Because, as Patty Smyth put it, sometimes love just ain't enough.

Bechtel pulls out of Iraq

So, Bechtel was hired instead of the Iraqi companies who had successfully rebuilt their country after the previous U.S. invasion. And, since Bechtel's contract guaranteed that all of its costs would be covered, plus a set rate of profit, it took its time, spending its first five months in Iraq doing a countrywide assessment rather than rebuilding. Bechtel then worked on expensive new facilities that showcased its skills and would serve its needs were it to run the systems itself one day (and which have proven far too expensive for Iraqis to run). The Iraqis, meanwhile, knew that the Americans had received billions of dollars for reconstruction, that Iraqi companies had been rejected, and that the country was still without basic services. The result was increasing hostility, acts of sabotage targeted directly at foreign contractors and their work, and a rising insurgency.

In the end, Iraq has not emerged as the wealthy free market haven companies like Bechtel had hoped for, at least not yet (the economic policies put in place by the Bush administration remain and the work is on-going to turn Iraq into a corporate-friendly Middle East Mecca). However, the war has not been completely useless.

One month after the invasion of Iraq, President Bush announced plans for a U.S. Middle East Free Trade Area (MEFTA) to expand his economic vision from Iraq to the rest of the Middle East. The war intensified the pressure on countries to prove that they were with, rather than against, the Unitede States. As a result, the MEFTA has progressed rapidly, with 14 nations signing agreements with the administration.

Bechtel is a member of the U.S. Middle East Free Trade Coalition, the corporate lobbying group behind MEFTA. Thanks to the MEFTA, a new free trade agreement expected to be signed with the United Arab Emirates this year is already opening new opportunities for U.S. firms, including Bechtel. The company was recently hired by the Abu Dhabi Ports Co. of the UAE to manage the construction of a major new industrial zone at the country's Khalifa Port.