Who Needed That Oil Conference...not The Rv!
JUST FROM WHAT I KNOW...
The oil law was written with a built-in escape clause by the government and that was passed by the PM's Cabinet clearly stated that if the Parliament fails to act on the passage of this bill by 30 May 2007 that it will fall upon the duty of the Oil Minister in cooperation with the PM to go ahead and sign waiting oil contracts on behalf of the Iraqi People...
SO, on this level...Oil Law or not, the Oil Minister and PM can and do have a right to proceed with signing any oil contract that they deem in the benefit of the people.
This always downplayed the actual logistics of the oil law's actual passage.
BUT, Here is where it is critical to pass
First
It was an IMF/WTO/US Government Benchmark thus (MAYBE) the TRIGGER for RV (MAYBE NOT).
SECOND
The oil companies will not begin work in country other than entry exploration or entry logistics without the law as they need to protect their multi-hundred of million dollar investments by the rule of law.
Otherwise, they could end of losing their whole investment if the government decided to later pass a law that included nationalization.
Also, the oil companies need in writting who gets what and who gets paid what and how we work the paperwork from the field to market.
Without that,
they would have no international legal status in a future claim against Iraq as they had no binding contract - as remember that the Oil Minister said that any Oil contract signed before the new HCL (or other than signed by the Oil Minister/PM but only after 30 MAY 2007) would be illegal.
WHAT DOES THIS MEAN?
The Oil Conference while important (as it was to be the sceen of oil contracts starting to be signed) is not critical to Iraq nor to the RV.
IMHO...
The passage of the combination of the restoring the civil rights to the Sunnis (important as an actual trigger for implementing debt relief from the Saudis and the Eygptians and Gulf States) and the passage of the HCL ARE CRITICAL as they were speficially noted as the benchmarks that the IMF/World Bank/US Government had set.
Remember oil deals can be signed anywhere or can be done electronically...by means of the Internet if nothing else. These can be done at any time also. There is no need nor desire to wait till the September Conference.
THUS,
The cancelation of the conference has only a PR Effect on the continued instablity of Iraq...IT will NOT. It can not effect any planned RV.
Most Learn from Reading. This is Nice to of been Read..
Quote:
Originally Posted by
fredgwest1999
THIS JUST DAWNED ON ME...
The Oil Conference was created by the USAID, sponsored and populated by large American Oil Companies (Standard Oil among others) that have close ties to George Bush's Government (VP/GWB in general and Condi Rice with Standard Oil - as she was at one time on their Board of Directors)...
This fully means to the Iraqi People and in many parts of the world this played out as a totally American Event...
Please remember that the Iraqi Government goes to great length to prove and show that they are independent of the direct power of the USA.
It does not, given this factor, seem a far stretch to say that this was done on purpose to show the world and, more importantly to show the Iraqi People, that this Government is it's own master and not the lap dog of American Interests.
Again, as the actual conference had NO serious value to the Iraqis other than a chance to get oil contracts flowing and which they can then do on their own announcement at any time of their own choosing; they had nothing to lose and everything to gain by making the USAID and Oil People Blink
:ro_emote:
