Thread: Under the radar; Iraq's oil law draft approved

Iraq prepares to allow foreign firms to exploit its oil and gas riches
By Damien McElroy in Baghdad
Last Updated: 1:18am GMT 27/02/2007


Iraqi leaders yesterday approved a draft law opening the country's oil reserves to foreign investors.

Iraq prepares to allow foreign firms to exploit its oil and gas riches | International News | News | Telegraph

Think the worst about the invasion- and it's all true.

I fail to see what the big friggin deal is here.

I may be writing more on this later, if I have the stomach for it, but read through the above New York Times report on the new oil law approved by the Iraqi government – and gasp in shock-and-awed wonder that the leading newspaper in the United States could file a story like this and only note – in the next-to-last paragraph – that Iraq's oil will controlled by the iron fist of a "central body called the Federal Oil and Gas Council" which will have "a panel of oil experts from inside and outside Iraq" as part of the operation… without telling us that these "oil experts" will in fact be executives and representatives of American and other Western oil companies

http://www.uspoliticsonline.com/war-...le-begins.html

Well, the last thing I want to see in Iraq is anybody, anybody at all, other than Iraqis profiting from their natural resources. In particular, I'd also be 'sick to the stomach' if any profits went to anybody associated with Bushy.

I take it you aren't a fan of Capitalism?

So, one of the benchmarks of America staying in Iraq is that the Shia controlled gov't has to sell it's oil to foreign interests. I get that, but since the Kurds control half the oil and the Sunnis hate the Shias, that won't make for conflict will it? Hmmm.

Originally Posted by moon

Think the worst about the invasion- and it's all true.

How many times have we "peaceniks" proven right by now? We were right about WMD, we were right about post-war planning, we were right about insurgency, about terrorism, human rights abuse, corruption, and now we are proven right on the oil-issue.

Yeah, the Iraqis have shown they are perfectly capable of handling their oil on their own.

EDIT: Also, if this was all about oil, why hasn't this been done sooner? And why isn't America the only nation that gets control? The whole war for oil argument simply does not stand up.

The whole war for oil argument simply does not stand up.

Not entirely, until today. Now it does.

Halliburton has some of the biggest contracts of them all, so if this was never about oil than why are they there? The goodness of their hearts? This makes the oil for food scandal look petty.

Originally Posted by moon

Not entirely, until today. Now it does.

No it doesn't. Iraq is opening up their oil to the foreign market, not just the American market. If we, America, went into Iraq simply for oil wouldn't it make more sense for us to have total rights to their oil?