Iraqi Oil

[Echewta]

Has been in the country or "states" hands since the early 70s and contributes somewhere near 80-95 percent of the governments income, from what I've read and heard. Similiar to the other oil producing countries in the Middle East.

Apparently there is a new oil bill floating around Iraq that would break the nationalization of the oil industry and allow third parties to come in, explore and pump oil for up to 30 years (i.e. forever). Apparently the oil companies share of Iraq oil profits is higher than usual in the bill. The bill was mostly written by U.S., U.K., and western companies. I heard on the radio yesterday than when some of the MPs in Iraq were asked about the bill, they didn't know anything about it since it has been written behind closed doors etc.

I doubt this will get that much mainstream press but hey, this wasn't about the oil.

"The oil of the Iraqi people belongs to the Iraqi people; it is their wealth, it will be used for their benefit. So we did not do it for oil." -- Collen Powell

[Schmeltz]

If I ran an oil company I wouldn't touch that country with a ten-foot pole. It's just too chaotic and bloody. All you need is a car bomb to take out a few of your employees on their way to work and you've got a giant morale and PR problem on your hands. Not to mention the security investments you'd have to make to ward off the constant insurgent attacks on your production and infrastructure. Are they going to have American troops stationed around the wells and pipelines or are these companies going to hire more private contractor muscle to ensure the safety of their employees and equipment?

[kaiser soze]

great now Iraq will be further raped, the oil they have should help pay to rebuild and stabilize

I thought bush said a couple months ago that the U.S. needs to break it's dependency on foreign oil....so why are we bothering with this?

when you hear him speak expect the opposite

[D_Raay]

http://www.unobserver.com/index.php?pagina=layout4.php&id=3038&blz=1

[Echewta]

This is so funny.

[drizl]

great now Iraq will be further raped, the oil they have should help pay to rebuild and stabilize

I thought bush said a couple months ago that the U.S. needs to break it's dependency on foreign oil....so why are we bothering with this?

when you hear him speak expect the opposite


oil is only a small part of the greater agenda. PNAC.

[drizl]

Has been in the country or "states" hands since the early 70s and contributes somewhere near 80-95 percent of the governments income, from what I've read and heard. Similiar to the other oil producing countries in the Middle East.

Apparently there is a new oil bill floating around Iraq that would break the nationalization of the oil industry and allow third parties to come in, explore and pump oil for up to 30 years (i.e. forever). Apparently the oil companies share of Iraq oil profits is higher than usual in the bill. The bill was mostly written by U.S., U.K., and western companies. I heard on the radio yesterday than when some of the MPs in Iraq were asked about the bill, they didn't know anything about it since it has been written behind closed doors etc.

I doubt this will get that much mainstream press but hey, this wasn't about the oil.

"The oil of the Iraqi people belongs to the Iraqi people; it is their wealth, it will be used for their benefit. So we did not do it for oil." -- Collen Powell


i remember some talk of iraqi oil being used to rebuild the country. lol