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/Is the price of freedom Iraq is to pay include loss of control and rights to it's oil?
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/Dra鈥?/a>Is the price of freedom Iraq is to pay include loss of control and rights to it's oil?
Just a little bias.. I'm a Libertarian (pro-individual rights; pro-free market economy). However, free-market economy does NOT mean 'if you can steal it, it's free'! Unfortunately, most seem to view it as the 'ends justifying the means'. Thank you for standing out from that mindset! ~~Cheers!
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You should get your info from a better source - not one named 'handsoffiraqoil.' Couldn't you see the obvious bias before you even went there?
This is not the egregious action many are making it out to be.
http://www.economist.com/world/africa/di鈥?/a>
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/1鈥?/a>
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.
One thing is for certain that, Iraq is finished! and US will make sure and secure that, the Iraqis OIL will be managed, controlled and consumed by Americans till its last drop.
Well, I'll let you know when we actually start taking the oil.
So far, the prices aren't reflecting any ';freebies'; lately.
That US-backed law you speak of doesn't exist, unless you can prove otherwise... no-one else seems to be able to.
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.
i think you are making a statement and think you are being subtle...you are more than obvious.
what benefit did the average Iraqi receive under Saddam's regime? it went into his pockets for his castles and play toys, and for those of his kids ,those insane sons, who raped and pillaged, tortured and killed at will...Saddam killed thousands of his own people...and lest we forget, foreign terrorist are killing more innocents Iraqis than any one else.
they will have more control of their oil their after war than they ever did before the war.
Oil should not belong to anyone.It should belong to everyone!
Of course there should be laws to control it's use,%26amp; payment for transport,but claiming it for one's personal property is wrong,unless it is on your personal property like your backyard!
Man I hate questions that are too deep and technical.
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.
Yes is are and the was is questioned? I neither and so much. You so ok? There backwards speak so learn.
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