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This point was specifically addressed by the speaker. He pointed out that there is no "Law", only a draft proposal. And that draft will undoubtedly undergo many more changes before it is even presented to the Iraqi parliament. He also pointed out that currently the only people current working to develop new projects in Iraq are Russia and China. And you can be sure that any contracts signed by China or Russia will be far more favorable to those two countries than to the Iraqi people.
That being said, exactly what would you expect from the proposed law? Would you think that everything should be nationalized, as Russia and Venezuela are currently doing? If there is anything that will reduce oil production in Iraq it would be total nationalization of everything. If that happened then the corrupt politicians could just divide the money from current production, leaving nothing for maintenance or development.
And also pointed out on the show was that the oil companies mentioned in the proposal were truly international companies, not just US companies.
Ron Patterson
Iraqi is an occupied country and any legal changes are themselves illegal. Before the occupation, the oil resources were the property of the Iragi state. Most Iragis think they should remain so.
Some politicians are corrupt, a fact widely used by oil companies e.g. Nigeria. Others such as Wolfowitz and Cheny appear to be corrupt too.
Doubtless US oil comppanies are misunderstood saints. But as participants is Cheny's energy task force they received maps of Iragi oil reserves. They have also been consulted before the Iragi Parliamnt about the proposed oil law.
The biggest US embassy in the world is soon to open in Bagdad. American townships are being constructed in Irag for a permanent presence of US troops. How loong is the occupation intended to last - 1000 years?