Finally: Getting Iraq's Oil
POSTED BY: SignyM
UPDATED: Sunday, August 16, 2026 22:48
VIEWED: 6718
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Cheney finally gets to check off one of the items on his Energy Task Force To-Do List: “open up areas of their {Middle East} energy sectors to foreign investment.” Iraq's oil resources have been under negotiation since we invaded. It was easy to see which way the "negotiations" would trend by looking at Paul Bremmer's CPA orders, which included:
Privatization of Iraqs 200 state-owned enterprises ,100% foreign ownership of Iraqi businesses, national treatment of foreign firms,
unrestricted, tax-free remittance of all profits and other funds, 40-year ownership licenses.
Suspension of all tariffs, customs duties, import taxes, licensing fees and similar surcharges for goods entering or leaving Iraq, and all other trade restrictions that may apply to such goods.
Full immunity from Iraq's laws for foreign contractors, including security contractors.
Prohibition of Iraqi farmers from saving heirloom seeds.
But the third rail that nobody would touch until now has been the Iraq's oil fields. Various privatization proposals including Production Sharing Agreements (PSAs) were floated and rejected because of the furor they set off in Iraq. But the Bush administration has been pushing hard for a favorable oil law to be passed- one of the "benchmarks" that he set for current Iraq government- and the Iraq Parliament recently passed the Hydrocarbon Law... something that the USA press has been very quiet about.
Here is a detailed discussion of why we invaded Iraq:
http://deepblade.net/journal/2007/03/is-the-oil-law-an-iraq-success.ht
ml
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Always look upstream.
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"Always look upstream." Or in this case, up the pipeline.
DAMN ! It WAS about the oil.
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Okay. No outside investment in Iraqi oil infrastructure. Then who pays for it? The stuff they got now is old, inefficient, prone to breakdown, and mostly so obsolete no one makes parts for it any more. Straight loans would be a massive burden on the Iraqi government to repay, and still leave them beholden to the lender. They also need expertise in newer methods and equipment that they don't have. But I guess if the evil oil companies don't make any money off it the fact that Iraq doesn't either is a small price to pay.
"Keep the Shiny side up"
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My take: it's interesting to see who got what of all they went for. It's really about salvaging parts. For Cheney it was about the oil - check. For Bush it was personal - check. For the neocons it was about a NWO - not so much victory on that.
Iraq under Hussein was about to ink contracts with either the French or Russians - I forget which - to develop their oil fields. They didn't have to give up ownership to do it. There seems to have been enough $$ potential to tempt international business. The 'deal' the US ultimately pressured Iraq into wasn't financially necessary.
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Geezer, most of the Mideast oil fields are already nationalized, like the Saudis. And they do very well without giving up ownership.
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Always look upstream.
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Because Iraq tried to steal Kuwait's oil, US Gov massmurdered 2.5-million Iraqis, and serialkilled 100,000 US Gulf War troops.
Now gas is 300% higher, with Sir Heinz Kissinger Knight of the British Empire bragging at Bilderburg that gas will soon be 600% higher, at least. Israel gets the free pipeline.
Three years ago, Iraqis paid 20-cents/gallon for gas, full srvice. Now it's 500% higher and climbing, for oil imported to Iraq by Haliburton.
All Iraq wanted to do was sell cheap oil to USA. New World Odor (a/k/a British Empire) can't let that happen. The Queen's British Petroleum owns all oil in Alaska, and exports it to Japan, Mexico and Communist China, or pumps it back into the ground.
And Bush perped 9/11. Death to NWO and all those who suck its dick.
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Wait.... I'm confused.....
Shouldn't gas prices be going down then?
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Quote:
Originally posted by SignyM:
Geezer, most of the Mideast oil fields are already nationalized, like the Saudis. And they do very well without giving up ownership.
The Saudis didn't start out owning their oil business. Standard Oil of California, joined by Texaco, Exxon and Mobil, did the development and construction. Saudi Arabia threatened nationalization to claim a 50% share of profits and usd this money to eventually buy out the company, almost 50 years after it started business.
http://en.wikipedia.org/wiki/Saudi_Aramco
"Keep the Shiny side up"
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I see the Tokyo Rosie O Brigade is out in full force again today slinging their usual vile bullshit.
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