Iraq was never about oil?
So let's review. When we first invaded Baghdad, our troops stood by and let the people loot the museums and hospitals while they guarded the Ministry of Oil. We were told at the time of invasion that Iraqi oil revenues would pay for a speedy reconstruction of the country. Well that didn't work out so well but hey, there's a silver lining in every oil derrick.
A new law set to pass in Iraq will open up their oil fields for exploitation by oil mega-corps of the West. And how convenient that Iraq is in such a mess they don't have much room to negotiate. The oil corps will get 75% of the profits until they recoup their expenses -- and we all know how those run up so who knows how long that will take -- but if they ever do consider them recouped, they still get 20%. This is far above the normal standard.
Looks like the poor Iraqis aren't going to be able to depend on their oil revenues to bail them out any more than we could, but one might feel confident in predicting that Exxon Mobil has yet another banner year in its future.
A new law set to pass in Iraq will open up their oil fields for exploitation by oil mega-corps of the West. And how convenient that Iraq is in such a mess they don't have much room to negotiate. The oil corps will get 75% of the profits until they recoup their expenses -- and we all know how those run up so who knows how long that will take -- but if they ever do consider them recouped, they still get 20%. This is far above the normal standard.
Looks like the poor Iraqis aren't going to be able to depend on their oil revenues to bail them out any more than we could, but one might feel confident in predicting that Exxon Mobil has yet another banner year in its future.
posted by Libby Spencer at 3:24 PM
2 Comments:
It's not just the oil companies who stand to make money. Consider the last paragraph in that article:
Vince Cable ... a former chief economist at Shell, said it was crucial that any deal would guarantee funds for rebuilding Iraq. "It is absolutely vital that the revenue from the oil industry goes into Iraqi development and is seen to do so," he said.
Halliburton, Bechtel and Blackwater Security, et al, stand to make a killing too. The American taxpayer is the only loser (besides those on both sides who gave the ultimate price, their lives).
The whole thing is such a scam Kathy. It makes me sick.
Post a Comment
<< Home