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Hands in the Oil Jar

August 10, 2005

A proposal has been drafted as to what Iraq’s oil policy should be. Among other things, the plan calls for heavy foreign investment:

“There are a lot of problems involved, especially concerning the establishment of a special national company and also how to deal with foreign companies, because investment in the oil sector is important for Iraq,” Hafedh said. “There should be a lot of foreign investment to expand production to increase Iraq’s revenues.”

Associated Press: Iraqi Experts Call for National Oil Policy

The plan also calls for “political stability and an end to corruption.” Well, if we establish those first it might not look so bad when our oil companies go in there with their foreign investments expecting big profits from the Iraqis’ resources.

Of course, the profit-taking could just be perceived as usury. To Muslims: a sin.

It may also possibly (slight chance) run the risk of perpetuating the war for oil “misconception.”

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