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View Diary: Cheney's Middle East Trip and the Iraq Oil Law (Update) (187 comments)

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  •  80% of the oil is "shared" to Western companies (5+ / 0-)

    NObody in Iraq likes this law - it's a giveaway to Exxon/Mobil, Chevron/Texaco, BP/Amoco, and Royal Dutch/Shell.

    The nationalized industry would be 80% privatized.

    The Kurds have their lights on, the roads are safe, nobody's dying - why should they send troops or give away their oil to some Sunnis who quite recently were slaughtering them? The only reason any Iraqi at all will support this law is because we have promised to keep them, personally, rich and pampered the rest of their lives - it's a scheme which has worked admirably well in Saudi Arabia (at least if you're the king) but just might not be sustainable long-term in Iraq? (Ha, ha, ha - snark)

    I think many Americans at least tacitly agree that stealing Iraq's oil is a lot more fun than paying a fair market price for it. What they don't get is the grand design: the taxpayers pay for the war, but the oil companies then get to keep the oil and sell it back to us again - essentially, we pay twice. The last thing Exxon wants to see is a world market flooded with high-grade Iraq crude - $10 a barrel oil again, oh sure.....

    The most common form of human stupidity is forgetting what one is trying to do - Friedrich Nietzsche

    by David Mason on Wed May 09, 2007 at 03:35:42 AM PDT

    [ Parent ]

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