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Might need to be moved to different forum.

 

Informative, worth a quick read.  

 

 

The Iraq Oil Law, also referred to as the Iraq Hydrocarbon Law was a piece of legislation submitted to the Iraqi Council of Representatives in May 2007 that laid out a framework for the regulation and development of Iraq's oil fields.

 

Start of process

The legislation started when the U.S.-backed Iraqi cabinet approved a new oil law that was set to give foreign companies the long-term contracts and the safe legal framework they have been waiting for. The law rattled labour unions and international campaigners, who say oil production should remain in the hands of Iraqis.

On March 10, 2007, prominent Iraqi parliamentarians, politicians, ex-ministers and oil technocrats urged the Baghdad parliament to reject Iraq's controversial hydrocarbon law, fearing that the new legislation would further divide the country already witnessing civil strife.

On April 28, 2007, discussions turned contentious among the more than 60 Iraqi oil officials reviewing Iraq's draft hydrocarbons bill in the United Arab Emirates. But the dispute highlighted the need for further negotiations on the proposed law that was stalled in talks for nearly eight months, then pushed through Iraq's Cabinet without most key provisions.

By December 2, 2007, the Bush administration was concerned that recent security gains in Iraq may be undermined by continuing political gridlock, and started pushing the Iraqi government to complete long-delayed reform legislation within six months.

Administrative law response

 

On June 30, 2008, a group of American advisers led by a small State Department team played an integral part in drawing up contracts between the Iraqi government and five major Western oil companies to exploit some of the largest fields in Iraq American officials say.

In June 2008, the Iraqi Oil Ministry announced plans to go ahead with small one- or two-year no-bid contracts to Exxon Mobil, Shell, Total and BP — once partners in the Iraq Petroleum Company — along with Chevron and smaller firms to service Iraq’s largest fields. Several United States senators had criticized the deal, arguing it was hindering efforts to pass the hydrocarbon law.

By July 1, 2008, Iraq's government invited foreign firms Monday to help boost the production of the country's major oil fields, beginning a global competition for access to the world's third-largest reserves.

By February 2009, Iraq had "sweetened" the terms it was the offering international oil companies vying to develop the country’s reserves in the first concrete example of a global shift in power beginning to sweep through the oil industry.

Iraq, which pre-qualified about 45 companies to bid on oil projects, plans to award contracts for the six partly developed and four undeveloped fields offered in its second licensing round by mid-December.

History

The Iraqi oil industry had been completely nationalized by 1972. The government in the 1990s, under the presidency of Saddam Hussein, gave production share agreements (PSAs) to Russian and Chinese companies which gave a profit percentage of less than 10 percent.

The Bush administration hired the consulting firm BearingPoint to help write the law in 2004. The bill was approved by the Iraqi cabinet in February 2007. The Bush administration considers the passage of the law a benchmark for the government of Prime Minister Nuri Kamal al-Maliki. One stumbling block was the unpopularity of the law, as it is perceived by the Iraqi people. An opinion poll conducted in 2007 by Oil Change International and other groups shows 63% of Iraqis surveyed would "prefer Iraq's oil to be developed and produced by Iraqi state-owned companies [than] by foreign companies". This explains why the law had stalled in the Iraqi parliament.

Profit sharing

The new law authorizes production share agreements (PSAs) which guarantees a profit for foreign oil companies.

The central government distributes remaining oil revenues throughout the nation on a per capita basis. The draft law allows Iraq's provinces freedom from the central government in giving exploration and production contracts. Iraq's constitution allows govern-orates to form a semi-independent regions, fully controlling their own natural resources.

Criticism of the new law

Some critics have claimed that the new Iraqi Oil law was not needed since Iraq has the cheapest oil to extract. Other analysts have claimed that the no-bid contracts given to U.S oil companies constitute exploitation since many non-U.S companies would give the same service for shorter contracts and lower percentage of revenue.

 

https://en.wikipedia.org/wiki/Iraq_oil_law_(2007)#:~:text=The%20Iraq%20Oil%20Law%2C%20also,development%20of%20Iraq's%20oil%20fields.

Edited by justchecking123
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I think we are waiting for 2 things

 

1. CV to subside

2. Trump to be re-elected 

 

I have no idea.  This should have been done by now imo.  

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1 minute ago, lisashafer said:

Or just maybe, the rest of the world knows what a doofus trump is and dont want him to get the credit and are waiting until after the election!

