So Shell,BP and Exxon, corporations that would never be in Iraq if we didn't invade, are investing billions to pump oil for China . Ok I get it now. Americans have to be the biggest suckers ever for send our military to be killed and wounded not to mention spending ....,um borrowing, trillions of dollars so Iraq could sell oil to China. I could say the same for doing that for Exxon,BP and Shell too. Well..I guess it would be OK if gas prices went down to one dollar a gallon in the USA....Not.
I predict that when production gets ramped up Exxon,BP and Shell will be the biggest beneficiaries along with a bunch of other foreign corporations on a lesser scale.
It looks to me like the Russians are getting a little pissy about the US expanding it's control over countries too close to Russia. Imagine if Russia was invading Panama or some other close to the US countries. Would the US just sit back and hope for the best?

Wall Street Journal 4/21/2014:
Companies including BP BP.LN +0.85% PLC, Royal Dutch Shell RDSB.LN -0.29% PLC and ExxonMobil Corp. XOM +0.40% have invested billions of dollars to revive oil fields battered by decades of war, sanctions and neglect. But Iraq's government has been slow to modernize the infrastructure to move that oil from wells to tankers.

American and Iraqi engineers struggled to boost output amid the violent aftermath of the invasion and U.S. occupation. The industry's big break came in 2009. BP and China National Petroleum Corp. signed a 20-year deal to boost production at Rumaila, one of Iraq's biggest oil fields, in an early bidding round. A year later, the country awarded new contracts to revive and expand several other fields, including the giant Majnoon, which Shell and Malaysia's Petronas are developing jointly.

http://online.wsj.com/news/articles/SB10001424052702304734304579514310330071386?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304734304579514310330071386.html