US's Iraq oil grab is a done deal


Well-Known Member
Dec 9, 2006
The US imposed oil law privatizes Iraq's oil industry and gives the US control of the spigot. As planned, the US will have "critical leverage" over the global economy and "veto power" over the actions of potential rivals by controling the 2nd largest oil reserves in the world.

US's Iraq oil grab is a done deal
By Pepe Escobar

"By 2010 we will need [a further] 50 million barrels a day. The Middle East, with two-thirds of the oil and the lowest cost, is still where the prize lies." - US Vice President Dick Cheney, then Halliburton chief executive officer, London, autumn 1999

Asia Times Online :: Middle East News - US's Iraq oil grab is a done deal

Congressional Spending Bill Targets Iraqi Oil

Congressional Spending Bill Targets Iraqi Oil

al-Maliki fears U.S. will oust him if oil law not passed

Wed Mar 14, 2007 at 03:37:02 PM PDT

From the AP:BAGHDAD: Prime Minister Nouri al-Maliki fears the Americans will withdraw support for his government — effectively ousting him — if parliament does not pass a draft oil law by the end of June.

Daily Kos: State of the Nation

New Iraqi Oil Law Seen as Cover for Privatization

News – The U.S.-backed Iraqi cabinet approved oil law that gives foreign companies contracts. Labor unions insist oil production should remain in the hands of Iraqis. "...transferring ownership to the foreign companies would give a further pretext to continue the U.S. occupation on the grounds that those companies will need protection."