Jrose

Well, I am sure hoping these are the Smoking Mirrors we have been waiting for all this time. Adam didn't seem to worried about it yesterday. We will see..

ERBIL, Iraq — The Iraqi government escalated its confrontation with its northern Kurdish region on Wednesday, threatening to send troops and seize oil fields there and taking steps to shut down international flights to and from the region. The moves came in retaliation for a referendum on Monday in which the region, Iraqi Kurdistan, voted decisively to seek independence from Iraq. Kurdish officials announced Wednesday that nearly 93 percent of voters approved the referendum, which aims to create an independent state for the Kurds, an ethnic minority in Iraq. Iraq’s Parliament asked the country’s prime minister on Wednesday to deploy troops to the oil-rich city of Kirkuk, one of several disputed areas held by Kurdish troops but claimed by Baghdad, and to take control of all oil fields in the Kurdish region. A decision to send troops would be up to Prime Minister Haider al-Abadi. He gave no public indication of his intentions on Wednesday, except to say he wanted “no fighting among the people of the country.” He also sent a delegation from the Iraqi military to Iran to “coordinate military efforts,” a military statement said. Iraq has called the vote illegal and has vowed to ignore the results. The vote has also provoked the Kurdish region’s two powerful neighbors, Turkey and Iran. All three countries have been conducting military exercises near the border of Iraqi Kurdistan this week. Iraqi troops, including Shiite Muslim militias incorporated into Iraq’s armed forces, are already in the Kirkuk area. While the city is controlled by Kurdish forces, Iraqi troops are fighting the Islamic State as part of an American-led coalition about 40 miles southwest of the city. Photo Iraq ordered Kurdish authorities to surrender control of the region’s two international airports, including the one in Erbil, or face a shutdown of all international flights, starting Friday. Kurdish troops known as pesh merga seized Kirkuk in 2014, when the Iraqi Army fled an assault by militants there. The inclusion of Kirkuk and other disputed areas in the referendum enraged the Iraqi government, which interpreted the move as a land grab. Baghdad has accused the Kurds of illegally selling Iraqi oil from the Kirkuk oil fields through a pipeline that runs into Turkey. The Kurdish independence challenge is the latest crisis to rock Iraq in recent years. The country was controlled by Saddam Hussein’s regime until 2003, when the American invasion helped set off a brutal civil war and years of wrenching upheaval. Just three years ago, Iraq lost a third of its territory to Islamic State militants. Now that the Islamic State is finally being driven out, Iraq is faced with losing a third of its territory and access to areas with oil and natural gas if Kurdistan breaks away. Beyond the threats of military action, Iraqi authorities have struggled to come up with any meaningful punishment for the Kurds for carrying out the referendum. But with its move to shut down flights to the landlocked region, Iraq seems to have found a weak point. Iraqi aviation authorities notified foreign airlines on Wednesday that it would cancel all permits to land and take off from two international airports in the Kurdish region as of Friday afternoon. The action followed an ultimatum by Prime Minister Abadi on Tuesday for Kurdistan to surrender control of its two international airports or face a shutdown of international flights. The Kurdish Regional Government said Wednesday that it would refuse to hand over the airports. The region’s transportation minister, Mawlud Murad, called the Iraqi ultimatum “political and illegal.” He said the airports were critical to the American-led coalition’s fight against Islamic State militants. Kurdish officials had planned to send a delegation to Baghdad on Wednesday to discuss the issue, but the offer was rebuffed. On Wednesday night, Mr. Murad said that the Kurdish government had agreed to hold talks with Iraq about placing Iraqi government observers at its airports. People celebrated on the streets of Erbil after the referendum results were announced. Credit Ivor Prickett for The New York Times There was no immediate public response from the Iraqi government, but Mr. Abadi, speaking to Parliament earlier, said Iraq would not negotiate with the Kurds unless they annulled the results of the vote. He said he had warned the Kurds “of the consequences of the crisis with Kurdistan.” “The preservation of the security of the citizens of the country is our priority,” he added. At least six airlines — three Turkish companies, the Lebanese carrier Middle East Airlines, Royal Jordanian and Egypt Air — started notifying passengers on Wednesday that they were canceling regularly scheduled flights from the airports in Erbil and Sulaimaniya. Baghdad can make good on its threat because the Iraqi civil aviation authority oversees all airports in the country, including the two international airports in the Kurdish region. The threat to cancel landing and takeoff permits would force international airlines to cancel flights to those airports because insurance risks would be too high, according to Robert W. Mann Jr., a former airline executive who is now an industry consultant. “The issue turns on which entity controls Kurdish region airspace and airports,” Mr. Mann said. “Unless and until the autonomous region is given that control, Iraq controls and can ban, blockade or embargo air service to airports under its control, much as Qatari airports have been embargoed or blockaded by nearby nations. Faced with such a restriction, most commercial airlines would comply, in part due to warnings by their insurers.” The Turkish Consulate in Erbil said that Turkish airlines were working to increase their seat capacity in an effort to get all passengers out of the Kurdish areas before the flight ban took effect on Friday afternoon. Without international flights, getting in or out of Kurdistan would require going through Turkey, Iran, Syria or Iraq, where there are also threats of a blockade. The Iraqi Parliament urged the government on Wednesday to close off its land border with Kurdistan. For years, the Kurdish authorities in Erbil have controlled their own borders with Turkey and Syria. Mr. Abadi has demanded that all borders return to full Iraqi central government control by Friday. A Turkish and Iraqi joint military exercise in Turkey near the border of Iraqi Kurdistan. Credit Ilyas Akengin/Agence France-Presse — Getty Images Turkey’s customs minister, in remarks carried by Turkish state television, said that the main land border crossing between Turkey and the Iraqi Kurdish region remained open, although he would not say for how long that would remain the case. Turkey is the largest trade partner with Iraqi Kurdistan, and the road border is used for much of the cargo trade. Turkey also is the transit country for the oil pumped out of areas controlled by the Kurdish authorities to the world market. Turkey and Iran have opposed the referendum and any moves toward Kurdish independence, fearing unrest by their own Kurdish minorities. Kurdish authorities in Erbil announced on Wednesday that 92.7 percent of those who went to the polls on Monday had voted for Kurdish leaders to seek independence. About 72 percent of 4.6 million registered voters cast ballots, with about 2.9 million voting yes to independence and about 224,000 voting no, the Kurdish Independent High Electoral Referendum Commission reported. The referendum does not automatically trigger a declaration of independence but sets in motion a series of moves toward the establishment of a Kurdish state. The most important one of those may be negotiations of a separation with Iraq, which Iraq has refused. American officials opposed the vote because they feared it would destabilize Iraq, stir ethnic conflict and undermine the American-led coalition. Kurdish pesh merga fighters have played a central role in the coalition’s operations against the Islamic State militants, fighting alongside Iraqi Army units. The Kurdish region’s president, Massoud Barzani, pushed for the referendum in hopes of obtaining a strong public mandate for eventual independence that he could use to begin negotiations with Baghdad. Kurds have been celebrating since Monday evening, setting off fireworks, honking horns and affixing flapping red, white and green Kurdish flags to their automobiles. Government billboards promoting Monday’s independence vote were still in place on Wednesday. New York Times Follow David Zucchino on Twitter @davidzucchino and Margaret Coker @nytmargaret David Zucchino reported from Erbil, Iraq, and Margaret Coker from Ankara, Turkey. Reporting was contributed by Muhammad N. Mahmud from Erbil, Carlotta Gall from Istanbul, Falih Hassan from Baghdad, Nour Youssef from Cairo and Hwaida Saad from Beirut, Lebanon.

