Sunday, January 07, 2007

The New Iraqi Oil Law

Future of Iraq: The spoils of war
How the West will make a killing on Iraqi oil riches
Iraq's massive oil reserves, the third-largest in the world, are about to be thrown open for large-scale exploitation by Western oil companies under a controversial law which is expected to come before the Iraqi parliament within days.
Wonder if this vote has a chance in the Iraqi Parliament? I wonder who wrote this proposal? I wonder whose behind all this?
Dick Cheney, who said in 1999, while he was still chief executive of the oil services company Halliburton, that the world would need an additional 50 million barrels of oil a day by 2010. "So where is the oil going to come from?... The Middle East, with two-thirds of the world's oil and the lowest cost, is still where the prize ultimately lies," he said.

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