Is the price of freedom Iraq is to pay include loss of control and rights to it's oil?
I recall before Bush invaded Iraq because of WMD and Saddam being so gad darn evil and the Iraquis were begging for help. George said "We hear you and we are coming" to the people of Iraq.
He further said (I know I saw him say it on TV) that in no uncertain terms that Iraq's oil would 1) pay for the war, and 2) belongs to the people of Iraq.
So, why then, does Iraq own it's oil, but will not have after the war any control or rights to it? They are passing a US backed law that foriegn companies that invest in Iraq have unfettered authority to their oil.
I knew Bush was telling the truth when he said over and over again freeing Iraq from a dictator had nothing to do with thier oil.
What do you think?
http://www.handsoffiraqioil.org/
2007-07-31T22:15:07Z
"Licensing contracts of exploration, development and production, form the backbone of this law, hence it is vital to emphasise the role of the Council of Representatives in the approval of such contracts; similar to what is adopted in the rest of the world. It is regrettable to notice that the authority of the council is restricted to the enacting of the law and the approval of international agreements only."
sagacious_ness2007-08-01T00:10:17Z
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I'd say the bottom line is that the US invaded a sovereign nation based upon lies, and is now holding Iraq hostage for their oil. Unless the Iraq Parliament refuses to sign and there has been increased protest for them to refuse. The only one I know of who protested it in our congress was Dennis Kucinich.
For those that say Iraq oil production is controlled by OPEC... it is now, the Iraqi Hydrocarbons Law, more commonly known as the Iraq Oil Law, would mean that Iraq could no longer be a member of OPEC.
The Iraq Oil Law (Highlights): -- Iraq National Oil Company would have exclusive control of only about 17 of Iraq's approximately 80 known oil fields. Remainder controlled by foreign interests. -- Allows foreign interests (mainly US and Britain) to take 50% control of Iraq's oil reserves and takes control away from, thus destabilizes, the Iraq federal central government. -- US oil companies can exercise long-term (30+ year) contracts without approval by the Iraqi Government -- Production Sharing Agreements (PSAs) give foreign firms 70 per cent of the oil revenues to recover their initial investments and subsequently allow them 20 per cent of the profits without any tax or restrictions on the transferring of funds abroad." -- Federal Oil and Gas Council (representatives from the foreign oil companies), not the Iraqi government, will have authority to approve (their own) contracts. -- The Council, not Iraq government, will control production levels, so Iraq cannot be a part of OPEC anymore. -- Foreign companies would not have to invest their earnings in Iraq, hire Iraqi workers, or partner with Iraqi companies." -- The Iraqi government would not have control over oil company operations inside Iraq. Any disputes would be referred instead to pro-industry international arbitration panels. -- No contracts would be public documents
Iraqi "Hydrocarbon Law" - This version passed the Iraq Cabinet, and was referred to the Parliament: http://web.krg.org/uploads/documents/Draft%20Iraq%20Oil%20and%20Gas%20Law%20English__2007_03_09_h17m2s47.pdf
Rape and pillage is what befell under the Saddam regime. the U. S. is there to make confident those issues do no longer ensue in a unfastened Iraq. A vulnerable attempt at perpetuating a left-wing fable. Ain't buyin' it, dude.
OPEC and companies that drill there will have rights to the oil. OPEC decides how much oil is going to be drilled annually, any oil producing nation that's a member of OPEC abides by their terms. And the people investing in drilling the oil have a right to say how it's going to be drilled. Iraq will make money off the oil, but have to play by certain rules in regards to oil. That's just how things work.
We are not going to be the only benefactors of this agreement and even if we were, we gave that country democracy and you would think that those who have been crying in their soup over the cost of that war would be glad to see some of that money being returned to our government and our economy.
http://www.taxfoundation.org/news/show/1168.html
But, no, of course not. It would mean they'd have to admit that this agreement is working out beautifully for us and the Iraqis and that Bush has done and/or isn't doing anything wrong.
Dang, it's almost as if international oil companies know what they are doing, and will use their technology and innovation to bring economic prosperity to the region.
Economics 101 says world capitalism isn't a zero-sum game.