Published: May 19, 2017 10:54 a.m. Saudi Aramco IPO will factor into OPEC’s decision: economist AFP/Getty Images May 25 marks decision time for 13 OPEC member states. (Indonesia’s membership was suspended in late 2016) By MyraP. Saefong Markets/commodities reporter OPEC will hold a highly anticipated meeting next week, with nearly everyone so far predicting that members will agree to extend production cuts at least through the end of this year. But that’s not the Organization of the Petroleum Exporting Countries’ only option at its May 25 meeting in Vienna. Members will have to take a lot into account—including the initial public offering for part of Saudi Arabia’s state-owned oil company Saudi Arabia Oil Co., known as Saudi Aramco, planned for next year. “The main, critical element in this market is the Saudi Aramco IPO,” Bodhi Ganguli, lead economist at Dun & Bradstreet, told MarketWatch in an interview. Saudi Arabia, OPEC’s biggest crude producer, will do its “best to keep prices at a level where it makes sense for them to have their IPO.” So, the “Saudis are going to try their best to maintain the cuts at the very least,” and there is some chance that the cuts will be increased, said Ganguli. OPEC members agreed late last year to cut collective production at the start of 2017 by 1.2 million barrels a day for six months. Non-OPEC producers, including Russia, also agreed to cut their output by another, roughly 600,000 barrels a day. “The production cuts are providing a floor on [oil] prices,” said Ganguli. “Prices would have been lower if we did not have the production cuts.” “Whether that’s exactly as OPEC members had wanted…or [whether] that’s enough to guarantee them higher market share down the line will be clear, of course, in the next few months,” he said. A monthly report from the International Energy Agency released Tuesday pegged OPEC’s member compliance with the cuts at 96%—a historically high compliance rate for a group whose members had previously been known to cheat on production limits. Despite the output reductions which kicked in at the start of the year, however, Brent oil prices LCON7, +2.21% the global benchmark, and U.S. benchmark West Texas Intermediate CLM7, +2.21% CLN7, +2.17% have each lost roughly 8% year to date. “In terms of delivering an initial boost to the price, the production cuts were successful,” said Ganguli. But in terms of whether this will be sustained—that would depend on “adherence to the supply cuts” and global demand expectations, as well as factors outside of OPEC’s control, including U.S. production, he said. Probable outcome OPEC is most likely to extend the current production-cut agreement by six months, Ganguli said, giving this scenario a 75% probability rate. “This is what we have built into our price forecast for the year,” he said. Dun & Bradstreet expects Brent crude-oil prices to average $55 a barrel this year. ‘Even if we extend the cuts just at the current level, they should be enough to support the price in the range that we’re looking at—about $55 a barrel/ for Brent. Bodhi Ganguli, Dun & Bradstreet U.S. oil-rig counts have been going up, but production isn’t rising as rapidly as would be expected, because it takes time for the increased oil activity to translate into more barrels in the market, said Ganguli. The global economy, meanwhile, is likely to improve in the second half of the year, and if that happens, would provide support to prices, he said. Given all of that, this “baseline” scenario makes sense. “Even if we extend the cuts just at the current level, they should be enough to support the price in the range that we’re looking at—about $55 a barrel” for Brent, he said. Possible outcomes Still, there are three other unlikely, but possible outcomes for the OPEC meeting, according to Ganguli. OPEC may just decide to end the output-cut agreement altogether, he said. This would result in a slump in oil prices, said Ganguli, noting that he doesn’t have specific prices attached to this scenario because that would “depend on a large number of factors other than the OPEC decision itself.” Overall, he sees this outcome as unlikely, with a 15% probability. Compliance with the current cuts has been high—higher than Ganguli expected. And “there is some evidence that this is having an effect on global oil prices,” so the agreement producers have in place “seems to be working for now,” he said. Then there’s the possibility that the agreement is extended, but with a “more stringent” cut, said Ganguli, pegging the chances of this happening at just 10%. This would see prices increase from their present range in the short term, but there’s a big problem with this particular scenario: a price increase from putting more stringent output reduction requirements on members would create “an incentive to cheat,” he said. There would be the “higher risk of a break down in the agreement to noncompliance,” said Ganguli. This may also feed more oil investment in the U.S., and domestic production is likely to respond to that, he said. Finally, OPEC may decide to extend the pact but lower the reduction requirement, said Ganguli, but the chance of that is set at just 5%. Aftermath Whatever the outcome of the much-anticipated meeting, oil producers will still face a dilemma. “Medium-term risk” for the oil market comes into play after the Saudi Aramco IPO sometime next year, said Ganguli. If prices drift significantly higher than the Dun & Bradstreet $55 forecast after the IPO, that will create incentive for some OPEC members to cheat, he said. At that point, the Aramco IPO would be done, the Saudis may refuse to put up with noncompliance, the deal expires and then everybody starts producing more, including the Saudis,” he said. “That would pressure prices significantly again, and “that’s when the market share [issue] comes into place.” OPEC will have to reassess the oil market—decide whether to extend the production cuts and take a close look at demand and global economic growth, said Ganguli. “Oil markets…[are] never exactly balanced,” but for now, the market is “moving from an oversupply situation to some sort of balance,” he said—and a six-month extension to the output-cut deal will feed a drawdown in global supplies. Created with Highstock 2.0.1

