April 30, 2007
More problems for Iraq’s oil law
Iraq’s long-awaited oil law will be delayed a while longer, it seems. Kurdistan’s regional government has raised "serious concerns" about draft annexes to the law, talking about unacceptable concentration of power, breaches of constitutional agreements, and a "return to old regime methods."
AP, at the International Herald Tribune site, reports that Kurdish law-makers will try to block the legislation in parliament.
Over at the Oil Drum blog, my story about the IHS report on Irag’s undiscovered potential (press release is here) sparked a lively debate. As the writer of the original post observes, all that oil is not much use to anyone if it is too dangerous to extract, and no-one knows who owns it. Getting an oil law passed, and accepted by all sides, may not be a sufficient condition for getting Iraq’s oil industry to begin its recovery, but it is certainly a necessary one.
Blair: Iraq oil claim is ‘conspiracy theory’
http://politics.guardian.co.uk/foreignaffairs/story/0,11538,875173,00.html
The prize? Liquid cash - ample undrilled oil reserves, estimated to be worth $1 trillion.
http://www.ablemesh.co.uk/thoughtsiraqwhatsitworth.html
Posted by: gordong156 | May 1st, 2007 at 11:38 pm | Report this comment