The Hydrocarbon Law
A ‘hydrocarbon law’ is presently being
discussed by senior Iraqi government officials before submission to the Iraqi
parliament for approval, possibly in a few months’ time. The law has to do particularly with
exploration and development of new fields.
Present fields are to be administered by the federal government, in
accordance with article 112 of
The concern is that control of
President Bush has declared that the passage of the Iraq oil law is a necessary benchmark for the Iraq government, and Congress has backed Bush by passing legislation in May requiring the Iraq parliament to pass the oil law as a condition of continued reconstruction aid.
Apologists for the measure claim it is a
necessary way for
Interestingly, Alan Greenspan, former
director of the U S central bank and Republican establishment figure, has
further embarrassed the Bush administration by declaring that the