A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford By Stephen Eisenhammer | LONDON LONDON Oil prices were heading on Friday for a second week of gains on growing expectations that big crude exporters will extend output cuts to curb a persistent glut in inventories. Brent crude LCOc1 was up 77 cents at $53.28 at 1328 GMT (9.28 a.m. ET), its highest since April 21, while U.S. benchmark crude oil CLc1 was up 67 cents at $50.02. Since the start of March, the Brent price has swung from more than $56 a barrel to less than $47 as opinion swayed over whether cuts by the Organization of the Petroleum Exporting Countries and other producers will offset rising U.S. output. "The battle between bulls and bears is raging on oil," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. "On the one hand, you have traders who worry about the efficacy of OPEC's oil cuts on inventory levels. On the other, there are those who are focused on the real drawdowns that have started to occur in U.S. oil stocks over the past month or so," he said. Saudi Arabia and non-OPEC Russia have said they see a need for an extension to output reductions. The initial agreement between OPEC and other producers was for cuts of 1.8 million barrels per day (bpd) to run through the first half of 2017. OPEC and other producers are due to discuss an extension during an OPEC meeting on Thursday. "One of the biggest difficulties facing the cartel, however, is that there is a lag between output cuts and inventory changes," Bank of America Merrill Lynch said in a note. It said OPEC-led cuts take about three quarters to start drawing down inventories but U.S. shale producers can ramp up output in just four quarters to fill in the gap left. Also In Business News Dollar remains weak as beating eases for global stocks Strong earnings lift investor spirits after Trump slump Russia's largest oil producer Rosneft said on Thursday it was ready to stick to crude output agreements with OPEC. But there are signs that Saudi Arabia, OPEC's largest producer, is keeping markets well supplied. Its crude exports rose by 275,000 bpd in March from February and its stockpiles also increased, official data showed on Thursday. "I think the cuts are enough to stabilize the market. I think they will likely bring some stock draws but I don't think it will bring the stock draws that OPEC is hoping for," said Olivier Jakob, managing director at Petromatrix. (Additional reporting by Aaron Sheldrick and Henning Gloystein; Editing by Edmund Blair and David Evans)

