Thread: Iraq/Dinar News. Before Feb. 21, 2007

Iraqi Oil Wealth Stays Locked Up

Posted GMT 2-21-2007 18:7:48

Foreign technology and capital are seen as vital to restoring Iraq's crumbling oil industry. But as a draft petroleum law inches its way toward the Iraqi parliament, fresh opposition to the legislation is emerging, underscoring the difficulty that may still lie ahead for any move to invite in international oil companies.

A petroleum law could provide a significant political boost for Iraq's shaky government, by setting down how money from newly developed fields would be shared among the country's three dominant ethnic regions -- the mostly Kurdish north, the Sunni center and the Shiite south. Reaching agreement on sharing Iraq's energy resources, by far the nation's major source of wealth, will be critical to achieving long-term peace in the war-torn country.

U.S. officials and petroleum experts have been advising Iraqi politicians almost from the start of the American occupation nearly four years ago about how to build a legal framework that would enable foreign oil-field development.

International majors have been reluctant to venture into the country until violence subsides and before politicians endorse a law spelling out legal rights and financial terms for foreign firms.

In recent months, Iraqi politicians have made some progress. In its current form, the legislation envisions the re-creation of an Iraqi state oil company, and it gives broad latitude to officials from the country's various regions to encourage foreign investment and development. Kurdish officials had balked at earlier provisions calling for specific federal approval of development deals between regional governments and foreign firms.

The Iraqi cabinet discussed a revised draft of the petroleum law late last week. The cabinet is expected to meet perhaps as early as this week to take up the issue again, according to Assem Jihad, a spokesman for the Ministry of Oil in Baghdad. If the cabinet agrees on a working draft, it would be forwarded to parliament for debate and ratification.

The legislation still faces significant political hurdles. Earlier this month, an influential union of oil workers in the country's south said it will oppose the legislation. In a speech to more than 200 delegates at a conference in Basra in early February, union leader Hassan Jumaa condemned the legislation as opening Iraq's oil wealth to foreign exploitation.

"History will not forgive those who play recklessly with our wealth," he said. "We consider the new law unbalanced and incoherent with the hopes of those who work in the oil industry. It has been drafted in a great rush in harsh circumstances."

The rhetoric echoes the sentiment of many everyday Iraqi citizens. The nationalization of the Iraqi oil industry in the 1970s under Saddam Hussein remains a point of pride for many Iraqis, and opposition still runs deep to any hint of foreign interference.

Also, opposition has emerged from prominent former Iraqi oil officials, who have recently fled the country's chaos but continue to hold some sway in Baghdad's oil bureaucracy. Because of the escalating sectarian violence and political polarization, these officials fear, rushing through a petroleum law could cause more harm than good to the industry.

- Dow Jones Newswires

Iraqi Oil Wealth Stays Locked Up

Iraq Offers Palestinians Passport, Shelter

Posted GMT 2-21-2007 18:8:46

AMMAN, Jordan (AP) -- The Iraqi government and Kurdish leaders have agreed to give thousands of Palestinian refugees in Iraq a safe haven in northern Kurdish areas, a Palestinian official who negotiated the deal said Wednesday.

The deal was brokered in Iraq last week following negotiations with Iraqi President Jalal Talabani, Prime Minister Nouri al-Maliki, Kurdish leader Massoud Barazani and other officials, said the negotiator, Hamadah Faraaneh.

He told The Associated Press that the Iraqi government also agreed to issue temporary passports for the Palestinians to enable them to travel outside the country.

There was no immediate comment from the Iraqi government or Kurdish leaders.

Iraq Offers Palestinians Passport, Shelter

Originally Posted by duck2000

what there saying is that is the the rate of the dinar will be at 1500 then short term go to 1300 then before the end of the first quater they will raise the rate of the dinar by 1000 percent!!!!!

Hey, duck2000

Looks take way to me TOO!

They mite be talking about raising the value of the Dinar buy 1000%.
Which make more cense to me.

1300 IQD = $1

will become

1300 IQD = $1000

That would make one Dinar = $0.77


Arkie.

Originally Posted by Arkie

Hey, duck2000

Looks take way to me TOO!

They mite be talking about raising the value of the Dinar buy 1000%.
Which make more cense to me.

1300 IQD = $1

will become

1300 IQD = $1000

That would make one Dinar = $0.77


Arkie.

