Al-Ghad is publishing the full text of the draft Law of Oil & Gas which has been kept away from Iraqi and international public opinion. This will make possible an objective evaluation of this major project and its possible far reaching consequences for the Iraqi people and the world oil industry. We have already published an extensive analysis of the previous draft, by a prominent oil expert, and we are in the process of publishing an update by the same writer, we see no need to introduce this important document.
http://www.al-ghad.org/2007/02/14/exclusive-the-official-draft-of-the-oil-and-gas-law-of-the-iraq-republic-15-jan-2007/Please feel free to widely distribute this document. It's important to start a stronger debate and to try to educate Iraqis and Americans about this catastrophic law that will facilitate the further looting of Iraqi oil, and will achieve nothing other than increasing the levels of violence and anger in Iraq.
This law legalizes PSAs (production sharing agreements) in Iraq. Iraq will be the only country in the middle east with such contracts privatising Iraqi oil and giving foreign companies crazy rates of profit that may reach to more than three fourth of the general revenue. Iraq and Iraqis need every Dinar that comes from oil sales. In addition to the financial aspects of this law, it can be considered the funding tool for splitting Iraq into three states. It undermines the central government and distributes oil revenues directly to the three regions, which sets the foundations for what Iraq's enemies are trying to achieve in terms of establishing three independent states.
http://raedinthemiddle.blogspot.com/search/label/Iraqi%20Oil%20LawThe secrecy and attempts to pass the law as if it were any other ordinary bill not only do they stir bafflement, they also invoke questions about what could be hatched in the dark and could place officials under huge and legitimate doubts.
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When we talk of increasing production rate, we must dwell on the talks held before the invasion between the U.S. State Department and Iraqi and international experts. International newspapers demonstrated indications for U.S. plans to take over the Iraqi oil, destroy the OPEC and breach the OPEC's so-called Price "Monopolizing" Policy. One of those indications is a statement made by Archie Dunham, CEO of the oil giant Conco Philips, before the invasion, "we know where the best oil fields are located; we wish to lay our hands on some of them."
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The oil companies lobby in the United States is so influential that could mobilize governments against any demands made by a democratic Iraqi government to make changes to contracts that could serve the Iraqi interests. With such conditions, Iraq will always have problems with the US, undergo threats of war, boycotts or rifts, because we are living in the epicenter of the restive Middle East. Reading Daniel Yergin's book "The Prize" gives an idea of what U.S. oil companies could do. They actually run after the giant oil fields that we think should be run by the Iraqi government. They will do whatever it takes to make sure the foreign investment law applies to giant oil fields. The U.S. administration is so weak and constantly tries to avoid any accusations over oil as their only motivation for waging the war in Iraq.
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Controlling oil is the reason behind the occupation and the U.S. presence in the region. The United States of America cannot consider Iraq an official colony so that it can go right ahead with investing. That is why it wanted Iraqis to come up with a law that could abolish all the previous nationalizing laws, which had not been enacted without counter imperialism deadly struggles. Since the early days of the invasion to this day, America has not been able to lull Iraqis, even their staunchest allies who were in favour of privatizing the oil sector, into doing so.
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The U.S. policy has failed in Iraq. Though they succeeded in destroying Iraq and driving a wedge between its countrymen, their power was not strong enough to apply their imperialistic schemes. Now they found themselves forced to find an "honourable" exist strategy from Iraq that could "save their face". The U.S. Administration believes that it is the right time to pass the oil bill. They do not have enough time to wait, particularly with the domestic U.S. pressures, whether the Democrats win the mid term elections (only because of Iraq) or because a lot of Republicans abandoned the Bush policy, which has tarnished America's reputation.
The above was taken from:
UPDATE: click here to download a very important analysis by Mr. Al-Ameer translated by me]
located at:
http://raedinthemiddle.blogspot.com/search/label/Iraqi%20Oil%20Law
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