Iraqi fuel prices skyrocket - Democratic Underground

lovuian

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Thu Dec-29-05 11:37 PM
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Iraqi fuel prices skyrocket

http://feeds.bignewsnetwork.com/?sid=dd621a6860a62a64

Iraqi fuel prices are skyrocketing as Iraq's government starts to reduce subsidies.

International observers say the price increases, which are sparking discontent and protests, could hurt millions of poor Iraqis and throw the country into further turmoil, the Los Angeles Times reported.
more...
This reminds me of how King John taxed the poor even more... Unfreakingbelievable!!!

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merwin

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Thu Dec-29-05 11:42 PM
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1. King George

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Oversea Visitor

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Thu Dec-29-05 11:58 PM
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2. Where

do you think the private mecenaries getting their pay from?

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stillcool

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Fri Dec-30-05 12:13 AM
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3. Crude Designs: The Rip-Off of Iraq's Oil Wealth..

By Greg Muttitt
PLATFORM with Global Policy Forum,
Institute for Policy Studies (New Internationalism Project)
New Economics Foundation
Oil Change International and War on Want
November 2005

This report reveals how an oil policy with origins in the US State Department is on course to be adopted in Iraq, soon after the December elections, with no public debate and at enormous potential cost. The policy allocates the majority (1) of Iraq’s oilfields – accounting for at least 64% of the country’s oil reserves – for development by multinational oil companies.

At an oil price of $40 per barrel, Iraq stands to lose between $74 billion and $194 billion over the lifetime of the proposed contracts (2), from only the first 12 oilfields to be developed. These estimates, based on conservative assumptions, represent between two and seven times the current Iraqi government budget.
Under the likely terms of the contracts, oil company rates of return from investing in Iraq would range from 42% to 162%, far in excess of usual industry minimum target of around 12% return on investment

http://www.globalpolicy.org/security/oil/2005/crudedesigns.htm

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ny_liberal

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Fri Dec-30-05 02:16 AM
Response to Original message

4. why were there subsidies?

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FlemingsGhost

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Fri Dec-30-05 02:27 AM
Response to Reply #4

5. The benefit of being a major oil producing nation.

The price of gasoline, in oil-producing nations is usually ridiculously low due to subsidies. Kuwait gives a handsome dividend to all of their citizens, not unlike Alaska, here in the U.S.

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hadrons

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Fri Dec-30-05 07:11 AM
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6. didn't the Einsteins at the IMF tell them to dump the subsidies?

Edited on Fri Dec-30-05 07:12 AM by hadrons

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slor

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Fri Dec-30-05 07:57 AM
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7. Are they trying to make...

MORE insurgents?

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pinniped

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Fri Dec-30-05 08:00 AM
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8. I bet most Iraqis are unaware that their oil being pumped out...

of the country is unmetered.

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Javaman

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Fri Dec-30-05 11:26 AM
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9. So let's see...

go in, bomb the living shit out of them, kill 100k civilians, create a powerkeg civil war situation, drive unemployment up to 60% plus, fuck up their oil producing ability, import gas from Kuwait, then drive up the prices because we can.
Wow, how to fuck an Iraqi in 7 steps.

Is it any wonder the hate us?

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Mon May 06th 2024, 06:56 PM
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