Bill
02-21-2008, 04:40 AM
You know what's really funny - they never specify which oil law is being discussed, see there are two oil laws - one for revenue sharing, that divides the oil profits among the competing Iraqi interests, and one for privatization, that outlaws nationalization of the oil, and wouldk allow long term privatization contracts to be signed.
Except, of course, if it's in the news, you can always assume it's the second oil law, the one that privatizes Iraqs oil and gives it to the waiting corporations.
because only the Iraqis care about the revenue sharing law...
This article seems to suggest that the two laws are connected, but they are not, as anyone who reads about the history of the Iraqi oil law will quickly learn.
http://www.guardian.co.uk/feedarticle?id=7318100
BAGHDAD, Feb 18 (Reuters) - A law that could shape Iraq's future by clearing the way for investment in its oil fields is deadlocked by a battle for control of the reserves and no end to the impasse is in sight, lawmakers and officials say.
The bill is also meant to share revenue equitably from the world's third largest oil reserves, thus helping bridge the deep divides between Iraq's Shi'ites, Sunni Arabs and Kurds.
The one thing all sides agree on is the law is vital to securing foreign investment to boost Iraq's oil output and rebuild its shattered economy after five years of insurgency and sectarian fighting that has killed tens of thousands of people.
But the law remains stalled by bitter rows between Baghdad and the largely autonomous Kurdistan region in the north over who will control the fields and how revenue will be shared.
"Basically we're talking about political will here," said a U.S. official in Baghdad, who asked not to be identified.
"These are not technical issues, it's a question of if they have the political will to reach the kind of compromises both sides need to make to achieve this. There's a lack of trust."
Except, of course, if it's in the news, you can always assume it's the second oil law, the one that privatizes Iraqs oil and gives it to the waiting corporations.
because only the Iraqis care about the revenue sharing law...
This article seems to suggest that the two laws are connected, but they are not, as anyone who reads about the history of the Iraqi oil law will quickly learn.
http://www.guardian.co.uk/feedarticle?id=7318100
BAGHDAD, Feb 18 (Reuters) - A law that could shape Iraq's future by clearing the way for investment in its oil fields is deadlocked by a battle for control of the reserves and no end to the impasse is in sight, lawmakers and officials say.
The bill is also meant to share revenue equitably from the world's third largest oil reserves, thus helping bridge the deep divides between Iraq's Shi'ites, Sunni Arabs and Kurds.
The one thing all sides agree on is the law is vital to securing foreign investment to boost Iraq's oil output and rebuild its shattered economy after five years of insurgency and sectarian fighting that has killed tens of thousands of people.
But the law remains stalled by bitter rows between Baghdad and the largely autonomous Kurdistan region in the north over who will control the fields and how revenue will be shared.
"Basically we're talking about political will here," said a U.S. official in Baghdad, who asked not to be identified.
"These are not technical issues, it's a question of if they have the political will to reach the kind of compromises both sides need to make to achieve this. There's a lack of trust."