confused:
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    Because the US is stealing it as we speak
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    (Original post by Charzhino)
    Because the US is stealing it as we speak
    How so? I've heard his many times, but I don't understand how a country can just go and literally steal natural resources?
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    Why oh why. Charzino is right, the US are literally just "stealing" everything they can. They're evil and unethical to the bone. How can a country just literally steal, this is what you ask Davy-Jones? Well, let's see. You get troops, send them there to destroy the order and get the world to think Iraq is the evil one. Sounds like a good plan. Oh wait, this has already happened.
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    (Original post by Davy-Jones)
    How so? I've heard his many times, but I don't understand how a country can just go and literally steal natural resources?
    It's America we're talking about. America can steal everything and still get away with it :yep:
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    Cos they don't have control over their own oil.
    Apart from America "stealing" it the oil is probably sold really cheap hence Iraq is poor.
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    (Original post by Charzhino)
    Because the US is stealing it as we speak
    This.

    Plus, it is destroying the country's infrastructure as we speak... wait, they've accomplished that, already.
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    white ppl steals people's land thru colonisation so i cnt see y they wnt steal oil
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    WAR!
    vietdoan20062006
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    That would be the doing of America young grasshopper
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    What they said.
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    because they instantly blow all their $$$ on hookers, booze, drugs and pork.

    hold on that's not right at all
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    I read somewhere apparently before the first gulf war Baghdad was one of the most advanced cities in the middle east, as in it was a western standard in electronics etc, but obviously being invaded twice and all the religious in-fighting tends to own a country. Which is interesting actually, apparently the instability is alot to do with shi'ite and sunni muslims...but why was that never a problem before the first gulf war, or was it just unreported as no-one really cared about the place until someone said a guy with a bushy moustache had cyclone B hidden behind his golf clubs...
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    US has exploited iraq like that UK has exploited africa
    why isnt iraq poor of course iraq is poor by USA
    US didt make iraq be the better than saddam
    we(my parent) were going iraq before war but now isnt
    we contacted with people living in iraq easly but now people are in depression and dont want to talk with us
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    The talk of the United States is so poor is amateurish and at best, a feeble, weak and hardly thoughtful conclusion to a very complicated issue.

    If the United States is guilty of making Iraq poor then why was the state just as poor when Hussain was in power? The answer is because the US is not making Iraq poor, if anything when we pull out of Iraq, it will be ruled by its majority (shia muslims) and electoral and political pluralism is an iffinite amount higher then under Hussain's leadership.

    There is a number of reasons why Iraq is poor. Education is one of them. But one of the most important reasons is because of the structure of the Iraq's social and economic system. The state is run by a minority elite who hold most of the wealth of the nation and, much worst, restrict any kind of social mobility as they hold a monopoly on social and public services.

    Those two reasons are enough for now for discussion. Just simply calling the blame on the United States is laughable and juvenile.
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    (Original post by e-lover)
    The talk of the United States is so poor is amateurish and at best, a feeble, weak and hardly thoughtful conclusion to a very complicated issue.

    If the United States is guilty of making Iraq poor then why was the state just as poor when Hussain was in power? The answer is because the US is not making Iraq poor, if anything when we pull out of Iraq, it will be ruled by its majority (shia muslims) and electoral and political pluralism is an iffinite amount higher then under Hussain's leadership.

    There is a number of reasons why Iraq is poor. Education is one of them. But one of the most important reasons is because of the structure of the Iraq's social and economic system. The state is run by a minority elite who hold most of the wealth of the nation and, much worst, restrict any kind of social mobility as they hold a monopoly on social and public services.

    Those two reasons are enough for now for discussion. Just simply calling the blame on the United States is laughable and juvenile.
    Yes listen to this Political Economist.

    It happens in a lot of other countries as well such as Nigeria - who incidently have large oil reserves. They're called Bottlenecks (the social elite who are in a minority). They just capture all the profits and use it either to fund terrorists or increase their own wealth. It's all sad really
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    (Original post by 02mik_e)
    Yes listen to this Political Economist.

    It happens in a lot of other countries as well such as Nigeria - who incidently have large oil reserves. They're called Bottlenecks (the social elite who are in a minority). They just capture all the profits and use it either to fund terrorists or increase their own wealth. It's all sad really
    Yeah sadly it's the same in Iran...not to such an extent but it is still severe...
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    Same question can be said for Saudi Arabia.
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    (Original post by NDGAARONDI)
    Same question can be said for Saudi Arabia.
    That one's easy, if you're not royalty..you won't see any progress
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    The US is stealing it, what else do you think them soldiers hang around there with those huge barrels for? :yes:
 
 
 
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