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The REAL problem with the HCL


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Central says the oil belongs to ALL Iraqi's . But The Kurds say NOT in our region.  Our land IS AUTONOMUS by the constitution .  Who is right? Their constitution has a lot of conflicts like that,/.

The Kurds have agreed that they will contribute 250K bbls for an agreed part of the budget to pay employees in the region.

BUT it is a cat fight . The Kurds wont send the oil until they get the money AND Central wont send the money until they get they get  oil. They dint trust one another . 

They need a third party to serve as an escrow office.  But my thoughts are that would be a never ending job.

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On 6/8/2021 at 4:39 PM, robert c said:

So are you saying that the HCL will never be in an agreement and not pass into law?

A key element of the HCL is that ALL oil operations and sales be controlled by the one National Oil Company.

The Kurds say that the oil under Kurdish land is Kurdish oil. They will NEVER give it up. However., they will SELL some to Bagdad for the right price.

On 6/8/2021 at 4:40 PM, robert c said:

And if the HCL does not become law are you saying there will be no RV?

The HCL never had anything to do with the exchange rate. That was the Guru's excuse for the RV delay.

The MOF/CBI have been raiding the reserves.  AGAIN  The reserves are what supports the exchange rate.

There WILL BE a rate change in December , but you won't like it. I expect 1550 to 1600. Could be worse if oil doesn't get above $80 SOON .

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