Saturday, February 24, 2007

New Iraqi Oil Law 2-24-2007

24, February 2007 New Iraqi Oil Law
A new law which will open up Iraqi’s oil reserves to further western oil exploitation will be certain to convince more and more Iraqis that our unwarranted attack on their country had little to do with ushering in the fresh breeze of democracy and more to do with gaining access to their liquid gold. Under the new law, long term contracts will deprive Iraqis of billions of dollars of oil revenue and weaken their control of its production. Foreign oil executives will have a much greater voice as Iraqi federal board members in determining production levels and approving ‘their own contracts’. The new law will also negate Iraq’s membership to OPEC and lay the ground work for the eventual partitioning of Iraq in separate states. There can be little doubt that such a law will weaken Iraq’s economic stability and development and intensify the anger against US soldiers. Thus, failing a massive surge in public opposition, more US and Iraqis will be doomed to pay the ultimate price to insure the continuing obscene profits of multi-national oil companies.

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