Oil giants to profit from law change
You got to love it when the Bush administration, Republicans and Bush lovers and sympathisers all have been saying over the past few years how the war in Iraq was never about the oil. Please…
Iraq’s massive oil reserves, the third-largest in the world, are about to be thrown open for large-scale exploitation by Western oil companies under a controversial law which is expected to come before the Iraqi Parliament within days.
It would give big oil companies such as BP, Shell and Exxon 30-year contracts to extract crude and allow the first large-scale operation of foreign oil interests in Iraq since the industry was nationalised in 1972.
“Oil revenues, which people falsely claim that we want to seize, should be put in a trust fund for the Iraqi people.”
– British Prime Minister Tony Blair, March 18, 2003
The truth comes out.
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