You decide.
From the Dow Jones Newswire (1/9/07)
Iraq's massive oil reserves may be thrown open for large-scale exploitation by Western oil companies - which could end up grabbing up to 75% of the beleagured nation's oil profits.
A draft of this controversial law, which the U.S. government has been helping to craft, would give oil giants such as BP PLC (BP), Royal Dutch Shell PLC (RDSA) and ExxonMobil Corp. (XOM) 30-year contracts to extract Iraqi crude.
Oil industry executives and analysts say the law, which would allow Western companies to pocket up to three-quarters of profits in the early years, is the only way to get Iraq's oil industry back on its feet after years of sanctions, war and loss of expertise.
* * *
Iraq's Deputy Prime Minister, Barham Salih, who chairs the country's oil committee, is expected to unveil the legislation as early as Monday and the government hopes to have the law enacted by March, according to the report.
Have our troops really been dying to make money for Exxon and Shell? Seems awful suspicious to me.
Still, Joe Knollenberg is supporting Bush's "Stay the Course" strategy. I bet Joe has a lot of stock in Exxon and Shell.
Joe Knollenberg's Positions are Out of Sync With Voters in Oakland County.
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