Political comments on the draft of the Iraqi oil law

The International Oil Companies (IOCs), the US and UK administrations, and the IMF have to recognize that they will not be able to enforce an oil law which seems to be no less than the old concessionary model in a new guise.

So even if the IOCs and the US/UK administrations succeed in getting the elected Iraqi parliament to approve this law by using all manner of pressure and threats, by now they should be aware that their chances of implementing a law which does not reflect the interests of Iraqis in any shape or form, in the near and long term future, is diminishing.

zmag