Iraq's prime minister on Tuesday declared eastern Mosul "fully liberated" from Islamic State group militants after a day of fierce fighting and more than three months after a massive U.S.-backed operation to retake the city began. HOW ISIS IS TURNING COMMERCIAL DRONES INTO WEAPONS IN THE BATTLE FOR MOSUL Iraqi forces drove Islamic State militants from one of their last bastions in the eastern half of the city, while aid groups expressed concern for the estimated 750,000 people still in the militant-held west. In his weekly news conference on Tuesday, Haider al-Abadi hailed the "unmatched heroism of all security forces factions" and public support for the operation. RUSSIA, IRAN, TURKEY PROMISE TO SAFEGUARD SYRIA CEASE-FIRE Mosul, Iraq's second-largest city and the ISIS's last urban stronghold in the country, fell into the hands of the extremists in the summer of 2014, when the group captured large swaths of northern and western Iraq. Asked how long it will take to liberate the western side of the city, al-Abadi told The Associated Press: "I can't tell now, but we are capable of doing so and we will do so." Hundreds of civilians fled from the northeastern Rashidiya neighborhood on foot as Iraqi helicopters circled overhead and fired on militants. At least two wounded Iraqi soldiers were brought back from the front lines after a suicide bombing. A mortar attack in another neighborhood in eastern Mosul killed an Iraqi army colonel on Sunday, according to Brig. Gen. Yahya Rasool, a military spokesman. The U.N. Humanitarian Coordinator for Iraq, Lise Grande, expressed concern for civilians in the western half of the city in a statement signed by 20 international and local aid groups. She said the cost of food and basic goods is soaring, water and electricity are intermittent and that some residents are forced to burn furniture to keep warm. "We hope that everything is done to protect the hundreds of thousands of people who are across the river in the west," Grande said in the statement. "We know that they are at extreme risk and we fear for their lives." The statement called on warring parties "to uphold their obligations under international humanitarian law to protect civilians and ensure they have access to life-saving assistance." Mosul is ISIS' last major urban bastion in Iraq. The extremists still control large areas in neighboring Syria. In Geneva, a spokeswoman for the U.N. human rights office said it had received "reasonable corroboration" for a report that 19 civilians were killed in an airstrike in the al-Jadida neighborhood of IS-controlled western Mosul last week. "Attributing responsibility for airstrikes is very difficult," Ravina Shamdasani said, adding that "it is clear that civilians are being killed in airstrikes." A U.S.-led coalition and Iraq's own air force have been carrying out airstrikes in support of the Mosul operation. The U.N. human rights office also said ISIS fighters have taken over "many hospitals" in western Mosul and are using them as military bases. It said the extremist group is diverting food, water and medicine to its fighters. In Baghdad, meanwhile, a car exploded inside a dealership in the eastern Nahda area. The Interior Ministry said a bomb had been planted on the vehicle and that the blast caused no casualties. A police official and a medical official, speaking on condition of anonymity because they were not authorized to speak to reporters, said the blast killed at least two people and wounded seven. Published January 24, 2017 Associated Press

