Dem. Now!: New Iraq Oil Law To Open Iraq's Oil Reserves to Western Companies

[babylonsister]

http://www.democracynow.org/article.pl?sid=07/02/20/1523250

Tuesday, February 20th, 2007
New Iraq Oil Law To Open Iraq's Oil Reserves to Western Companies

The Iraqi blogger Raed Jarrar has obtained a copy of the proposed oil law and has just translated it into English. He discusses the new law with Antonia Juhasz, author of "The Bush Agenda: Invading the World One Economy at a Time.” In one of the first studies of Iraqi public opinion after the US-led invasion of March 2003, the polling firm Gallup asked Iraqis their thoughts on the Bush administration’s motives for going to war. One percent of Iraqis said they believed the motive was to establish democracy. Slightly more – five percent – said to assist the Iraqi people. But far in the lead was the answer that got 43 percent - “to rob Iraq”s oil.”

Well, with the four-year mark of the Iraq war less than a month away, the answer may come into clearer view. After a long negotiation process involving US officials, the Iraqi government is considering a new oil law that would establish a framework for managing the third-largest oil reserves in the world.

What would this new law mean for Iraq? With me now from Washington DC is Raed Jarrar - He is the Iraq Project Director for Global Exchange. He has obtained a copy of the proposed oil law which he translated from Arabic and posted on his website. And Antonia Juhasz is on the phone with us -- She has written extensively about the economic side of the US occupation of Iraq and is the author of the book, “The Bush Agenda: Invading the World One Economy at a Time.” Antonia is a Tarbell Fellow at Oil Change International. We welcome you both to Democracy Now!

* Raed Jarrar Iraq Project Director for Global Exchange. He is an Iraqi blogger and architect. He runs a popular blog called "Raed in the Middle."

* Antonia Juhasz, author and activist. She is a Tarbell Fellow at Oil Change International. Her latest book is called "The Bush Agenda: Invading the World, One Econony at a Time."

[bullimiami]

1. Anyone want to take bets that this wasnt drafted in Cheneys 'Energy Meetings'

where they were drooling over the Iraq oil field maps.

NEW law my ass.

[babylonsister]

2. This has probably been the plan all along, I'm thinking. I hope Amy Goodman

gets to that point, and also hope it's somehow proveable.

[rodeodance]

6. Bremner set the groudwork for capitalism, privatization (ENTER Western

companies)when he was there. "little America"

[bullimiami]

8. It used to be called plundering.

[sinkingfeeling]

3. This 'privatization' has been in the works since the invasion. It was one of

Bremer's and the CPA's goals. Unfortunately, they weren't able to make it happen before the return of 'sovereignty' to Iraq. But it's always good to have 'your men' in control, so the US has been pushing for this ever since. One of the reasons Bush&co. wouldn't even begin to consider reducing troops in Iraq, is that we couldn't 'retreat' until the oil companies got their cut.

[IWantAChange]

4. Iraq oil reserves just too big for anything but greed to be in control

on the one hand you have two oilmen in the White House - on the other you have an estimated 400 billion barrels of oil reserves in Iraq (Global Policy Forum estimats 2004)-talk about a recipe for disaster.

[babylonsister]

5. Iraqis DON'T KNOW about this law yet? Wait til that shit hits the fan.

If anyone thinks they aren't happy now, stand by.

[bigtree]

7. 'new law'

this exposure should muck it up a bit

[NI4NI]

9. Initial reports claimed last month

that the western oil companies would be taking 70% of the gross oil revenues until such time that they recoup ALL their capital investment for building new facilities, drilling new fields, laying pipelines, etc.

I can smell their fiscal books cookin' right now.

The article reported that the "government" will get the remaining 30%.

The average Iraqi citizen won't see a dime of that 30%, but shitbags like Ahmed Chalabi will.

I wonder who will be guarding the oil companies investmnt? American military? Iraqi soldiers? Or private mercenaries making a bundle of money surely to be included in that 70%.

[welshTerrier2]

10. thanks so much, babylonsister.

you get today's gold star!

i'll check out the link. they usually have a link on Dem. Now that you can click to watch the segment too.

k&r ...

[babylonsister]

11. You're quite welcome! Another downer of a story from today, I'm afraid. nt