The proposed Bill, now pending before the U.S. Congress, via its benchmarks, will provide for the privatization of Iraqi oil. It requires the regime in Iraq to pass a law called, "The Hydrocarbon Act." If they refuse to do so over a billion dollars in reconstruction funds will be blocked by the Bush-Cheney administration, he claimed. This measure, which Rep. Kucinich characterized as "blackmail," would permit multinational oil corporations---many based in the U.S.--to exercise control over the Iraqi oil. The Democratic leadership in the Congress is giving its explicit support to this legislative device. Unless the scheme is stopped, Rep. Kucinich predicted, we will be looking at an Iraqi War "going on forever!"
Watch this 7 minute video and you will find that the plan was already formed even BEFORE we invaded. If Washington gets away with this victory, they will continue to grind our soldiers and taxes to a pulp so that they can make more of these "deals". They get rich, we get ripped off.
Think about it.
http://www.informationclearinghouse.info/article17769.htm
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Capt Seaweed, the people without proven oil fields in Iraq are in the Sunni Triangle. The Kurdish North and the Sheite South are the regions where there is oil.
DREAM ON, Typhoon. You mean people like yourself?
The Proposed Petrochemical Bill
When the "Draft Hydrocarbon Law" was finally delivered to the Iraqi Parliament on
February 18, 2007, key provisions had already been leaked and immediately
denounced by the full spectrum of the Iraqi opposition. Taking turns registering
dismay were the majority of the Parliament, a wide range of government officials,
the leadership of major Sunni political parties, the union of oil workers, the Sadrists
-- the most powerful Shia grouping -- and the visible leadership of the insurgency.
All this led to many changes in the law, including the removal of all mention of either
privatization or Production Sharing Contracts, which would have given multinational
oil companies 15-25 years of basically unregulated operational control over Iraqi oil
facilities. The amended version in no way excluded the use of PSAs, but it removed
the explosive designation from the actual wording of the law.
It is worth reviewing the logic of PSAs to understand why the U.S. was so
determined to make them a part of the law, and why many Iraqis were so
ferociously opposed.
Production sharing agreements are generally applied in circumstances where there is a strong possibility that oil exploration will be extremely costly or even fail, and/or where extraction is likely to prove prohibitively expensive. To offset huge and risky investments, the contracting company is guaranteed a proportion of the profits, if and when oil is extracted and sold. In the most common of these agreements, the proportion remains very high until all development costs are amortized, allowing the investing company to recoup its investment expenditures (if oil is found), and then to be rewarded with a larger-than-normal profit margin for the remainder of the contract which, in the Iraqi case, could extend for up to 25 years.
THE ENTIRE ARTICLE : http://www.tomdispatch.com/index.mhtml?pid=192709
As usual you have it bass ackwards, the Kurds, not Kerds, and the Shiites have it, the Sunni's don't.
Ty phoon:
http://www.iraqdevelopmentprogram.org/images/tools/iraqoillaw.pdf
http://www.zmag.org/content/showarticle.cfm?ItemID=12769
It has been mentioned that the Iraqis will not get much money until the initial costs (which will be extremely inflated) are recouped ... it conveniently leaves out that those initial costs are being paid for by American tax money (and the blood of our guys) ... yet it will be the Oil Company's that will pocket any 'payback' ... what a 'system' we live under ... sheesh !