Vultures circle overhead to feast off Iraq’s carrion

Linda S. Heard, Online Journal Contributing Writer

...In other words, the Iraqi government plans to relinquish control of Iraq’s oilfields for up to 35 years (extendable for another 30) to foreigners, who will not be obliged to employ Iraqis or invest a percentage of their profits into Iraq’s economy. Further, foreign oil executives may be offered seats in the Iraqi Federal Oil and Gas Council that is responsible for handing out lucrative contracts. This is a rich prize indeed for foreign oil giants. Iraq boasts the second largest sweet crude reserves in the world, which have the added bonus of being near the surface and, thus, inexpensive to extract...

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