Executive Order, 13303 decreed that 'any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is prohibited, and shall be deemed null and void', with respect to the Development Fund for Iraq and "all Iraqi petroleum and petroleum products, and interests therein." (The Development Fund, derived from actual and expected Iraqi oil and gas sales, apparently was used to leverage U.S. government-backed loans, credit, and direct financing for U.S. corporate reconstruction operations in Iraq.)
In other words, all of the oil, resources and industry are the property of the U.S.; to trade, sell, and disperse at its discretion. Yet, the Bush wars were never about actually getting more oil for Americans. They were always about the oil companies, drillers, prospectors, and oil support services getting permission to exploit a piece of the broken land for their own enrichment and profit.
"We have helped to establish an independent Iraqi central bank." Bush said after installing Chalabi and his minions in the interim 'authority'. "Working with the Iraqi Governing Council, we are establishing a new system that allows foreign investors to confidently invest capital in Iraq's future."
Under the edict issued by the Iraqi/U.S. council, foreign banks were to be given immediate access to establish themselves or buy into Iraq ventures. Under the new bank rules, six foreign banks were allowed "fast-track" entry into the country and were permitted full ownership of the local banks within five years.
Other moves by the Council were the creation of a supposedly "independent" central bank; and a trade bank propped up by a gang of 13 foreign banks; and a $500 million credit from America's Export-Import Bank; more U.S. taxpayer dollars subsidizing foreign bankers. In an economy which has never allowed outside ownership on this scale, the Iraqi citizens have almost certainly lost hold of their country and their resources, no matter how you view the U.S. advantage there. World Bank statistics record the per capita income in Iraq rose from $479 pre-invasion to about $1,188 in 2005. But, Iraqi's per capita income was $3,240 in 1980, before the imposition of sanctions which served to enrich Saddam's regime and starve everyone else.
Shell and British Petroleum (Tony Blair's payoff), were among the first foreign companies to be given contracts from the resumption of Iraqi oil exports when the country signed its first long-term supply deals since the war was declared over. Among the other companies that are thought to have signed deals with Iraq are, ChevronTexaco, ConocoPhillips, ExxonMobil, Marathon Oil Corp, Sinochem of China, Mitsubishi Corp, Repsol YPF and Vitol SA.
I don't have any ides how much money oil companies managed to get out of Iraq, and I have no idea how much money they made from all of the speculation and bargaining. But the Iraq invasion has been a bonanza for most of them, at least up until the Iraqis managed to organize their own deals which have been remarkably extensive. Even though the U.S. has not yet been able to restore Iraqi oil production to pre-invasion levels, it's not because they haven't tried. Congress has provided $18.439 billion of our tax dollars for Iraqi reconstruction. Of that amount, $1.74 billion U.S. currency goes to the oil industry there.
The real money for investors in Iraq is not coming from oil pumped out of the ground, it is coming from all of the speculation and deal-making that relies on future efforts to recover the goo. Iraq's oil ministry spokesman Assem Jihad said last week that Iraq lost oil revenues worth $6.25bn in 2005 due to sabotage. That prevented Iraq from exporting about 400,000 barrels of oil a day, the ministry said, and output was down from the 800,000 barrels Iraq was producing before Bush attacked. Iraqi oil officials say that there will continue to be shortages of oil for Iraqis because of a lag in imports. Because of the production and export difficulties Iraq the new authority claims they've had to cut the money they had been spending importing oil products in half.
The only ones who intend to benefit from the robbery of the Iraqi oil are the companies that we will allow to exploit it. The oil mongers will incestuously share the stolen profits at the expense of American lives. The money from big oil never, never reaches the indigenous cultures. No Iraqi should expect to wrest control over their own wells from the U.S. or its allies. It's likely that the only contact Iraqis will have with their own oil will be at the foreign-owned gas stations which charge amazingly high prices for a land so rich in resources.
No matter how you look at it , the Bush wars have been a disaster for the oil consumers around the world. We had the industry where we wanted them in the late '90's with oil selling for under $30 a barrel. By the end of Bush's first term in office Americans had become hapless suckers, half of the recorded voters returning him to power to muck it up some more.
His handpicked 'Energy' Secretary, (say it ain't so) Sam Bodman told the nation Sunday that we will have to 'endure' high prices for at least three more years. The republicans even attempted to pacify Americans with a tax rebate that would cover a tank and a half of gas, then quickly disowned the idea after folks pointed to the quid pro quo: drilling in the Alaska Wildlife Refuge.
All of the major oil-producing countries are blaming 'geopolitical' factors for the price rise. Bush's saber-rattling and the prospect of sanctions on Iran are driving prices beyond all reasonable explanations, not that the industry is complaining. They're just saying, look, we'll produce more, but that won't do a thing about the price until tensions subside and the 'markets', the oil exchanges, don't have anything to point at that would allow them to float the prices of crude higher.
Condi Rice yesterday tried to shift focus to Nigeria, saying that it's time to 'shake the trees' there. No doubt the administration would rather the buzz center on Nigerian rebels and Sub-Saharan regime change. Bush is in the catbird seat now, picking and choosing which despotic rulers remain and which dictators must go. It's not clear that he has the political cover, or the gall to preemptively attack another sovereign nation, but it is that prospect that allows him to keep other countries on edge, on the defensive against his opportunistic muckraking.
