Thread: Iraqi Oil Revenue

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  1. #1 Iraqi Oil Revenue 
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    Why aren't we getting it to help pay for the war?
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  2. #2  
    Senior Member Zeus's Avatar
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    Quote Originally Posted by Phillygirl View Post
    Why aren't we getting it to help pay for the war?
    No Oil for Blood
    Thanks to three American senators, China will be pumping Iraqi oil.
    by Frederick W. Kagan
    09/16/2008 3:15:00 PM

    This morning, I had the honor of testifying before the House Budget Committee on the situation in Iraq. The discussion was polite and civilized, and was a reminder that even now it is possible for people who disagree about what to do in Iraq to argue without raised voices and disagreeable language (apart from the Code Pink women, yelling for those who think that shouting opponents down is preferable to arguing with them). Congressman Brian Baird once again demonstrated that it is possible even for those who bitterly opposed the war to recognize the importance of doing the right thing now--as well as the possibility of crossing the Republican-Democrat sectarian divide on this issue. One question came up repeatedly in the hearing that deserves more of an answer than it got, however: Why, after all the assistance we've given to Iraq over the past five years, was the first major Iraqi oil deal signed with China and not with an American or even a western company? The answer is, in part, because three Democratic senators intervened in Iraqi domestic politics earlier this year to prevent Iraq from signing short-term agreements with Exxon Mobil, Shell, Total, Chevron, and BP.

    The Iraqi government was poised to sign no-bid contracts with those firms this summer to help make immediate and needed improvements in Iraq's oil infrastructure. The result would have been significant foreign investment in Iraq, an expansion of Iraqi government revenues, and an increase in the global supply of oil. One would have thought that leading Democratic senators who claim to be interested in finding other sources of funding to replace American dollars in Iraq, in helping Iraq spend its own money on its own people, and in lowering the price of gasoline for American citizens, would have been all for it. Instead, Senators Chuck Schumer, John Kerry, and Claire McCaskill wrote a letter to Secretary of State Rice asking her "to persuade the GOI [Government of Iraq] to refrain from signing contracts with multinational oil companies until a hydrocarbon law is in effect in Iraq." The Bush administration wisely refused to do so, but the resulting media hooraw in Iraq led to the cancellation of the contracts, and helps to explain why Iraq is doing oil deals instead with China.

    Senators Schumer, McCaskill, and Kerry claimed to be acting from the purest of motives: "It is our fear that this action by the Iraqi government could further deepen political tensions in Iraq and put our service members in even great danger." For that reason, presumably, Schumer went so far as to ask the senior vice president of Exxon "if his company would agree to wait until the GOI produced a fair, equitable, and transparent hydrocarbon revenue sharing law before it signed any long-term agreement with the GOI." Exxon naturally refused, but Schumer managed to get the deal killed anyway. But the ostensible premise of the senators' objections was false--Iraq may not have a hydrocarbons law, but the central government has been sharing oil revenues equitably and there is no reason at all to imagine that signing the deals would have generated increased violence (and this was certainly not the view of American civilian and military officials on the ground in Iraq at the time). It is certain that killing the deals has delayed the maturation of Iraq's oil industry without producing the desired hydrocarbons legislation.

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  3. #3  
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    Thanks. good read.
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    Senior Member Troll's Avatar
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    Instead, Senators Chuck Schumer, John Kerry, and Claire McCaskill wrote a letter to Secretary of State Rice asking her "to persuade the GOI [Government of Iraq] to refrain from signing contracts with multinational oil companies until a hydrocarbon law is in effect in Iraq."
    Color me shocked.

    I never believed the "environmentalism is anti-capitalism" angle personally, but you really have to wonder at this. Or maybe it's just that any good news coming out of Iraq is unacceptable.

    What would we do without the Democratic party, one wonders.
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  5. #5  
    Super Moderator Constitutionally Speaking's Avatar
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    Quote Originally Posted by Troll View Post
    Color me shocked.

    I never believed the "environmentalism is anti-capitalism" angle personally, but you really have to wonder at this.
    The Environmental lobby is nothing but a socialist lobbying group. It has been such from the beginning.



    Quote Originally Posted by Troll View Post
    Or maybe it's just that any good news coming out of Iraq is unacceptable.
    This has a lot to do with it also.


    Quote Originally Posted by Troll View Post
    What would we do without the Democratic party, one wonders.
    We would be done in Iraq AND Afghanistan - and Iran would be cooperating because we would not have been so completely undermined in our anti-terror efforts.

    We would have plenty of oil, both from our own shores and from Iraq, flowing freely and this would have oil prices (and gas prices because we would be refining it as well) at levels we saw in the late 90's.

    Our banking system would be sound - because they wouldn't have been forced to loan out money to people that were not qualified.

    LOTS of stuff out there that the Democrats have screwed us royally on.
    I long for the days when our President actually liked our country.
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