http://news.yahoo.com/s/ap/20100608/ap_on_re_mi_ea/ml_iraq_beijing_s_oil_bonanza The link above shows the long term intelligence level of the west. The West puts sanctions on countries so western companies can't do business there. So China, which couldn't care less about sanctions, and, as a veto wielding member of the security council can get it's way, jumps right in to take advantage. What good are sanctions if they only hurt Western companies while they benefit China?
What's 1000 times worse is Americans go die fighting in Iraq so the Iraqis can show their appreciation by awarding business to the Chinese. Screw US 'foreign policy'. I'd never go die for crooked, stupid politicians.
You really think we would let the Iraqis do this? You don't think there was a side deal with China and the US? Who buys our treasuries, and thus, finances our military? Some things can't be spoken of publicly by our politicians. Think about it. We get China to finance the war, this maintains petrodollar recycling which perpetuates the US treasury market, and allows us to have a military base near the world's oil spigots should something "develop" in the future.
Never make the mistake of thinking that the US sent men to fight for the Iraqis. That would be naive and I doubt you are that.