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Subject: A good read on why Iraq will be a guaranteed loss (authors view)-
Herc the Merc    3/22/2007 2:01:00 PM
I think the summary is the big oil companies want a sweet oil deal which will guarantee to keep an insurgency alive ie u can't have your oil and drink it too. _____________________________________ The rape of Iraq's oil The Baghdad government has caved in to a damaging plan that will enrich western companies. Michael Meacher Articles Latest Show all Profile All Michael Meacher articles About Webfeeds March 22, 2007 1:30 PM | Printable version The recent cabinet agreement in Baghdad on the new draft oil law was hailed as a landmark deal bringing together the warring factions in the allocation of the country's oil wealth. What was concealed was that this is being forced through by relentless pressure from the US and will sow the seeds of intense future conflict, with serious knock-on impacts on the world economy. The draft law, now before the Iraqi parliament, sets up "production sharing partnerships" to allow the US and British oil majors to extract Iraqi oil for up to 30 years. While Iraq would retain legal ownership of its oil, companies like Exxon, Chevron, Shell and BP that invest in the infrastructure and refineries would get a large share of the profits. No other Middle Eastern oil producer has ever offered such a hugely lucrative concession to the big oil companies, since Opec has always run its oil business through tightly-controlled state companies. Only Iraq in its present dire condition, dependent on US troops for the survival of the government, lacks the bargaining capacity to resist. This is not a new plan. According to documents obtained from the US State Department by BBC Newsnight under the US Freedom of Information Act, the US oil industry plan drafted early in 2001 for takeover of the Iraqi oilfields (after the removal of Saddam) was pushed aside by a secret plan, drafted just before the invasion in 2003, calling for the sell-off of all of Iraq's oilfields. Read more at the link commentisfree.guardian.co.uk/michael_meacher/2007/03/the_recent_cabinet_agreement_i.html
 
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shek       3/22/2007 3:13:38 PM
Actually, the redevelopment of Iraq's oil infrastructure will allow for more money for Iraq and the ability to spread the wealth a little bit further than it is now (that isn't to say that corruption won't skim off a fair portion of it).  Furthermore, an oil revenue sharing plan will help to allay Sunni fears of being shut out of the resource game since they don't have oil fields in any potential "Sunnistan."  Additionally, such a deal is also based on a single Iraq, which is strong component of Sunni national identity.  So, such a deal is critical for the long-term benefit of Iraq, and the deal clears one of the many major obstacles facing the current government.
 
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