 

ha ha thats funny and as good as any answer , were all riding iraqs coat tails looking for a windfall , bad part is after the election it will still be two people that has had a crack at helping iraq already ... trump / pence & obama / biden even funnier when biden obama pulled US troops out of iraq maliki and isis brought iraq to a whole new level of chaos .......cheers , we wait 

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35 minutes ago, lisashafer said:

Or just maybe, the rest of the world knows what a doofus trump is


Alright - Way To Lead The ‘Resistance’ There Lisa ! :o 

 

BogusQuarterlyArmyworm-size_restricted.g
 

U Go Girl ...

 

:D  :D  :D 

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We'll all be right here a year from now wondering why it still hasn't happened and god forbid, if Biden steals the White House, we mind as well sell our dinar because we're screwed 

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9 minutes ago, jake21 said:

God help us!

Don’t worry, God has been running the show the entire time, what trips people up is when they believe they are in control, ha ha. We are exactly where we are all suppose to be, So back and enjoy this ride, I truly think it is almost over. The powers that be are constantly helping, you need to listen though. 
GO RV, GO PEACE ON EARTH!!!!

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Lisa have you ever felt like Wakko ....wait for it....

 

 

2 hours ago, jake21 said:

We'll all be right here a year from now wondering why it still hasn't happened and god forbid, if Biden steals the White House, we mind as well sell our dinar because we're screwed 

 

 

And Lisa can you? Just can you....

 

 

 

But hey lets just ...

 

 

Edited by Theseus
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51 minutes ago, a-j516 said:

imagine defunding the police and letting omar and aoc tell biden what to do.


Every Lawless Major City That They Control Will Look Like The Middle East - The Model For Seattle’s ‘CHOP’ ! :o 

 

image.jpeg.79dec32e4eedf3e5a5c1ff11fc4b262c.jpeg

 

:D  :D  :D 

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4 hours ago, Pitcher said:

I think we are waiting for 2 things

 

1. CV to subside

2. Trump to be re-elected 

 

I have no idea.  This should have been done by now imo.  

maybe timed for same time in MHO......sept/October rv in ready for relection

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4 hours ago, Donziman said:

So now what??  Are we still waiting for some kind of agreement or are the PTB

satisfied with the present stealing arrangements??

exactly...the law was written up by bearing point and George bush.....do i really need to say anything else...production sharing agreements are the way to go oil distributed to provinces based on per capita...this is Iraqis plan....sensible plan...

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6 hours ago, lisashafer said:

Or just maybe, the rest of the world knows what a doofus trump is and dont want him to get the credit and are waiting until after the election!

 

Thanks for your intellectual post.  

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1 hour ago, DinarThug said:

I Just Ate Some Chalk ...

 

I know someone on this site who needs a little chin music which you provided very succinctly through your humor.  Great job Thugs.  

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1 hour ago, Pitcher said:

I know someone on this site who needs a little chin music which you provided very succinctly through your humor.
Great job Thugs.  


U Should See Whenever I Call In The Bro’s For Support ! :o 

 

EzgULv
 

:D  :D  :D 

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11 hours ago, 3n1 said:

 

ha ha thats funny and as good as any answer , were all riding iraqs coat tails looking for a windfall , bad part is after the election it will still be two people that has had a crack at helping iraq already ... trump / pence & obama / biden even funnier when biden obama pulled US troops out of iraq maliki and isis brought iraq to a whole new level of chaos .......cheers , we wait 

Hey lisaschafer, that kinda Iraqi chaos is what Biden has pledged to bring to the USA should he get elected. All by defunding the Police everywhere, defunding the US Military , tearing down all border walls and check points, eliminating fossil fuels, raising taxes , healthcare for everyone that is in the US, and Damn the innocent citizens et al. To me sounds like he is finalizing the same preparations that The Brown Shirts did prior to the rise of Hitler and fascism circa 1930 Germany . Resist.

Edited by new york kevin
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On 7/12/2020 at 3:28 PM, DinarThug said:

Deputy: No agreement between Baghdad and Erbil will succeed without passing the oil law

%D9%83%D8%A7%D8%B7%D8%B9-%D8%A7%D9%84%D8
 
 
14:30 - 12/07/2020

The deputy of the state of law, Kata al-Rikabi, affirmed on Sunday that no agreement could be implemented between Baghdad and Erbil without passing the oil and gas law, indicating that the controversial laws disrupted the political process in Iraq.


Al-Rikabi said in a statement to "information" that "dozens of controversial laws between political forces, which have hindered the political and development process in Iraq because of the differences of the various parties."

He added, "Any agreement between Baghdad and Erbil will never be successful without adopting the oil and gas law that has caused billions of dollars in waste."

