Though there are few gullible enough to believe the pathetic spin being employed to promote the proposed Iraq oil laws to the American public, this hasn’t stopped Washington from trying.
So-called “oil contracts” have been on the table of the Iraqi Parliament for months, and the fluff of lies printed about them in U..S. media is nauseating.
No amount of propaganda can resolve the incoherence of the explanation that it is in the best interests of Iraq to give away 80% of their oil profits to foreign oil companies who will exercise complete control over how much oil is produced by the country, or that how such oil laws are supposed to magically resolve the sectarian disputes between Shiites, Sunnis and Kurds.
They are proposals for agreements between the Iraqi government such as it is and the world’s largest energy corporations which will determine for a decade or more just how much oil can be pumped out of which fields by whom and how the enormous profits will be shared.
Traditionally the revenue from these fields has been controlled by the Iraqi government as a state-owned resource. Present proposals will probably reduce the amount of control the Iraqi state maintains, while the oil companies are likely to benefit from Iraq’s present weakness which will force them to sign agreements to their disadvantage. Making agreement on the contracts one of the “benchmarks” for the US military departure from Iraq is a form of arm-twisting pressure, saying, in effect: “If you want us out, sign the proposals!”.