Increasing value by 1,000% is the same as increasing it by 10 times...not 1,000 times.

bottom line(s):
1. this guy thinks its logical to pull a substring of an argument to prove his point (ie: if it rains .5" in 12 hours in an area, you cannot say "This area gets 730 inches of rain per year.)

2. his "potential loss" to the iraqi people is $190 billion. Given they are getting more than that in loan forgiveness and aid, its a pretty good deal. (also, 25% of some is much better than 100% of nothing....)

in closing, I pray that we (taxpayers) did not fund this whiner with a foundation grant. he has too much free time and needs to get a real job.

3. If oil is so evil, perhaps he and his friends should get a PHD in nuc phyzz (or chem e) and actually fix the problem, instead of just crying like a little hurt kitten.

Thanks for letting me rant. These passive/agressives really bother me.

So with all this info can someone please tell me the adverage joe if ,when, how this thing looks in language i can understand.Do we still think there will be a reval of a dollar this month or next

Originally Posted by donald1439

So with all this info can someone please tell me the adverage joe if ,when, how this thing looks in language i can understand.Do we still think there will be a reval of a dollar this month or next

in plain language........... it is good new...........and it has ben expected this month or next for three years....... you just need patience .......no one knows exactly........ go dinar

The impact of deception cash in the account of economic Ar pw

.D. Ismail Hammadi Ebeid
When one loses money and important functions as a unit of measurement the value of things due to inflation caused by the wild sister. Lal monetary policies, which can record figures the follow-up e affect people on the whole phenomenon cheek ray cash transmitted diseases to the politicians who Toe each task of economic policy-making, especially when to ignore the advice provided by economists.

Iraq has seen this problem since the mid - 80th lei of the last century and has become more acute during the period of a siege the one who lasted almost thirteen years prior to the occupation. At a time of continued occupation of this phenomenon and has a dimension outpost is the infiltration in the minds of international experts Onze behind Iraqis when talking about billions Aldola The American pledged by the donor countries e for the reconstruction of what was destroyed by the occupation estimated amounts as a for required for the loan at $ 120 billion and has promised T. button donor countries 33 billion dollars alone Lamy Arka allocate 18 billion dollars by acting as Damocles j deems appropriate without going through channels Iraqi e. If the figure estimated for the reconstruction of Iraq and T. Erosion test, the first question can be posed by the economic neutral respected profession, which is how it was reached by the No.? Were assessing the true value of Beni only Rtkazeh destroyed during the occupation, or if the issue does not only the overthrow impose laughed at deception

And on the assumption of good faith is not to say that we have the right to deceive money has leaked to the international experts? To Altz Kerr only say that the more general part of this rot Cornerstone Yeh established integrated or partial between 1985 and the 76 - the researcher estimates available indicate that the spent this infrastructure, except for those built before and after such a as for roughly 35 billion dollars in 1980 when prices what was the Iraqi dinar equivalent of $ 3.2 If a brother Tna into account that the purchasing power of the dollar that has fallen to less than a quarter of what it was in 1980 (This decline has been used my figure measurement j of the American consumer prices from Ahsa Fat international financial reached) In light of this Waller Do we say that the estimated amount required Las near the infrastructure established during 1976-1985 require at least 140 billion dollars if we Ben Zar account the time required for the reconstruction of no less ferocious than 10 years and will be followed by the further decline in cascade uh purchasing, this amount will increase accordingly. .In order to be a serious matter, the matter requires Gata economic conflicts, in Iraq all the longer studies Wu Put priorities in the implementation in order to put before the world tough e effect that Iraq knows the extent of the damage caused to him and decision-makers in Iraq know what they want, according to Zur quote for the long-term rebuilding of Iraq renewed a.

.Another example which is evident in the phenomenon of deception monetary e and general government budget for 2007 estimated expenses, including nearly 42 billion dollars had been allocated to the Ikar at 75% of the current expenditure and the remaining to be spent Alastthma Ri compared with the current budget to the latest 1958 n the royal era To find out the average expenditure Hako à-vis the current budget of the Iraqi individual. The current budget for 1958 had estimated expenses a ninety million Iraqi dinars or the equivalent of 315 million d Laar and American (dinar rate of exchange against the dollar was y you time 3.5).