Al-Rikabi said, "Without approving controversial laws and activating the work of the Council, successive and accumulated crises in Iraq, especially with the Kurdistan region, have not been resolved."  

 

On 7/24/2020 at 8:08 AM, justchecking123 said:

The Iraq Oil Law, also referred to as the Iraq Hydrocarbon Law was a piece of legislation submitted to the Iraqi Council of Representatives in May 2007 that laid out a framework for the regulation and development of Iraq's oil fields.


It’s Been Brought Up Several Times In Articles This Month ! :o 

:D  :D  :D 

LINK

Deputy: No agreement between Baghdad and Erbil will succeed without passing the oil law

%D9%83%D8%A7%D8%B7%D8%B9-%D8%A7%D9%84%D8
 
 
14:30 - 12/07/2020

The deputy of the state of law, Kata al-Rikabi, affirmed on Sunday that no agreement could be implemented between Baghdad and Erbil without passing the oil and gas law, indicating that the controversial laws disrupted the political process in Iraq.


Al-Rikabi said in a statement to "information" that "dozens of controversial laws between political forces, which have hindered the political and development process in Iraq because of the differences of the various parties."

He added, "Any agreement between Baghdad and Erbil will never be successful without adopting the oil and gas law that has caused billions of dollars in waste."

Al-Rikabi said, "Without approving controversial laws and activating the work of the Council, successive and accumulated crises in Iraq, especially with the Kurdistan region, have not been resolved."
 
Edited by DinarThug
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14 hours ago, new york kevin said:

to the USA should he get elected. All by defunding the Police everywhere, defunding the US Military , tearing down all border walls and check points, eliminating fossil fuels, raising taxes , healthcare for everyone that is in the US, and Damn the innocent citizens et al. To me sounds like he is finalizing the same preparations that The Brown Shirts did prior to the rise of Hitler and fascism circa 1930 Germany . Resist.

 

It doesn’t matter to them.  They just want Trump gone.  Full of hatred 

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On 7/24/2020 at 12:37 PM, lisashafer said:

Or just maybe, the rest of the world knows what a doofus trump is and dont want him to get the credit and are waiting until after the election!

Lisa, what do you care what other countries think? Also do you really KNOW what other countries think? Do you know WHY they think that way? Do you know what their people think? Can you read their minds?.... Or do you get your attitudes from CNN? Think for yourself. Don't be a sheep.

 

I recall that when Trump went to India he was extremely popular. Trump is not popular in China because China has been taking advantage of recent stupid American Presidents, getting a better deal than the U.S. on trade....500 Billion a year, in trade deficits. China was hosing America, till Trump came along. Whose side are you on? The people fleecing your country?

 

As for Europe, the United States has paid for the defense of Europe, since 1945 and the war ended. That deal was to protect Europe from the USSR and communism. Guess what? That disappeared in 1989. There are people on this chat who weren't even alive in 1989. Maybe you are one of them? Why is America paying their bill? Europe is rich. Ever been there? Many Europeans hate President Trump because he insists they pay their own bill. That's why Europe hates Trump: Imagine a man so mean, he turns to a rich guy and says, "Pay your own bill, I'll keep my money to help my family"...people like Lisa...imagine that!

 

 

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Donald Trump celebrates victory over 'Big Pharma' after signing executive order to vastly reduce the cost of prescription drugs by up to 50% and says insulin has gone from 'big dollars to pennies'

  • Trump signed four executive orders at White House ceremony on Friday
  • They will allow import of cheaper medicine and other limited steps
  • Insulin and EpiPens will be available at steep discounts for low-income people
  • Congress has been unable to reach a deal to lower the cost of medicine 

PUBLISHED: 10:53 EDT, 25 July 2020 | UPDATED: 13:42 EDT, 25 July 2020 

 

 
Unable to land the big deal with Congress to curb drug costs, President Donald Trump on Friday moved on his own to allow imports of cheaper medicines, along with other limited steps that could have some election-year appeal.
 

'Nothing like this has ever been done before because Big Pharma, with its vast power, would not let it happen. Expensive Insulin went from big dollars to virtual pennies,' Trump bragged on Twitter on Saturday. 

'Epi-pens went from their incredibly high, jacked up prices, to lower than their original give away bargains. Biggest price reductions in history, by far!'

 

See the entire article below. Click the link.

 

https://www.dailymail.co.uk/news/article-8559761/Trump-unveils-executive-orders-curb-prescription-drug-costs-Congress-failed-reach-

deal.html

 

 

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