Iraqi cabinet OKs deals with oil giants

[maddezmom]

Source: AP

BAGHDAD - Iraq's cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation's crude output, a ministry official said Wednesday.

The two-year deals, known as technical support agreements, or TSAs, are designed to develop five producing fields to add 500,000 barrels per day to the country's 2.4 million barrels per day output.

Last December, Royal Dutch Shell PLC, BP PLC, ExxonMobil Corp. and Chevron Corp. submitted technical and financial proposals for the five fields and received counterproposals from the Iraqi side.

In January, representatives from the companies and Iraq met again in Amman, Jordan, and they will hold a third round of discussions later this month, said the official, who spoke on condition of anonymity because he was not authorized to release information.



Read more: http://news.yahoo.com/s/ap/20080305/ap_on_re_mi_ea/iraq_oil_deals

[Bright Eyes]

1. Now that the oil giants have gotten what they wanted,

can we leave now? Or is there still more oil to steal?

[dantyrant]

2. This isn't what they wanted.

Two year deals are not the same as thirty year deals.

[meegbear]

3. Is $0.39 a gallon gas prices far behind?

After we pay for the war, of course.

[JNelson6563]

4. And here we thought this war would result

in nothing good! Shame on us for doubting! :sarcasm:

Julie

[merh]

5. That is the cabinet, not the parliament

The majority of parliament have been fighting this, I'm afraid this is going to cause more strife between parliament and GWB's cabinet, I mean the cabinet.

Things are boiling beneath the surface over there, they really are.

[underpants]

6. Yeah-How does the cabinet approve this????

:shrug:

[merh]

7. I don't understand it either

things are not going well over there, despite the MSM and this admin's pitch - all hell is likely to break out soon between this move of the cabinet despite the parliaments' position and the sunnis ignoring the cease fire.

Not to mention how it is the Oil Workers Union that is the largest union in Iraq and they have opposed legislation like this for years now.

[underpants]

8. Read this -posted by HardWorkingDem in Ed&Articles

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x342856

[merh]

9. Thank you

I will print it out to read tonight.