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U.S. mulls state-run oil company for Iraq

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Resistance Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 09:40 AM
Original message
U.S. mulls state-run oil company for Iraq
MSNBC / Associated Press


BAGHDAD, Iraq - As they study how to organize Iraq’s oil industry, U.S. advisers and Iraqi officials are leaning toward recommending the formation of a single state-run petroleum company.

Today’s editions of the Wall Street Journal report that the idea being pushed would establish a state-owned company similar to those in neighboring Saudi Arabia and Kuwait.

The Journal says that if adopted, the move could sharply curtail the role of international oil corporations for years.
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Cambist Donating Member (145 posts) Send PM | Profile | Ignore Wed Jan-07-04 09:46 AM
Response to Original message
1. What's the Catch?
There has to be more to this.
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 09:51 AM
Response to Reply #1
2. Pesimistic view: Beginning of third world crony capitalism system
With a state run (by who actually ?) system they can regulate the international (read:French German Russian) companies that are a part of tapping into the 112 Million barrels that is over there.
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BayCityProgressive Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 10:39 AM
Response to Reply #2
3. they will have
a "democratically elected" government that has no real power because this oil company will be what is really running things. Sound kind of familiar?
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 10:39 AM
Response to Original message
4. Funny, I favor that for the US.
Our energy and water resources are too vital to be in the hands of private interests.
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Resistance Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 02:36 PM
Response to Reply #4
13. whether state run or private
does it matter much, as long as the ultimate outcome is increased profits for Western businesses?
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truthspeaker Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 10:40 AM
Response to Original message
5. Shouldn't that be up to the Iraq people to decide?
Just kidding, I'm not really that naive.
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Resistance Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 04:18 PM
Response to Reply #5
16. woah there
what could you possibly be thinking?
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David__77 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 11:09 AM
Response to Original message
6. Better than privatization, that for sure!
I'm sure they'll still try to loot that nation's resources, but a state-owned corporation can at least be transformed into a sovereign entity at a later date.
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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 12:07 PM
Response to Original message
7. State Run Oil
Run by a hand-picked Bush puppet gummint.

Protected by a hand-picked Bush Secret Police Force and Army.

= mo' money for Bush Oil Cronies.

Yup - that thar's Freedom al'rite.

Don't you jus' LOVE them freedoms???????
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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 12:18 PM
Response to Reply #7
8. But it sounds good, Don't it? Love the use of the word Mulls....
I've been pondering the idea of a state-run oil company....
(Wait for kudos)
Wait, on second thought - NOT
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Beetwasher Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 12:56 PM
Response to Reply #7
11. Correct. The State Runs the Oil Company, Bushco. Runs the State
See, very simple. All profits flow to Bushco...
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Barrett808 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 12:19 PM
Response to Original message
9. Isn't this why we deposed Mossadegh? n/t
n/t
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peterh Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 12:49 PM
Response to Original message
10. On the surface, I don’t see any change in the status quo…
Iraq’s current oil company, State Oil Marketing Organization (SOMO), is/was a state run outfit. I sense something a tad sinister is lurking below the surface.
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davidinalameda Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 02:38 PM
Response to Reply #10
14. yeah--Bechtel, Halliburton, etc
I'm sure that the Bushies will give great "consulting" contracts to their buds
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GRClarkesq Donating Member (595 posts) Send PM | Profile | Ignore Wed Jan-07-04 01:27 PM
Response to Original message
12. State run oil does not seem to have worked very well
in that part of the world.

I dont know the best answer, but Saudi Arabia etc. dont seem to be role models.
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daleo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-07-04 02:47 PM
Response to Original message
15. State run = run by the state of Texas
where Bushco resides.
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