They’ve got oil? Since when?

MSNBC’s Special Duh Correspondent John W. Schoen reports that Iraq has oil that US oil companies covet.

So far, U.S. oil companies have been stuck on the sidelines of the Iraqi oil rush. Even if Saddam wanted to enlist U.S. firms in the rebuilding of Iraq’s oil infrastructure, U.N. sanctions — as well as U.S. laws — have barred American oil companies from dealing with Baghdad.

But some analysts say it’s unlikely that American firms will be left empty-handed if the U.S. follows through on threats of military action.

“If you turn up and it’s your tanks that dislodged the regime and you have 50,000 troops in the country and they’re in your tanks, then you’re going to get the best deals,” said Credit Suisse First Boston oil analyst Mark Flannery. “That’s the way it works. The French will have three men and a 1950s tank. That’s just not going to work.”

Next week Schoen beats Matt Drudge to the punch and reports that Jennifer Lopez “kinda likes all the attention she gets”.