Really, we could complain that what we did to the native Americans was wrong, too. We've done the damage and really need to work on reforming US government. If Iraq wants the help of western companies, there probably isn't anything wrong with that. Regulating that with US government seems to be continuing down the wrong path.
They had best be wary. As soon as our troops leave, they may get nationalized again. Venezuela is also a democracy, but they just nationalized their oil industry.
Well, you should care. American corporations are among the companies that are getting their fields, pipelines, and refineries stolen by the Venezuelan government.
Doing business in a foreign land is subject to foreign laws. We can't impose our idea of what is right on foreign lands. There probably is some room for international law, but I think we should be cautious because of the expense of foreign affairs, both in dollars and the indirect cost to domestic programs. The more we spend abroad, the less we spend at home.