WHAT THE IRAQ WAR WAS ALL ABOUT (You have to be a dunderheaded oaf to believe otherwise…)

“Mission Accomplished!”


Iraqis Near Deal on Distribution of Oil Revenues

BAGHDAD, Dec. 8 — Iraqi officials are near agreement on a national oil law that would give the central government the power to distribute current and future oil revenues to the provinces or regions, based on their population, Iraqi and American officials say.

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The drafting committee is made up of ministers and politicians from the main Shiite, Sunni Arab and Kurdish blocs in government. They began talks months ago, but the pace picked up recently, said an American official tracking the negotiations, who spoke on condition of anonymity because he did not want to give the appearance of Western interference in sovereign Iraqi matters.

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The working draft of the oil law re-establishes the state-run Iraq National Oil Company, which was founded in 1964 to oversee oil production but was shut down by Mr. Hussein in 1987. The company would operate using a business model and not through a government budget process. Iraqi and American officials say that would make management of oil production more efficient and separate it from the Oil Ministry, which has been rife with corruption. [ *Note: ‘In plain English, U.S. and British companies would be able to call the shots by dealing with a privatized "company" in Iraq.’ (Acknowledgements to BuzzFlash.com)] [Click here for full story.]

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Links of related interest:

HalliburtonWatch

Halliburton Co. (HAL)

Oil Watch

Exxon Mobil Corp. (XOM)

Chevron Corp.(CVX)


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