The new Iraqi Oil Law is quintessential Bush. Two-thirds of the reserves in Iraq with go to multinational oil companies, which is a feat that the oil companies could never have pulled off themselves without asking US taxpayers to fund a war. In fact, no other Middle Eastern government would ever go for such preposterous deal unless a gun was held to their heads. The oil companies "generously" give Iraq 20% of the profits back, however the oil companies get to keep the books. So they take a billion in oil out and tell the Iraqi government they only took a million and give Iraq a cut of that "million". I wouldn't be at all surprised if they take "development expenses" for pipelines, refineries, ports, etc. out of that 20% cut .
The remaining one-third of the oil is open to regional governments to sell off to the oil companies, but not on the open market. So they can let the multinational oil companies have it for free and take 20% of the action, or let it sit in the ground. See, this is what makes it "their" oil. They have a choice, after all.
Somehow, giving multinational oil companies a whole lot of oil for free helps the U.S. in some vague way. Oh yeah, they get to sell it back to the U.S. at huge profits, so I guess we all do win, after all. That makes the $400 billion (and counting) the U.S. spent on this war worth it. Or maybe it's the creation of another unstable Shiite state that we were supposed to be grateful for. I lose track of the imaginary reasons sometimes.
Another new twist on the "surge": Only half of the troops are there, so that's why we haven't seen any progress. So why aren't all of the troops there? Is it because we can't spare that many without our military collapsing or is it because the Bush Administration is playing sleight-of-hand with the numbers and those troops don't really exist? How many months are we supposed to wait for these 11, 000 combat troops to arrive before it's okay to start that "six-month clock"? If this is such a great idea that all of the generals support and which will allow us to withdraw, then where are the rest of the troops?
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