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"...oil men are going to carry the day in Iraq"

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SHRED Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 09:29 AM
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"...oil men are going to carry the day in Iraq"

Wouldn't it be nice to know what went on at that energy task force meeting Cheney held in April '01?


It looks like the oil men are going to carry the day in Iraq

Peter Billingsley
December 26, 2006 12:15 am

While President Bush offered a variety of reasons for invading Iraq, to find weapons of mass destruction or to spread democracy, he has been quite steadfast regarding the role of Iraqi oil. As late as this summer President Bush declared, The oil belongs to the Iraqi people. Its their asset. A wonderful sentiment, though the Iraqi people view this a bit differently.

In a poll sponsored by the University of Michigan this summer, Iraqis gave as the reason behind the United States invasion as 1) To control Iraqi oil (76 percent), 2) To build military bases (41 percent) 3) To help Israel (32 percent). Only 2 percent of Iraqis thought we were coming to spread democracy. Politicians might offer benign statements, but the reality is on, or in, the ground. Very shortly we shall see who shall define the reality, and it sure looks like the oil men shall carry the day, at the expense of democracy and economic fairness.

While President Bush proclaims the oil belongs to the Iraqis, it turns out the U.S. State Department proposed the use of Production Sharing Agreements (PSAs) for Iraq even before we invaded Iraq in 2003. Since then, the Coalition Provisional Authority, and the various interim Iraqi governments, all heavily influenced by the U.S., have sought to implement this type of agreement. In late summer it was reported the administration and major oil companies reviewed and commented on a new law governing Iraqs crucial oil sector, before it has even been seen by the Iraqi parliament. Corporate lawyers and the oil industry are writing laws for the Iraqi government. The process is skewed to favor the oil industry and unfair to the Iraqi people.

Why unfair?
PSAs offer the corporation returns ranging from 42 percent to 162 percent a real boon for those involved. The normal return is 12 to 16 percent. PSAs are rife with opportunities for corruption and gold-plating, depriving the state and the civilian population with much needed revenue. PSAs practically guarantee corporate profits, at the expense of the state. Its undemocratic because the law is being written by the oil industry, not the people or government of Iraq.

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