quote: U.S. advisers and Iraqi oil officials, now studying how to organize Iraq's vast but dilapidated oil industry, are leaning heavily toward recommending the formation of a large state-run petroleum company. If adopted, the move could sharply curtail the role of international oil corporations for years.
Really that says everything, at least to me. Iraq will have complete control of their oil (assuming this is how the oil winds up being divided) instead of various companies coming in and getting it.
quote:The U.S. advisers and career officials at Iraq's Ministry of Oil say they feel that keeping the industry in state hands is crucial to allaying widespread concerns here that the American-led invasion of Iraq was an oil grab. Iraq's oil industry boasts reserves of about 112 billion barrels, second-largest in the world after Saudi Arabia.
It sounds like the real decision will be made in February, and the test will come in July, but this seems like a really good first step, proving that the war wasn’t about oil.
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If the "state-run" company isn't controlled by a puppet state under US control, that is. *sits down to wait and see*
Posts: 1041 | Registered: Feb 2002
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"Even if it is, that wont change that it isn't US companies going in and getting the oil, it's Iraq doing it."
Bear in mind, Hobbes, that the prices paid by U.S. companies for the oil will be set by the state-run government. Posts: 37449 | Registered: May 1999
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I'd hate to see a "Friends of Iraq Discount" for the oil, as compared to the price of oil for "Those who did not support the war for Iraqi freedom."
I don't think they will, but it is not beyond the realm of credibility.
Posts: 11895 | Registered: Apr 2002
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What if they gave discounts that over time added up to the costs of the invasion and occupation? Would that be considered fair, asusming the discounts still make the oil profitable for Iraq?
I'm not sure where I stand on this. On the one hand, I like the idea of demonstrating the purity of our motives. On the other hand, it'd be nice to get some of that money back.
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Also we have to realize that there are a number of people, both here at home and in the middle east, who will think we profited no matter what we do.
Posts: 968 | Registered: Sep 2003
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That's one of the reasons I might be inclined to accept such a discount. If they're going to blame you for it anyway...
Posts: 26071 | Registered: Oct 2003
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