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WHO WILL SIGN THE NEW OIL LAW IN IRAQ THIS DECEMBER?

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WHO WILL SIGN THE NEW OIL LAW IN IRAQ THIS DECEMBER?


[+] serious ballot by Mithrandir
created Mon Oct 30, 06

In January 2005, conveniently after the December elections but before the appointment of a new Iraqi government, the International Monetary Fund (IMF) agreed to cancel 30% of Iraq’s debt in exchange for Iraqi compliance with IMF conditioned economic policies. Nestled in the fine print, the agreement forces Iraq to pass an oil law by the end of 2006 and allow the IMF to help draft the law. With little public oversight or discussion, Iraq’s Oil Ministry (controlled by the US) has begun negotiating with multinational oil firms, and may soon sign long-term production sharing agreements as part of the IMF-mandated oil law. Studies indicate that Iraq could lose up to US$ 200 billion in revenue from the deals, and Iraqi trade unions have unanimously opposed the foreign control of Iraqi oil.

The law has to be signed by an Iraqi head of state. Who do you think will sign it?

Nuri al-Maliki, the current premier of Iraq
the former interim premier Iyad Allawi, reinstated by a coup
it doesn't matter, as long as the US has control of the oil

Ballot #104335 : SEE RESULTS

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COMMENTS:
Voted : it doesn't matter, as long as the US has control of the oil
The Iraq war was always about oil, folks.

http://img79.exs.cx/img79/485/suvjuice7ih.jpg
by cranky on Mon Oct 30, 06 10:08am [+]

Its not about the oil though. I just did a ballot on this. The United states has the largest oil reserves in the world. Up to 2 trillion barrels in shale oil.

They just found 15 - 28 billion barrels in the US gulf of Mexico and another 16 billion barrels in Alaska. Not even counting the shale oil 2 trillion barrels we have about 70 billion barrels in traditional oil.

Heres 2 of the comments from the ballot I made yesterday. Why would we blow a trillion dollar to invade Iraq for oil when we could spend a tiny fraction of that to extract the oil in the Green River formation.





On Tuesday, the Senate Energy Committee held hearings on the vast reserves of oil found in tar sands and oil shale located in eastern Utah, western Colorado and southern Wyoming.

The amounts of oil, said Sen. Orrin Hatch, R-Utah, "are mind boggling. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East, except we don't count it among our nation's oil reserves because it is not yet being developed commercially."



On August 8, 2005, President Bush signed into law the Energy Policy Act, the first comprehensive national statement of “policy” on the subject in more than a decade. This 549-page Act provides over $12 billion in tax breaks, research and development funding, and other production and conservation incentives for both industry and consumers.

The Act reflects the nation’s focus on increasing the energy supply by balancing domestic production with conservation and more efficient technologies.
The development of energy resources in Utah is a key component of that national strategy. While no one should be expected to be fully informed as to all of the provisions of the Act, there are numerous provisions that will directly impact Utah, its economy, and its citizens. Primarily, those provisions address the development of oil shale/tar sand, coal and geothermal resources.

by TomSmith on Mon Oct 30, 06 11:00am [+]

Tom:

I'm not arguing that oil shale may have great potential, but I still maintain that the Iraq War is about oil.

"Why would we blow a trillion dollar to invade Iraq for oil when we could spend a tiny fraction of that to extract the oil in the Green River formation."

Two reasons:

1) Bush, Cheney, and Rumsfeld thought the war in Iraq was going to be a over in a few weeks, with Big Oil taking control of the Iraq reserves shortly afterward. The new Iraqi Constitution, which contains a clause guaranteeing that the oil reserves would be privatized (i.e. handed over to Big Oil), took a couple of years to produce. And the actual contracts giving Big Oil the Iraqi fields are still months away (at least) from being signed.

2) The oil shale fields in the U.S. are still years away from producing the massive levels of production that they thought the Iraqi fields would produce right away.
by cranky on Mon Oct 30, 06 11:11am [+]

I disagree. talk to anyone on the NY mercantile exchange or anyone in the oil business. Invading Iraq for oil would have been stupid on many levels.

1 there would never be a guarentee the usa would have access to the oil

2 the u.n is involved in managing their oil deals

3 there are foreign forces involved in iraq too, so how would the usa go about 'stealing' the iraqi oil

4 domestic resereves of oil have been raised big time. if we have proven reserves of 70 billion or more barrels of oil we're not going to spend 1 -2 trillion dollars to get Iraq's oil, when they're proven reserves are only about 115 billion and there'd be no guarentee we'd get it anyway.

5 You point out about privitzing Iraqi oil. That would mean that French, British, Dutch and oil compnaies from all over the world could get the lions share. Just how is that guarenteeing us anything? Its not.

You're also mistaken on how long it will take to get the shale oil. They already began the process and short listed the companies with the right technolgy for extraction from 6 down to 3.

Sorry man, but anyone in the know in oil knows that it was not about oil. I don't know what it was about, but its not about oil in the sense you think. It might have been to ensure Iraq did not disrupt the world oil supply overall, but it was not about the usa getting their oil. Thats just ridiculous on lots of levels.
by TomSmith on Mon Oct 30, 06 12:45pm [+]

Voted : Nuri al-Maliki, the current premier of Iraq
He *will* if he wants his cut...
by Truthseeker013 on Mon Oct 30, 06 7:44pm [+]

Those of you who are interested in this issue may want to look at the article at www.alternet.org/story/43045. I do not have enough background on the subject to be able to analyze its accuracy, but it seems well sourced.
by Guest User from [24.180.148.228] on Thu Nov 09, 06 11:20am [+]

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