It's About the Oil, It's About the Oil, It's About the Oil

Technorati Tags: Iraq, oil

Ann Wright is a retired colonel in the U.S. Army Reserves. She was working at the Department of State when Pres. Bush ordered the invasion of Iraq in March 2003; she resigned in protest. Now she writes, at AfterDowningStreet.org, about what Congress really voted for on Thursday:

Thursday, May 24 the US Congress voted to continue the war on Iraq. They called it “supporting the troops.” I call it stealing Iraq’s oil--the second largest oil reserves in the world. The “benchmark” or goal the Bush administration has been working on furiously since the US invaded Iraq is the privatization of Iraqi oil. Now they have the US Congress blackmailing the Iraqi Parliament and Iraqi people: no privatization of Iraqi oil, no reconstruction funds.

This threat could not be clearer. If the Iraqi Parliament refuses to pass the privatization legislation, the US Congress will withhold US reconstruction funds promised to the Iraqis to rebuild what the United States has destroyed in Iraq. The privatization law, written by American oil company consultants hired by the Bush administration, would leave the control of only 17 of 80 known oil fields with the Iraq National Oil Company. The remainder (two-thirds) of known oil fields and all yet undiscovered oil fields would be up for grabs by the private oil companies of the world (but guess how many would go to the United States firms given to them by the compliant Iraqi government.)

No other nation in the Middle East has privatized its oil. Saudi Arabia, Kuwait, Bahrain, and Iran give only limited usage contracts to international oil companies for one or two years. The $12 billion dollar “Support the Troops” legislation US Congress passed requires Iraq, in order to get reconstruction funds from the United States, to privatize its oil resources and put them up for long term (20-30 year) contracts.