 merrie says: but the resulting media hooraw in Iraq led to the cancellation of the contracts, and helps to explain why Iraq is doing oil deals instead with China. Senators Schumer, McCaskill, and Kerry claimed: “It is our fear that this action by the Iraqi government could further deepen political tensions in Iraq and put our service members in even great danger.” For that reason, presumably, Schumer went so far as to ask the senior vice president of Exxon “if his company would agree to wait until the GOI produced a fair, equitable, and transparent hydrocarbon revenue sharing law before it signed any long-term agreement with the GOI.” Exxon naturally refused, but Schumer managed to get the deal killed anyway. continued... But the ostensible premise of the senators’ objections was false—Iraq may not have a hydrocarbons law, but the central government has been sharing oil revenues equitably and there is no reason at all to imagine that signing the deals would have generated increased violence (and this was certainly not the view of American civilian and military officials on the ground in Iraq at the time). It is certain that killing the deals has delayed the maturation of Iraq’s oil industry without producing the desired hydrocarbons legislation. Iraq wanted immediate investment. Three senators - Kerry, Schumer and McCaskill - denied American participation. They stopped nothing and accomplishe... |
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