Monday, February 26, 2007

Oil

Since we fought this 'war for oil', it's good to finally see the Iraqis doing something about the vast oil wealth that they do possess.

It would be easy for the Shiites and Kurds to exclude the Sunnis in this area and it would even be somewhat justified for what happened in recent history in their country. But the oil draft will protect ALL Iraqis and we'll have to see if it will really work as intended.
Iraqi Cabinet approves draft oil law

35 minutes ago

BAGHDAD, Iraq - The Iraqi Cabinet approved a long-awaited draft oil law on Monday, sending it to parliament for consideration, the prime minister said, calling the agreement "another founding stone in state-building."

Prime Minister Nouri al-Maliki's government had promised a new oil law by the end of 2006 but missed the deadline due to objections from the Kurds, and it faced pressure from the Bush administration to come through. Many of Iraq's vast oil reserves can be found in the Kurdish north and the Shiite south, and the Kurds wanted a greater role in awarding contracts and administering the revenues.

Al-Maliki said Monday's agreement was an important step toward encouraging investment in the country's battered oil industry.(link)

This is a major step in the setting up a real government for Iraq and maybe a vital step into returning the U.S. military home (without the 'honor' of a Democrat retreat).
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Reason to hope

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