not intending to hijack ribs post...but oh well.
You made some good points in many other discussions as to the lack of evidence of the Iraqi people not retaining the profits from their oil. I was waiting for such evidence.
Allowing foreign companies to own oil fields thus negating profits and revenue from said fields to the Iraqi people seems to be the opposite of what you contented. Do you still maintain that the Iraqis keep "ALL" their oil?
"Allawi called for all undeveloped oil and gas fields to be turned over to private international oil companies. This, at a time when only seventeen of Iraq's eighty known oil fields have been developed. Article 109 of the Iraq Constitution re-enforces this goal stating that the federal government only administers existing oil and gas fields."
Secondly, regarding tariffs on incoming goods:
"Order No. 12 (renewed on Feb. 24) suspends "all tariffs, customs duties, import taxes, licensing fees and similar surcharges for goods entering or leaving Iraq." This led to an immediate and dramatic inflow of cheap foreign consumer products — devastating local producers and sellers who were thoroughly unprepared to meet the challenge of their mammoth global competitors."
"To further embed a U.S. corporate economy in Iraq, the Iraq Constitution contained provisions that approve the Bremer Orders."
How is this helping Iraqis? If this happened in the USA it would wreck our economy wouldn't it?
So when you compare foreign investment in the USA to this it doesn't seems comparable. how do you draw the comparison other then they are "both fruit"? Where one harms the economy and the other protects it.
Third which of those orders do you agree with?
It's obvious that they encourage foreign investment but at whose ultimate long term expense?
I stated earlier that I was cynical of the guy who wrote the article, because it sounds like he had an agenda. So I did a little reading and discovered that this oil issue is hardly settled. According to the following article, the Iraqi government is working on a law that ensures Iraq owns it oil fields, with the right to negotiate with foreign companies who will invest, but ownership and control remains with Iraq. Check out the bold portions at the end. Completely undermines what you are suggesting IMO. This is just an excerpt:
Iraq: Summary Of Draft Oil Law An oil refinery in Al-Sulaymaniyah (file photo)
(AFP)
March 2, 2007 (RFE/RL) -- On February 27, Iraq's cabinet approved a long-awaited federal oil law, with the aim of distributing oil revenues fairly among the regions. The law must now be approved by parliament to take effect.
The National Assembly's Council of Representatives is responsible for enacting legislation on crude oil and natural gas and shall approve all international petroleum treaties that Iraq signs with other states.
The Council of Ministers (cabinet) is responsible for proposing legislation related to the development of petroleum resources to the National Assembly. It formulates federal petroleum policy and ensures that the Oil Ministry works in consultation and coordination with provincial petroleum-production authorities.
Federal Oil And Gas Council
A Federal Oil and Gas Council will be established. It will be chaired by the prime minister, or his appointee, and will include the oil, treasury, and planning and cooperative development ministers. It will also include the director of the Central Bank, a minister representing each region; a representative of each governorate not belonging to a region; executive managers from relevant petroleum companies, including the National Iraqi Oil Company and the Oil Marketing Company; and not more than three experts specializing in petroleum, finance, and economics appointed to five-year terms.
The council determines federal petroleum policies, exploration plans, field development, and pipeline plans inside Iraq and has the authority to approve any major changes to those plans and policies. The council is also responsible for reviewing and changing exploration and production contracts. The council will rely on an "independent consultants bureau" made up of oil-and-gas experts from Iraq and abroad who are experienced in exploration and production operations and in petroleum contracts. The experts will be hired through one-year, renewable contracts.
The council is also responsible for ensuring that petroleum resources are explored, developed, and produced in an optimal manner and in the best interests of the Iraqi people.
Oil Ministry
The law issues guidelines for the restructuring of the Oil Ministry, including the following:
The Oil Ministry must establish a new department to oversee planning, developing, and following up the process of obtaining rights. It will comprise individuals trained and specializing in operating tenders and auctions and individuals capable of carrying out professional negotiations with oil companies to sign contracts related to exploration and production rights. "This department must include in each and every negotiation representatives from the related producing governorates."
The ministry must establish mechanisms for restructuring the relationship between the ministry and related companies and for regulating entities in a way that guarantees the full separation of production companies and oil services from the regulatory, monitoring, and supervisory departments of the ministry. Moreover, production departments must be separated from -- yet integrated with -- service departments in a way that guarantees increased productivity and maximum profits.
The ministry is authorized to sign service contracts and administrative contracts with oil or service companies.
The ministry should strive for the speedy and efficient development of fields that have been discovered but are undeveloped or partially developed, and may do so in collaboration with reputable oil companies.
The Oil Ministry is responsible for proposing federal policy, laws, and plans. It is also responsible for creating legislation and issuing regulations and guidelines to implement federal plans. It will undertake monitoring, supervisory, and regulatory steps to ensure unified implementation of legislation.
The ministry shall coordinate with governorates and regional administrations to draw up federal policies and plans related to short- and long-term exploration, development, and production.
The ministry is empowered to negotiate multilateral and bilateral agreements related to oil and gas with other countries and organizations subject to approval in accordance with the constitution. It is responsible for monitoring petroleum operations to ensure adherence with the laws, regulations, and contracting terms. It is also responsible for verifying costs and expenditures incurred by the holders of rights to ensure the correct and justified cost recoveries in order to determine revenues owing to the government.
The ministry must coordinate with regional governments and producing governorates to create specialized entities that carry out the ministry's responsibilities.
Contracts will be entered into by the ministry (or regional entity) and an Iraqi or foreign entity that has demonstrated the technical competence and financial capability to complete the contract, and according to transparent and accountable tendering, according to international petroleum-industry standards.
Contracts should stipulate, among other things, national control, ownership of resources, optimum economic rent to the country, an appropriate return on investment to the investor, training and development of Iraqi personnel, and technology transfers.
. . .
http://www.rferl.org/featuresarticle/2007/03/9d033277-ae99-4ad3-b470-4008aa0040b8.html