The cabinet of the new Iraqi government, under pressure from the U.S. occupiers who put them in power, approved a law that would undo Iraq's nationalized system and give Western oil giants unparalleled access to the country's vast reserves.
The oil companies would be guaranteed super-profits, on a scale
unknown anywhere else in the Middle East, for a period of 20 to 35 years from oil pumped out of two-thirds or more of Iraq's oilfields. Meanwhile, Iraqis would continue to endure poverty and the devastation of war while sitting atop what is estimated to be the third-largest supply of the world's most sought-after resource.
The great Iraq oil robbery isn't a done deal. Even if the law is finalized by May as expected, the major oil companies say they won't have anything to do with production in Iraq until "security" is established, and that would mean a success for the occupiers and their Iraqi puppets that the U.S. hasn't been able to achieve over the past four years since the invasion.
Still, the law underlines the importance of the scramble for oil to the U.S. empire-no matter how much George Bush and his administration deny it with claims about spreading "democracy" and making the world safe from terrorism.
This story contains 243 words.
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