Iraq claimed Wednesday that a senior Islamic State commander has been killed in a U.S.-led airstrike in the country's north. While the U.S.-led coalition says it carried out a strike there in the last 24 hours, Pentagon Spokesman Col. Steve Warren said Wednesday that there is "nothing to independently confirm this report." There was also no confirmation from Islamic State media, the BBC reports. The Defense Ministry statement said the strike killed Abu Alaa al-Afari and others in Tal Afar. The U.S.-led coalition said earlier Wednesday it carried out a strike in the past day near Tal Afar, destroying "an ISIL fighting position and an ISIL heavy machine gun," using a different acronym for the group. It later put out another statement saying: "We can confirm that coalition aircraft did not strike a mosque." Last week, the U.S. State Department offered a $7 million reward for information on Rahman Mustafa al-Qaduli, whom Iraqi sources identified as Afari, the BBC reports. “Abd al-Rahman Mustafa al-Qaduli is a senior Islamic State of Iraq and the Levant (ISIL) official who reintegrated himself into ISIL following his release from prison in early 2012 and traveled to Syria to work in a Syria-based ISIL network,” the State Department said. Al-Qaduli joined Al Qaeda in Iraq -- the precursor of the Islamic State -- in 2004, serving as a local leader in the Iraqi city of Mosul. The U.S. Treasury Department adds that in 2006, al-Qaduli traveled to Pakistan on behalf al-Zarqawi to conduct an interview, which was then to be provided to Al Qaeda leaders in Afghanistan. The Treasury Department added al-Qaduli to the list of specially designated global terrorists in 2014 "for acting for or on behalf of ... the Islamic State of Iraq and the Levant." The State Department, which offers up to $7 million for al-Qaduli, says he was born in 1957 or 1959 in Mosul. The Associated Press contributed to this report. http://www.foxnews.com/world/2015/05/13/iraq-says-us-led-airstrike-kills-senior-islamic-state-commander-in-city-tal/?intcmp=trending

Basra signs an agreement with the US city of Houston to develop the services sector 05/05/2015 18:52 Tomorrow Press / Basra: signed the governor of Basra Majed Nasraoui twinning agreement between Basra and the city of Houston American to adapt the services sector, stressing that it will open the doors of the joint cooperation between the two cities, with Haosn Municipality looks forward to further cooperation and suggest that covering the education sector. He said Nasraoui said in a statement issued by the his press office and received “tomorrow Press” that “twinning agreement between the two cities with a variety of themes, including the exchange of experiences and build bridges of cooperation in vital areas such as investment, health, education, agriculture and industry,” noting that “the local government in Basra will be keen on activating the Convention for the benefit to the province. ” He pointed out that “Basra and Houston possess many participants, and there are similarities between the two, they are two cities Ssahelatan two commercial ports is also active in them a lot of oil companies, and even climate hand, there are some similarities.” For her part, Mayor of Houston Anis Parker after signing of the agreement in the municipal headquarters that “Basra has become the eighteenth city which has a twinning with the city of Houston relationship,” asserting that “the authorities in Houston looks forward to further fruitful cooperation with the local government in Basra, in order to help in different areas.” She pointed out “The areas of cooperation between the two cities is hoped that covers the education sector in the near future, expressing enthusiasm to host a number of visual students at Houston University, which is one of the best universities in the United States.” The delegation headed by the governor of Basra Majed Nasraoui went early this month to the city of Houston response to an official invitation from the United States government to local government Basra and includes a program of the visit to participate in an international economic conference, officials and experts from the top ten oil cities in the world take part in it, including Basra, which is one of those cities. alghadpress.com

