US wants new Iraq oil law so foreign firms can take part

[Barrett808]

US wants new Iraq oil law so foreign firms can take part
by Jay Deshmukh

BAGHDAD (AFP) - The United States urged Iraq to adopt a new hydrocarbon law that would enable US and other foreign companies to invest in the war-torn country's oil sector.

Iraq, which has had decades of socialist economy, must "pass a new law, a new hydrocarbon law under which international companies will be able to make investments in Iraq," said US Energy Secretary Samuel Bodman during a visit to Baghdad.

Bodman said a liberalized hydrocarbon sector would help Iraq realize "its very considerable potential with the benefit of investments from international community."

The US official, who met Iraqi leaders including premier Nuri al-Maliki and oil and electricity ministers, said the Iraqis had shown enthusiasm for such a law.

"Each of them were optimistic of passing that law by the parliament and they hope to pass such a law by end of this calendar year," Bodman told reporters.

(more)

http://news.yahoo.com/s/afp/20060718/pl_afp/iraqusoil

[acmavm]

1. So they call it 'making investments' now. In the old days they

used to call it theft.

[sinkingfeeling]

2. So the neo-con's Plan B isn't dead after all.

[mom cat]

10. That was my thought too. I wonder if there has been a power

shiftbetween the neo-cons and big oil?

[Tempest]

3. Two points

1) Iraq's oil industry was not "socialist". Before the war, Iraq's oil industry was open to foreign companies, just not U.S. companies because of the sanctions.

2) Name one country where foreigners have gone in and "developed" oil reserves and the people of the country have benefited. And I'm not talking about benefiting a small minority of the country either.

[jimshoes]

4. If stealing it outright proves to be too difficult

have the Iraqi's pass a law making it legal to swipe it. Good plan.

[TrogL]

5. AHA!!! So this IS an oil war after all

A lot of those sites are already spoken for.

When the US invaded, they made a beeline for the Oil Ministry so they could secure the contract records. Those contracts will be voided and fresh ones made up favoring US companies.

This is US economic warfare against the rest of the world.

[Roland99]

6. Iraq must "pass a new law"? MUST?!

:mad:

[denverbill]

7. I'd bet $100 that this was part of Cheney's energy policy meeting in 2001.

'Energy policy' to Cheney and his oil baron cronies has nothing to do with the good of America or the good of other populations of other countries. It's all about oil company profits and personal greed.

It's no coincidence the Hugo Chavez suddenly became public enemy #1 when he put the brakes on privatizing the Venezualan state oil company and started slapping higher tariffs on oil exports.

Tariffs take money directly out of the oil companies profits, and don't even hurt consumers, because oil companies can't pass on the cost increase.

Privatization is also the carrot the Vincente Fox is dangling in front of Shrubby if the US passes immigration reform.

I'm an agnostic, but I do truly hope there is a God and an after-life so that these bastards eventually have to pay for the death and destruction being perpetrated for their own personal enrichment.

[Wwagsthedog]

8. Let's change the title of this topic to...

..."US wants new Iraq oil law so US firms can take ALL"...

[rocktivity]

9. "Urged" Iraq? What kind of a way is that to talk to a soverign nation?

:eyes:
rocknation

[unlawflcombatnt]

11. Thanks for the post

This certainly removes any doubt about the Bush dictatorship's real reason for invading Iraq. The only "freedom" we're spreading is the "freedom" of Corporate America to profiteer off other nations resources and labor.

Our foreign policy is all about stealing oil and exploiting cheap foreign labor.

unlawflcombatnt

EconomicPopulistCommentary

EconomicPatriotForum

___________
The economy needs balance between the "means of production" & "means of consumption."

[Canuckistanian]

12. I say take it to the people

This is a very important issue to Iraqis. Let them make an election issue out of this "debate".

[KamaAina]

13. Otherwise, what was the point of going in there in the first place?

:sarcasm:

[VegasWolf]

14. Did anyone seriously ever believe that all this death and destruction in

Iraq was for ANY other purpose than securing Bush's, err Iraq's, oil.