Guest skinsmatic Posted January 11, 2007 Share Posted January 11, 2007 http://news.independent.co.uk/world/middle_east/article2132569.ece 70% of revenue for us companies and then 20% Future of Iraq: The spoils of war How the West will make a killing on Iraqi oil riches By Danny Fortson, Andrew Murray-Watson and Tim Webb Published: 07 January 2007 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. The US government has been involved in drawing up the law, a draft of which has been seen by The Independent on Sunday. It would give big oil companies such as BP, Shell and Exxon 30-year contracts to extract Iraqi crude and allow the first large-scale operation of foreign oil interests in the country since the industry was nationalised in 1972. The huge potential prizes for Western firms will give ammunition to critics who say the Iraq war was fought for oil. They point to statements such as one from Vice-President 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 Link to comment Share on other sites More sharing options...
herrmag Posted January 11, 2007 Share Posted January 11, 2007 Ummm, okay, no actual facts to back it up. Speculation on possible legislation that MIGHT make this possible. Meanwhile, back in the US, we're investing tons of money for alternate energy sources, and a Bush passed bill allowed for more drilling in Alaska. Link to comment Share on other sites More sharing options...
Guest skinsmatic Posted January 11, 2007 Share Posted January 11, 2007 give it a week or so it'll be passed into law, no doubt in my mind. Link to comment Share on other sites More sharing options...
chomerics Posted January 11, 2007 Share Posted January 11, 2007 If this is true, and there is no reason to doubt it, then WHAT THE F***!!! Supporters say the provision allowing oil companies to take up to 75 per cent of the profits will last until they have recouped initial drilling costs. After that, they would collect about 20 per cent of all profits, according to industry sources in Iraq. But that is twice the industry average for such deals. From the article Link to comment Share on other sites More sharing options...
herrmag Posted January 11, 2007 Share Posted January 11, 2007 give it a week or so it'll be passed into law, no doubt in my mind. When it is, you MAY have a leg to stand on. However, that bill, as we'll see spinned in the Washington Times, may prove beneficial for Iraq in return. It's so easy to play the blame game prior to actual events. Let history crush our leaders. Give it a few months, and we'll all know ther real TRUTH. I don't know, sometimes people pick on Bush so much, I find myself defending him, even though I didn't vote for him, nor do I like his political mentality. I think, if old school republicans existed (without Christians commanding their political values), I'd be one. However, this new mentality sickens me. Link to comment Share on other sites More sharing options...
Guest skinsmatic Posted January 11, 2007 Share Posted January 11, 2007 that explains the 20,000 troops they should be able to protect the drilling and shipping operations. Link to comment Share on other sites More sharing options...
Guest skinsmatic Posted January 11, 2007 Share Posted January 11, 2007 so was ousting sadam, just ask Bush. Sure lets have the oil companies explain it to the IRAQ's. Link to comment Share on other sites More sharing options...
Blighty Skins Posted January 11, 2007 Share Posted January 11, 2007 Despite this toiletpaper...err....newspaper being called "Independent", it is nothing but. It is an anti-American, anti-west "sympathiser to terrorist causes" piece of crap. Seriously, if you took the Times article on having seen leaked documents of Israeli planning a nuke strike with a pinch of salt...take this article with a fistful. Link to comment Share on other sites More sharing options...
Sarge Posted January 11, 2007 Share Posted January 11, 2007 Good. Maybe we can start recouping some of the money we've laid out for this operation Link to comment Share on other sites More sharing options...
Blighty Skins Posted January 11, 2007 Share Posted January 11, 2007 Good. Maybe we can start recouping some of the money we've laid out for this operation Agreed, we deserve it...liberty comes at a price as they say...Europe paid for theirs in WW2, why shouldn't the Iraqis? Link to comment Share on other sites More sharing options...
Guest skinsmatic Posted January 11, 2007 Share Posted January 11, 2007 I would of have more respect for Bush if he would of said to the world that since the Middle East attacked us on 9/11 we are taking over Iraq and its oil as punishment. But he chose to talk with fork tongue. I guess its their nature. Oh, I guess oil companies now equal america. Link to comment Share on other sites More sharing options...
Rocky21 Posted January 11, 2007 Share Posted January 11, 2007 Good. Maybe we can start recouping some of the money we've laid out for this operation What "we" are you talking about? Oil companies or the U.S. gov't? Link to comment Share on other sites More sharing options...
JMS Posted January 11, 2007 Share Posted January 11, 2007 Let's put it in perspective here... America has spent 400 billion dollars in Iraq so far. If we left today we would incure up to another 1.5 trillion dollars in back end costs due to the invasion.. ( replacement of equipment, medical costs, retraining, etc ) Iraq exports 11 billion dollars worth of oil a year. America could literally take every penny from every drop of oil for 100 years and recoup about half of what we spent. But of coarse that's not up for debate. What is being discussed in this thread is the large corporations which took most of our 400 billion, are now trying to suck up the Iraqi 11 billion yearly. Iraq isn't about the soldier on the ground. It's always been about the multinational and the hundreds of billions changing hands. Link to comment Share on other sites More sharing options...
Midnight Judges Posted January 11, 2007 Share Posted January 11, 2007 Agreed, we deserve it...liberty comes at a price as they say...Europe paid for theirs in WW2, why shouldn't the Iraqis? Because Hitler started WWII. Bush started this war. Why should Iraq pay for a war they didn't start and didn't want? Link to comment Share on other sites More sharing options...
JMS Posted January 11, 2007 Share Posted January 11, 2007 Agreed, we deserve it...liberty comes at a price as they say...Europe paid for theirs in WW2, why shouldn't the Iraqis? How did Europe pay for WWII? Least they didn't cover our end.. Also how exactly are you calling what Iraqi currently enjoys.. 2 hours of electricity a day. less fresh water than under Saddam 100 secular deaths a day unemployment around 60% How is that liberty? Sounds like we screwed up their country and now are trying to make a buck on their oil revenues... Link to comment Share on other sites More sharing options...
SnyderShrugged Posted January 11, 2007 Share Posted January 11, 2007 I can only say....."So what?" Link to comment Share on other sites More sharing options...
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