A member of the parliamentary Balaguetsadah: Bank can not delete the zeros will be printed class 50 000 dinars Monday 4 May 2015 11:20 Alsumaria News / Baghdad confirmed the economic and investment commission parliamentary member of the Charter of Hamdi, Monday, that the central bank can not delete the zeros because of the economic situation is stable, as pointed out that the bank regarding the treatment of these things will be printed new financial category worth fifty thousand dinars. He said Hamdi said in a statement it issued, today, and received Alsumaria News , a copy of the “Committee for the economy and investment parliamentary hosted on Sunday, the CBI director on the Keywords, and discussed for the provision of liquidity and increase demand for the dollar issues as well as the disparity in the exchange rate.” She said Hamidi that “Keywords said he. Regarding the treatment of these things, where they will be printed new financial category worth fifty thousand dinars,” indicating that “the Bank for printing percent category thousand dinars to the later” She Hamidi that “the central bank can not delete the zeros because of the current situation and the unstable Iraqi economy “, calling on the central bank to” increase revenue that will be supplied cash and process the difficult liquidity and ease the burden on the citizen. ” said the governor of the bank on the Keywords in 3 of last March, said the project to delete the zeros existing project has been put into implementation and we gave the green light to start with, “adding that” the project needs a period of time may extend to two years or more. He accused the central bank, in (12 September 2011), government bodies obstructing the monetary reform and vowed persecuting, blaming those actors responsible for exposing the financial interests of the country at risk. What was seen as Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge adviser, in (25 August 2011), that the lifting of the zeroes from the currency’s biggest process of corruption in Iraq if it was during this period, and fall under the name of economic tampering, warning of the “mafias currency” is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes. It is noteworthy that some economists believe that Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to be a security and political stability as well as stability of the economy. alsumaria.tv

Created on Tuesday 0.05 May 2015 9:44 BAGHDAD / Sky Press: Faleh Hussein Star economist warned al-Bayati, Tuesday, to borrow money from foreign international banks for the negative impact on the national economy, as the government called for a claim Iraq with money withheld by the International Monetary Fund instead of borrowing it. Bayati said for “Sky Press,” that “the international organizations when they lend money, they set conditions and obligations of States borrowers, such as removing support for the citizen on the fuel level or ration card or reduce expenditure in the budget and these conditions can not a lot of states meet them.” “The asylum Iraq to borrow from the International Monetary Fund weigh the shoulders of the state debt, especially that Iraq so far has not been decided the previous debt and compensation”, calling for “thinking other means other than loans Ktfiel duties, taxes and support the private productive sectors vital Kalsnaaah and agricultural sectors to diversify state revenues “. “The rights of Iraq to claim financial frozen to the United Nations and the International Monetary Fund, which is estimated at two billion dollars or more through the creation of a political and economic paper or to negotiate with the International Fund for Iraq to recover money instead of borrowing from the government.” The International Monetary Fund announced earlier his intention to lend to Iraq amount of two billion dollars to support the federal budget that suffer from large fiscal deficit. Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 per barrel, after it was $ 110. skypressiq.net

The last couple paragraphs makes me really hope this Dinar will revalue by the end of the week or month. Let's hope so!!! Nice find..

Hi Adam, I have a two questions for you today. One, do you think the low gas prices as of late would give speculation that Iraqi will RV soon? Second, my father has been skeptical of the Iraqi Dinar from the begenning and he has asked me the question, where will the trillions of dollars come from when a RV occurs (let's say it revalues at 50 cents ) when people cash in the Dinars? Thanks and good luck to the Packers!!

Hi Adam, My question is this; At one time most of the Iraqi parliamentarians were against the HCL and wanted to remove it or at least they want to modify it so that the involvement of foreign companies were reduced. Do you think American Oil Companies (and other countries) have a roll in the new HCL? Or will foreign oil companies just have to follow the new HCL when voted in by Iraqi without a say in the matter? I hope my question makes sense. Thanks

They have a GOI and a HCAgreement not a HCLaw voted in place..US was congratulating them on the Agreement.

Lot of good info in one post. Thanks...

I agree LB, only if we had Abadi five years ago!!!