Analysis: Kurds the winner in Iraq oil law

[maddezmom]

Analysis: Kurds the winner in Iraq oil law
By BEN LANDO
UPI Energy Correspondent
WASHINGTON, Feb. 27 (UPI) -- After nearly a year of negotiations, deadlocked on crucial issues of revenue sharing and control of oil fields, the Kurds seemed to have gotten what they wanted from Iraq's central government in the hydrocarbon law approved by the Iraqi Cabinet Monday.

The passage appears to have ended, at least for now, the most difficult phase of creating and passing legislation aimed at governing all of Iraq's vast oil and natural gas reserves.

The Iraqi Parliament still needs to approve the hydrocarbon law, backed by the majority Shiites, which is likely now that the Kurdistan Regional Government has endorsed it.

Oil production is struggling in Iraq. Daily production last month averaged nearly a million barrels below the pre-war levels of 2.6 million barrels per day. Passage of the law is seen as the first step to the more than $20 billion of investment the sector needs.

more:http://www.upi.com/Energy/view.php?StoryID=20070227-055741-5979r


Looks like Condi was wrong once again

US Secretary of State: Kurds have no authority over oil in their region
Posted by maddezmom in Latest Breaking News
Fri Jan 12th 2007, 06:05 AM
London (KurdishMedia.com) 12 January 2007: U.S. Secretary of State Condoleezza Rice stated that Kurds do not have the right over oil in their areas, Reuters reported on Thursday.

On the issue of the ownership of oil Reuters stated, “Ethnic Kurds whose region includes the country's northern oil fields including the giant Kirkuk field have signed some contracts with foreign oil companies, spurring confusion over who has the authority to ink contracts.”

Rice said the oil law would not give the Kurds such authority.

"Even though the Kurds might have been expected ... to insist that they will simply control all the resources themselves, that's not what the oil law does," Rice said.

Rice predicted what would be in the Iraqi oil law. She was not asked how she knew what is in the law that is not yet written.
more:http://www.kurdmedia.com/news.asp?id=13878


Senators bemoan lack of Iraq oil law progress
~snip~
The contract issue is vital to Iraq's future as a solution favoring the regions would devolve power over its most valuable resource to the majority Shi'ites and the Kurds whose regions are home to the country's most coveted oil fields.

Minority Sunni Arabs, dominant under Saddam Hussein before the U.S.-led invasion in 2003, fear regional devolution will leave them with nothing.

Ethnic Kurds whose region includes the country's northern oil fields including the giant Kirkuk field have signed some contracts with foreign oil companies, spurring confusion over who has the authority to ink contracts.

Rice said the oil law would not give the Kurds such authority.

"Even though the Kurds might have been expected ... to insist that they will simply control all the resources themselves, that's not what the oil law does," Rice said.

http://news.yahoo.com/s/nm/20070111/pl_nm/...
http://journals.democraticunderground.com/maddezmom/99

[Old and In the Way]

1. Kurds will be a winner as long as they don't think they really own the resource.

That's what got Saddam into trouble. I'm sure Condi and Dick have spent a great deal of time on oil diplomacy.

[acmavm]

2. Do you think that the Shi'ites and the Sunnis are going to let the Kurd's

(even if it's just on paper) have control of the largest oil fields in the country?

Somehow I don't. I don't think this whole partioning of the oil fields is going to work at all.

[Old and In the Way]

4. No, not at all. It won't work.

Just because Big Oil gets the current Iraqi government to privitize the oil assets doesn't mean that they'll actually get oil. I suspect that there will be no significant oil coming from Iraq as long as this is the case. I fully expect "terrorism" to keep blowing up pipelines and infrastructure to impede the flow of oil out of the country.

This is another RW wishful fantasy, just like thinking the Iraqi's would greet us with flowers and that the future generations would sing songs commemorating our invasion, occupation, and looting of their primary resource.

[maddezmom]

3. from Mother Jones:Mother Jones: Iraq's new oil deal -- the real power remains in the hands of intern

Thanks to sabra for posting in GD. :)

Mother Jones: Iraq's new oil deal -- the real power remains in the hands of international companies

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=315716&mesg_id=315716