While We Were All Yelling At Each Other, Iraq's Cabinet Passed an Oil Law

[NashVegas]

The new oil law gives foreign corporations access to almost every sector of Iraq's oil and natural-gas industry. This includes service contracts on existing fields that are already being developed and that are managed and operated by the Iraqi National Oil Co (INOC).

For fields that have already been discovered, but not yet developed, the proposed law stipulates that INOC will have to be a partner on these contracts. But for as-yet-undiscovered fields, neither INOC nor private Iraqi companies receive preference in new exploration and development. Foreign companies have full access to these contracts.

The exploration and production contracts give firms exclusive control of fields for up to 35 years, including contracts that guarantee profits for 25 years. A foreign company, if hired, is not required to partner with an Iraqi company or reinvest any of its money in the Iraqi economy. It's not obligated to hire Iraqi workers, train Iraqi workers or transfer technology.

http://www.atimes.com/atimes/Middle_East/IB28Ak02.html

Mission accomplished!

[zanne]

1. I think we noticed it; we just aren't surprised. nt

[Oceansaway]

2. exactly....

and once they revalue their IQD (Iraqi Dinar), alot of investers will become mega wealthy...i read awhile back that Dick-head Cheney invested $75.000 USD (US Dollars) and bought 75 Million dollars worth of IQD....if it revals to what it used to be before the invasion, its a total goldmine....

[Jacobin]

3. Its about as meaningful as DU 'passing a resolution'

The Iraqi 'government' is not in control of Iraq. The government offices and its 'elected officials' live in Green Zones isolated from and detached from the country they pretend to govern.

I'm expecting them to pass a law against gravity next.

[NashVegas]

6. Except No One is Going to Threaten DU With Military If We Renegged Once the Coast Was Clear

We've got our little law, and if it should pass the full assembly, we'll cling to it and we'll make sure the UN does, too.

[peace13]

4. Hence the increase in violence? n/t

[WiseButAngrySara]

5. Disgustingly predictable. Does this tie in to Cheney's trip?

Remember what he was doing when Katrina was devasting NOLA? Securing pipelines or something...

Mission Accomplished indeed. How much blood for oil Dick of Death Cheney?

[NashVegas]

7. No Idea

But it's interesting that the very next day, Maliki scooted over to Jordan, while someone tried to blow up Iraq's #2 guy.

[WiseButAngrySara]

8. Both VP's targeted! That is peculiar. ....n/t

[coalition_unwilling]

9. As Stalin once said of the Pope, how many divisions do they (the

Iraqi government) command? The disposition of Iraq's oil resources will be decided by the Iraqi Resistance, not by the puppet Quisling government installed and propped up by Western imperialists.