Tuesday, 4 September 2007

The Iraq war, Oil Reserves and the Oil Law

Peak Energy blog has such a remarkable compilation post about Iraq war, Iraq's oil reserves and the yet to be ratified Iraq Oil law, that it is a must read for anybody who hasn't followed the situation.

Some quick excerpts:

"Now the truth is evident as the United States pulls out all the stops to manipulate the Iraqi Parliament to pass an oil law in September that would give control of Iraqi oil to foreign interests" - International Herald Tribune
"Iraq is sitting on a mother lode of some of the lightest, sweetest, most profitable crude oil on earth" - Alternet

"33-page draft of the law effectively lays the foundation for the privatization of Iraq's oil industry" - Huffington Post

"Senate Chairman of the Armed Services Carl Levin (D., Mich.) declared the Iraqi government 'non-functional’ and recommended that Prime Minister Nouri al-Maliki and his cabinet be replaced'" - Daily Reckoning
So, there you go: Iraq probably has a lot of untapped oil, the war was (mostly) about oil control, the plunder isn't done yet, but soon approaching. If current cabinet does not pass the oil law, they will be kicked out.

That's the situation in 5 mins or less.