Hunger For Outside Expertise, Funds Puts Government In Tricky Position With West-Weary Lawmakers Iraqi Oil Opened To Investment Iraq's vast oil reserves have been opened to foreign investment for the fist time since 1972. But as Elizabeth Palmer reports, this will do little to stop the skyrocketing price of crude. | (CBS) Written for CBSNews.com by CBS News correspondent Elizabeth Palmer, reporting from Baghdad. The Iraqi government has a problem - it needs international help to repair and modernize its creaking oil industry. But it has one other, bigger problem: How to get that help without being accused of selling out to American multinationals, under pressure by the U.S. administration. At a press conference Monday, during which officials announced the opening up of six key oil fields to international investment, the Oil...
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