Another one of Bush's generals spoke out today about the consequences of planned military strikes against Iran. "Any action militarily is very complicated," said Lt. Gen. Victor Renuart, director of planning for the Joint Chiefs of Staff.
"And any action by any country will have second-order effects, and that is a strong case to continue the diplomatic process and make it work."
Iran asked the UN yesterday if Bush's rhetoric and plans to attack Iran were in violation of international law. Isn't all of Bush's nuclear saber-rattling against Iran illegal in the face of no UN conclusion as to Iraq's intention to develop a weapon?
In other words, all of the oil, resources and industry are the property of the U.S.; to trade, sell, and disperse at its discretion. Yet, the Bush wars were never about actually getting more oil for Americans. They were always about the oil companies, drillers, prospectors, and oil support services getting permission to exploit a piece of the broken land for their own enrichment and profit.
"We have helped to establish an independent Iraqi central bank." Bush said after installing Chalabi and his minions in the interim 'authority'. "Working with the Iraqi Governing Council, we are establishing a new system that allows foreign investors to confidently invest capital in Iraq's future."
Under the edict issued by the Iraqi/U.S. council, foreign banks were to be given immediate access to establish themselves or buy into Iraq ventures. Under the new bank rules, six foreign banks were allowed "fast-track" entry into the country and were permitted full ownership of the local banks within five years.
Shell and British Petroleum (Tony Blair's payoff), were among the first foreign companies to be given contracts from the resumption of Iraqi oil exports when the country signed its first long-term supply deals since the war was declared over. Among the other companies that are thought to have signed deals with Iraq are, ChevronTexaco, ConocoPhillips, ExxonMobil, Marathon Oil Corp, Sinochem of China, Mitsubishi Corp, Repsol YPF and Vitol SA.
I don't have any ides how much money oil companies managed to get out of Iraq, and I have no idea how much money they made from all of the speculation and bargaining. But the Iraq invasion has been a bonanza for most of them, at least up until the Iraqis managed to organize their own deals which have been remarkably extensive. Even though the U.S. has not yet been able to restore Iraqi oil production to pre-invasion levels, it's not because they haven't tried. Congress has provided $18.439 billion of our tax dollars for Iraqi reconstruction. Of that amount, $1.74 billion U.S. currency goes to the oil industry there.
The real money for investors in Iraq is not coming from oil pumped out of the ground, it is coming from all of the speculation and deal-making that relies on future efforts to recover the goo. Iraq's oil ministry spokesman Assem Jihad said last week that Iraq lost oil revenues worth $6.25bn in 2005 due to sabotage. That prevented Iraq from exporting about 400,000 barrels of oil a day, the ministry said, and output was down from the 800,000 barrels Iraq was producing before Bush attacked. Iraqi oil officials say that there will continue to be shortages of oil for Iraqis because of a lag in imports. Because of the production and export difficulties Iraq the new authority claims they've had to cut the money they had been spending importing oil products in half.
The only ones who intend to benefit from the robbery of the Iraqi oil are the companies that we will allow to exploit it. The oil mongers will incestuously share the stolen profits at the expense of American lives. The money from big oil never, never reaches the indigenous cultures. No Iraqi should expect to wrest control over their own wells from the U.S. or its allies. It's likely that the only contact Iraqis will have with their own oil will be at the foreign-owned gas stations which charge amazingly high prices for a land so rich in resources.
No matter how you look at it , the Bush wars have been a disaster for the oil consumers around the world. We had the industry where we wanted them in the late '90's with oil selling for under $30 a barrel. By the end of Bush's first term in office Americans had become hapless suckers, half of the recorded voters returning him to power to muck it up some more.
His handpicked 'Energy' Secretary, (say it ain't so) Sam Bodman told the nation Sunday that we will have to 'endure' high prices for at least three more years. The republicans even attempted to pacify Americans with a tax rebate that would cover a tank and a half of gas, then quickly disowned the idea after folks pointed to the quid pro quo: drilling in the Alaska Wildlife Refuge.
All of the major oil-producing countries are blaming 'geopolitical' factors for the price rise. Bush's saber-rattling and the prospect of sanctions on Iran are driving prices beyond all reasonable explanations, not that the industry is complaining. They're just saying, look, we'll produce more, but that won't do a thing about the price until tensions subside and the 'markets', the oil exchanges, don't have anything to point at that would allow them to float the prices of crude higher.
Condi Rice yesterday tried to shift focus to Nigeria, saying that it's time to 'shake the trees' there. No doubt the administration would rather the buzz center on Nigerian rebels and Sub-Saharan regime change. Bush is in the catbird seat now, picking and choosing which despotic rulers remain and which dictators must go. It's not clear that he has the political cover, or the gall to preemptively attack another sovereign nation, but it is that prospect that allows him to keep other countries on edge, on the defensive against his opportunistic muckraking.
Another one of Bush's generals spoke out today about the consequences of planned military strikes against Iran. "Any action militarily is very complicated," said Lt. Gen. Victor Renuart, director of planning for the Joint Chiefs of Staff.
"And any action by any country will have second-order effects, and that is a strong case to continue the diplomatic process and make it work."
Iran asked the UN yesterday if Bush's rhetoric and plans to attack Iran were in violation of international law. Isn't all of Bush's nuclear saber-rattling against Iran illegal in the face of no UN conclusion as to Iraq's intention to develop a weapon?
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