Posted on 09/11/2008 9:56:40 AM PDT by fella
Iraq Cancels Six No-Bid Oil Deals United Press International 9/11/2008 URL: http://www.rigzone.com/news/article.asp?a_id=66533
The Iraqi government said it has canceled six oil contracts with foreign companies that were awarded in June in a no-bid arrangement.
One-year contracts with Shell, Chevron, Total, BP, ExxonMobil and others, meant to increase Iraqi oil production by a 500,000 barrels a day, were canceled after Democratic U.S. senators complained the deals could interfere with Iraqi efforts to pass an energy policy law and reach a revenue-sharing agreement among Kurds, Sunnis and Shiites, The New York Times reported Thursday.
To go ahead with the no-bid contracts "would be bad for Iraq and bad for Iraqi-American relations," U.S. Sen. Charles Schumer, D-N.Y., told the Times.
The contracts were viewed as relatively small by oil-industry standards but they were seen as steps toward future contracts.
In announcing the cancellations at the Organization of Petroleum Exporting Countries meeting in Vienna, Austria, Iraqi Oil Minister Hussain al-Shahristani also said Iraq had lowered its goal of producing 2.9 million barrels a day by the end of the year by 200,000 barrels, the Times reported.
Nuff said?
Even a stopped clock is right twice a day. The Democrats on right on this one.
Even a stopped clock is right twice a day. The Democrats are right on this one.
IMHO...translates into the Iraqis ain't greased his skid yet!
Your votes have been bad for Iraq-American relationship
I guess anytime big oils involved then there must be smoke even when there isn't a fire!
More proof we need to change who’s in charge in Iraq.
We have made a heroine of Palin because she opposed insider deals in Alaska and put things out to bid, but it is just OK when democrats call for a transparent process in Iraq.
The analogy is ludicrous.
Alaska is not Iraq
We have earned the right to these contracts with out blood sweat tears and dollars.
The sacrifices made on behalf of the Iraqi’s cannot be discounted.
What is this “we” HS. “We,” you and I are not going to derive any benefit out of this for our blood sweat and tears and our tax dollars. The beneficiaries are “Shell, Chevron, Total, BP, ExxonMobil..” They will sell oil internationally at the international market rate. Why shouldn’t they pay Iraq the going international rate for these leases established by the market through an open bidding process. First, the better able the Iraq government is to pay its way, the less we have to pay. Second, when did FREEPERS suddenly decide we don’t like open competition and free market processes and prefer insider deals buddy to buddy like the 3rd world dictators some of us claim to oppose.
RATS involved. Automatically suspect. The details will come out, and I have a feeling that this will be one more nail the RATS will have pounded into their coffin.
That our congressional democrats can kill such business - beyond our shores & following years of US / Iraqi efforts to restore Iraq - admits to a shadow government & foreign policy opposing that of our elected government.
These SAME democrats are currently faulting GWB for not forcing Iraq to act like a real government - but when they do so, who cried foul?
the Iraqi government is NOT the U.S. Where else are we supposed to bid for 500,000 barrels of oil? Venezuela and the Hugo (CITGO Inc)? This will assist in bolstering their ecomomy even more and it is only a year contract.
We have to take competitive bidding because we have other areas and U.S. Companies that can compete outside of the Oil market. Why is the Demon Congress trying to throw their weight on other Countries?.. They haven't done a thing in the U.S. to fix our Oil dependence
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