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

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  •  Amen. How close are the Democrats (1+ / 0-)
    Recommended by:
    AllisonInSeattle

    even looking at it.

    It's presented so nicely since it does make sense to divide it fairly among the Iraq people.

    Well I guess Congress does know, some jusr care more than others

    Law Authorship: American
    In January, the London Guardian reported that the Iraqi law was drafted in part by an American firm at the direction of the Bush Administration. In addition, the White House and oil companies saw a draft of the bill in July 2006 -- as did the International Monetary Fund -- while the Iraq Parliament remained in the dark.

    You got it. We wrote it. Now we're demanding that they pass it, in the name of "democracy" of course.

    But the Senate may put the brakes on this train, if its backbone holds:

       Sen. Joseph R. Biden Jr. (Del.), a Democratic presidential candidate, has been lobbying to have language included in the emergency supplemental war spending bill that will prevent "United States control over any oil resource of Iraq." The Senate Appropriations Committee approved that language in its markup Monday...

       House Speaker Nancy Pelosi (D-Calif.), though, didn't see the [House] bill as pressuring Iraq to privatize.

    The PSAs were a big issue
    A PSA could last as long as 30 years, an extraordinarily high figure. Whereas most PSAs allow the foreign company to recoup 40% of the oil revenue to recover its investment, the Iraqi draft mentions up to 70%. And after a foreign firm has recovered its inv

    Oh but they fixed that

    The amended copy of the controversial law dated Dec. 15, seen by Dow Jones Newswires, doesn't refer directly to PSAs, as the first draft did a few months ago.

    "We have changed the text of the law from PSA to development and production contract in order to avoid (media) fuss," said the senior official, who is close to the committee entrusted with drafting the law.

    The new draft law recommends the Iraqi government sign "development and production contracts," or DPCs, along with service or risk production contracts with foreign companies to upgrade the country's war-ravaged oil industry.

    The 38-page document states: "A model contract could be based on service contract, development and production contract or risk contract."

    An older copy of the draft from August stated: "A model contract could be based on service contract, buyback or PSA."

    See, it's DPCs now, not PSAs. No problem.

    Funny too that they aren't even stealing the oil for "us", they are stealing it for the profit of the oil companies.
    The war is for the oil companies. (Well I shouldn't omit the military industrial complex)

    •  Please read the comments people made to me (0+ / 0-)

      with suggestions for your expertise, ideas for you. (As far as I can tell!)

      Thanks for your work on this, very much.

      Be good to each other. It matters.

      by AllisonInSeattle on Thu May 10, 2007 at 02:36:44 AM PDT

      [ Parent ]

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