Fully Featured & Customizable Free Forums
zIFBoards - Free Forum Hosting
Welcome to Loose Change Forum. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.

Join our community!

If you're already a member please log in to your account to access all of our features:

Name:   Password:


 Iraqi Oil Opens For Western Exploitation, new law allows West to tap reserves
Posted: Jan 8 2007, 04:02 AM

Advanced Member

Group: Gone
Posts: 1,534
Member No.: 331
Joined: 20-October 06

Iraqi oil opens for Western exploitation
BAGHDAD, Jan. 7 (UPI) -- Under a new law, Iraq's massive oil reserves will open for Western oil companies, fueling debate on whether the war in Iraq is for oil.

The Independent reported on the law, which is expected to come before Iraqi lawmakers this week. The law would give oil companies like BP, Shell and ExxonMobil 30-year contracts to have access to Iraqi crude oil.

It would be the first large-scale operation of foreign interests in Iraq since the oil industry was nationalized in 1972, the Independent said.

Critics say the development shows the war is being fought for oil. They cite Vice President Dick Cheney who -- while CEO of the oil services company Halliburton -- said the world would need an additional 50 million barrels of oil a day by 2010, oil that would probably come from the Middle East.

0 User(s) are reading this topic (0 Guests and 0 Anonymous Users)
0 Members:
« Next Oldest | Latest News Section | Next Newest »
zIFBoards - Free Forum Hosting
Free Forums. Reliable service with over 8 years of experience.
Learn More · Register for Free

Topic Options

Hosted for free by zIFBoards* (Terms of Use: Updated 2/10/2010) | Powered by Invision Power Board v1.3 Final © 2003 IPS, Inc.
Page creation time: 0.0192 seconds · Archive