Kerry & Schumer want Iraq oil contracts stopped until Oil Theft Law is in place

[yurbud]

Either these guys are retarded or they are corrupt with solid brass balls.

The Iraqis are holding up the Hydrocarbon Law not because of the division of income between Iraqi ethnic groups but because of the paltry share of their own oil revenue the US drafted law gives all Iraqis compared (12%) compared to the big oil companies. Other countries with easily accessible oil wouldn't accept terms like that unless they had a gun to their head. Iraq does, and their parliament still won't sign, knowing they could never walk among their own people and live if they did.

http://professorsmartass.blogspot.com/2007/06/iraqis-come-to-us-to-protest-oil-theft.html">Iraqi oil workers, scholars, former bureaucrats, and even average Iraqis oppose the corporate domination model imposed by the law.

By contrast, the short term contracts recently awarded were service contracts which means they are doing a job for the Iraqis, not sharing in the profits. That is the way it should be. That is the way it should be HERE.

The oil companies are parasites, sucking the wealth from under our land as well, giving us next to nothing for it, and then demanding tax breaks and wars to seize more oil fields.

I agree with that climate scientist who said the http://www.commondreams.org/archive/2008/06/23/9816/">oil company execs should be tried for crimes against humanity. What they have done to us and the Iraqis and are still trying to do to the Iraqis should be added to the indictment.

John Kerry and Chuck Schumer should either do their homework and stand up for the Iraqis against big oil, which might reduce resentment toward our troops and save some lives, or they should sit down down and shut the fuck up. They could even retire early and go collect their seven figure salaries sitting on boards of directors of oil companies like Sann Nunn, and others who leave ''public service'' which should more appropriately be called ''public servicing the rich.''

The Democrats are better than the Republicans, but only when graded on a curve, and not when they shamelessly pistol-whip Iraq like a robber mad at his victim for not getting the money out of his pockets fast enough.

Senators seek to block Iraq oil contracts
Sens. Schumer and Kerry appeal to Bush administration to stop no-bid deals with big companies until equal royalty distribution is guaranteed.


NEW YORK (CNNMoney.com) -- Two U.S. senators asked the Bush administration Tuesday to stop the Iraqi government from signing imminent no-bid contracts with several U.S. and European oil companies, expressing concern about the distribution of royalties from the deal.

Sen. Charles Schumer, D-N.Y., and Sen. John Kerry, D-Mass., sent a letter to Secretary of State Condoleezza Rice expressing concerns about a contract that the Iraqi government is preparing to sign with Exxon Mobil Corp., (XOM, Fortune 500) Royal Dutch Shell (RDSA), Total SA (TOT), Chevron Corp (CVX, Fortune 500)., BP (BP) and other companies. The contract would let those companies develop Iraq's largest oil fields.

The senators, who released the letter, said they are worried that unfair distribution of oil revenue could inflame the violence between the warring religious and political groups of Iraq.

"We urge you to persuade the to refrain from signing contracts with multinational oil companies until a hydrocarbon law is in effect in Iraq," read the letter from Schumer and Kerry.

http://money.cnn.com/2008/06/24/news/economy/iraq_oil/?postversion=2008062411">FULL TEXT

http://www.bushagenda.net/article.php?id=369|BACKGROUND ON THE OIL THEFT LAW>

http://professorsmartass.blogspot.com/2007/03/oil-too-cheap-if-no-iraq-war-says-oil.html|Iraq War to keep oil prices HIGH>

[Old and In the Way]

1. I wonder what threats are on Maliki's head to sign these contracts?

No sane politician in Iraq would given 805+ of the oil products to the oil companies. In spite of Saddam's own personal corruption, nationalized oil revenue actually gave the Iraqi people the highest per capita standard of living and a relatively prosperous, secular society in the 80's. Too bad we killed moderation in the ME.

[yurbud]

3. Bush threatened to remove his protection:

http://professorsmartass.blogspot.com/2007/03/iraqi-prime-minister-bush-will-fire-me.html

[stillcool]

8. It always seems that when the Iraqi ...

government is being pressured to 'do the right thing', the drumbeats for war with Iran kick up a notch.

[robinlynne]

12. which is why saddam had to go...

[eridani]

2. Well, good for both of them

Glad to see that Schumer is on the side of the angels this time. Just goes to show that even the Dems who piss us off a lot do the right thing some of the time, which is more than you can say for Repubs.

[yurbud]

4. this isn't good. The Hydrocarbon Law forces Iraqis to give away the store

[eridani]

5. Wait--is this not against the oil sell-off? What did I miss? n/t

[yurbud]

7. the current contracts being awarded are under the old nationalized system.

oddly, the oil companies jumped ahead of the hydrocarbon law to get something, so they are playing good cop, bad cop with the Iraqis, with big oil being the good cop and Kerry & Schumer the bad cops.

[stillcool]

10. but there is no law..

which is the point. The Iraqi government can't pass an oil law that is favorable to the oil companies and stay alive. Kerry and Schumer want the no-bid contracts to be halted, until the Iraqi government comes up with an oil law that creates equal distribution of oil among the various factions in Iraq. That's what everyone's fighting for, no?

[spanone]

6. the bu$h* gift that keeps giving to big oil ...no bid contracts......thank you senators

[stillcool]

9. Edit for confusion...

Are you saying there is something wrong with Kerry and Schumer's request? What is wrong about trying to stop these oil companies from skirting the law and getting their foot in the door?

http://english.aljazeera.net/programmes/insideiraq/2008/06/2008620145420472566.html
Iraq's controversial oil law


Iraq is pushing ahead with a controversial oil law which critics say threatens to hand over the country's resources to foreign-owned companies, throwing the country into further sectarian chaos.

The Iraqi government is reportedly finalising oil exploratory deals by July even before the law is passed in parliament.


Opponents say the new hydro-carbon law will split Iraq into several federal states, each with control of their own oil resources rather than being dependent on the central government in Baghdad.

However, the al-Maliki government insists the law is a way to share oil wealth among Iraq's regions and religious factions.

They say the law should be enacted quickly in order to pave the way for international oil companies to start investing in the dilapidated and war-hit Iraqi oil sector.

Six More Firms Qualify For Iraq's Oil Contracts

(RTTNews) - The Iraqi oil ministry announced Sunday that six more foreign state-owned oil companies have qualified to bid tenders to develop oil and gas fields in Iraq, Xinhua news agency reported. The new oil firms are from Algeria, Angola, Pakistan, Thailand, Turkey and Vietnam.

With this, a total of 41 foreign oil firms have so far qualified to participate in Iraq's upcoming licensing round for oil-and-gas contracts. The ministry will soon sign deals with these companies to bid for the contracts in all regions of Iraq.

In April, 35 companies out of the 120 applicants around the world qualified for the tenders in accordance with the terms and conditions stipulated by the Iraqi Oil Ministry in January. The Iraqi oil ministry asked international oil companies to register themselves with the newly set-up Contracts and Licensing Office of the ministry, and set February 18 deadline for receiving registration documentation.

Iraq, holding the world's third-largest oil reserves, needs billions of dollars in investment for a massive overhaul of its oil industry infrastructure and increase oil and gas output after 13 years of sanctions and war.

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080623%5cACQRTT200806230630RTTRADERUSEQUITY_0234.htm&&mypage=newsheadlines&title=Six%20More%20Firms%20Qualify%20For%20Iraq\'s%20Oil%20Contracts

[yurbud]

11. the al Jazeera story has it right. The Hydrocarbon Law is meant to be legalized theft