December 12, 2006

"Oil of course is the critical asset in Iraq"

A roundup from the Institute for Public Accuracy. It quotes this Dow Jones article which confirms the dreaded PSA's are on the table:
"Iraq's first postwar draft hydrocarbon law recommends the government sign production sharing agreements and other service and buyback contracts ... An Iraqi oil ministry official told Dow Jones Newswires Wednesday the new law proposes allowing -- for the first time -- local and international companies to carry out oil exploration in Iraq."
I liked this quote from Greg Muttitt:
"The Baker-Hamilton report says very clearly that an oil law is needed for foreign investment -- this is shorthand for PSAs. Elsewhere the report says that Bush should emphasize that the U.S. is not interested in oil in Iraq. These are two recommendation of the report that Bush will follow.

"The Bush administration had been calling for a new oil law. It had been claiming that such a law was necessary because foreign investment is needed. More recently, the administration has been claiming such a law would help solve sectarian problems. But this is a Trojan Horse..."
See, Bush puts on his Uncle Sam hat and says "the U.S. is not interested in oil in Iraq". Then he puts on his New World Order hat and signs Iraq's oil over to Big Oil.

We want foreign investment in Iraq, and we just happen to be close friends of the foreigners who are ready to invest.

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