And to see how the reader a decent average per citizen Iraqi spending in the current year more than 1958 m mediate what affects the Iraqi citizen of this spending brain Tata him in the year 2007 after the removal of deception with cash j I include the calculation methodology and streamlined.
1- the number of hearts in Iraq in 1958 is 6.5 million n feature and in the apportionment of the current budget allocations for the mind Ge 315 million the number of souls have a per capita for one of these specialties about 49 dollars.
2- If we take 75% of the general budget for 2007 pw ??? the figure of $ 32 billion which is dedicated to the maintenance of Ongoing assessment of the number of hearts in Iraq this year App der get about 27 million in 1180 dollars, which is the average n Sip capita current budget and current prices e.
3- Since the American dollar had fallen power Shara Teh over the past fifty years to only a 4% and Thus, the purchasing power of the amount in 1181 dollars Basa TR 1958 becomes the average per capita share of the current expenditure of 2007 is 47 dollars, which is close to the average share of members of the current expenditure for 1958.

The content of this conclusion is clear and perhaps indicates The Day America to Iraq returns to the pre-industrialization In a meeting with James Baker, Foreign Minister Tariq Aziz to the United States and former Minister for Foreign Affairs of Iraq in their meeting prior to the Ti WHC Kuwait has already been achieved, as suggested in this Almesh R. simple article we will look at later to the situation Alaghtassa de in Iraq in the current era of the 20th century, j compared enabled.

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Cheers!
DayDream

Originally Posted by pipshurricane

READ THIS!!!!It is very interesting and needs reading.

http://www.neweconomics.org/gen/uplo...2005140452.pdf

Thank you for your post. This was 'big' read. Perspective is critical here. If I found oil in my back yard here in Michigan and sold my property to Exxon-mobile, no one would say the American people were ripped off by big oil. Scott Paye would say, 'dang, I bought this handy man's delight for blah and sold it for holy man! Iraq is trying to move from communistic/tribal economic system to a free market. The status quo in Iraq was govt subsidies, 'social nets' where near everyone received checks in the mail for PRODUCING NOTHING. Most of these muslims are too busy praying five times a day to even have a meaningful "job".

After a week of the security plan : Iqbal Bshrahh to buy dinar in Jordan and indicators the growth of the Iraqi economy

The Iraqi economy continues to grow despite the war
After a week of the security plan : Iqbal Bshrahh to buy dinar in Jordan and indicators the growth of the Iraqi economy

Appeared early the second week of the security plan indicators grandfather his hand is evident by what is happening on the ground in Baghdad has an impact T. on the economic and social situation in its entirety, media sources have stated that there is a broad evil purchase of the Iraqi dinar in Jordan, Palestine and Egypt and us N..

She said the exchange market in Jordan to currency dealers in a Jordan Asbakht to sell 800 million dinar dollars were uncovered Yassin Mahamed a cashier of Umm Al-Fahm, he asked dinars from u Arkat Iraqi by telephone or e-mail The instruction received by agents and messengers come to Jordan from Baghdad d. He said, "and the recently created companies imported Iraqi dinars Yeh coming to us in the form of new banknotes bearing the numbers most modules and a value of 25 thousand dinars. "

Sarraf said Iyad preacher from Nazareth in Palestine that only opposite the Iraqi dinar has exceeded all expectations, alluding to a I demand more of the day-to-day due to trading of pain Delivery people, He added that in the beginning the Jews came to buy our parents R. fever but moved to the Arabs who also quantified Abtai'wa T. large traders who conjuring up dinars from pw refined by Jordanian merchants

He said economic expert Ramzi Halabi of the island Net "that a the very widespread phenomenon in Jordan, Egypt and the hurt alone and in some European countries, where many people believe that Iraq, rich in oil and minerals from the regulatory and with the new the dinar, which will enable them to reap substantial profits.

Some observers interpreted in the light of this development achievements Ji this is achieved Baghdad security plan and the growth indicators Alaqet R Iraqi going to leapfrog to the figures rising, making offerings Tthmerin Stock Exchange and traders expected the Iraqi economy to invest in it as quickly as possible

The "Konferens Bord" group, which researches the economy Yeh centered in New York, in its report on productivity in WALSH slavery East, the rate of GDP growth Iraqi Artv p rate of 7.3% in 2005 compared with a decline of 14.2% usage M. 1995.
The report, issued Tuesday that the growth in a in Iraq, due to the overall economic expansion, which j enabled seen in the region.

marsadiraq.com

Cheers!
DayDream