Billionairs garage sale in Iraq

The American-backed administration in Iraq has announced sweeping economic reforms, including the sale of all state industries except for oil.
The surprise announcement by Iraqi Finance Minister Kamel al-Keylani dominated the second day of meetings organised by the International Monetary Fund in Dubai.

news.bbc.co.uk...

Wow! Huge payoff for those with money to invest!

In the olden days, colonialism paid very well for the countries doing the conquering, and I guess it still does! At least for the corporations that back the administration. The taxpayer still has to pick up the tab, though.

That is the price the Iraqi people pay for not having the guts to oust Saddam!

Gee, isn't a big sell-off what happened to the Soviet Union when the Iron Curtain finally rusted away? If everything except the oil gets put up for sale, does that include whatever *weapons stores* that Sodamn Insane had (maybe not any real WMD, because they still can't find any, even after more than a *year* in control over there)?

If this is the case, expect some of the terrorist groups in the area to be picking up on whatever weapons are up for sale. It may even be possible that the controlling administration in Iraq have orders to secretly let terrorist groups get first crack at the goods; IMO, Bush & his Bully Boy Gang are more terroristic than the guys they're supposedly "chasing around" anyway...

It makes sense to sell.
The country needs rebuilding from the ground up and everything that is brought is going to need massive investment. Only private sector money will be able to finance that.
If you look, you will see that the only thing that Iraq has that is worth any money is their oil and mineral industry. This is staying in state hands. But even that needs massive investment to get it up to a competent standard.

One fallout from this sort of action is that it makes it very hard for the Iraqis to return to the old days of a one party demagogue/tyrant government. When corporations hold these sort of strings, you have money coming in from all sorts of different angles to all sorts of political people. It makes it harder for one man or one party to gain a complete monopoly.

Knew it all along. The US and UK will reap the spoils of their invasion. This blatant thievery shouldn't be aloud, but hey, who can stop them.
Liberate shiberate, Bush can kiss my ginger butt.

The contracts are open to COMPANIES from every country. It's not an issue of state takeovers.
This means multinationals and yes (shock) even French and German companies. Arab COMPANIES have as much of a chance of buying stock as anyone else too.

The US and UK will not benefit directly from Iraq sales unless it is through corporation taxes at a later date.

Would you also like to check and see who sanctioned these sales and why before commenting?
So would you like to explain to me how this is "blatant thievery"? If something is sold it can't be stolen can it?

And I have already stated: No company is going to walk into Iraq and make a fortune. It's infrastructure has been so badly damaged by years of war and years of Saddam that it is going to take massive investment from any company that gets involved there.

The only thing that they have that is worth money at the moment is their oil and mineral industry and that is staying firmly in Iraq hands.

Leveller

To really understand the distribution of funds for oil you need to review the Executive Order signed by Bush a few months ago, that actually blurs the distinctions between the Iraq Development Fund and the no-bid contractors brought in to redevelop and start pumping oil.

I am going through a lazy period of not finding/linking to my old posts, but you will find reference to the E.O. (in the low 13,300's number series) in my post on War Profiteering and elsewhere. It is just standard disgusting deception on the part of this admin as always. There is nothing at all that safeguards Iraqi oil for Iraqi ownership, whatsoever.

Originally posted by MaskedAvatar
There is nothing at all that safeguards Iraqi oil for Iraqi ownership, whatsoever.

There is a difference between safeguarding and selling off.
It is not relevant to this topic.

Leveller
I admire your idealism.
The US and UK government must love voters like you.
The French and Germans will get f*ck all, they'll get the scraps from the table.
www.guardian.co.uk...

of course their selling off everything, things have to stay in private power for the rollback to work

I wondered when the obligatory Grauniad link would be posted.
But even so it proves nothing whatsoever.

The fact remains that the contracts have been put out to international tender. I suppose you would be happy if the UK and USA didn't get a siingle one of those contracts? Even if they offer a better service at a cheaper cost?

Trade is trade is trade. The fact that the Germans and the French might have companies that won't win every contract is down to nobody but those nations themselves.
You're probably on a safe bet that the US or the UK won't get the immensely lucrative telecoms or communication contracts. But I guess people like you will always overlook the facts to try and view a hidden agenda that simply isn't there.

Yes, I read this on YAHOO. Too damn funny. Isn't it almost the same as admitting that the war was for OIL.

"Hello Iraqi people. Today, we are selling everything that was involved in state run industry. .... What's that?? Oh no sir, the oil we are keeping for ourselves. I guess I should have stated everything BUT the oil."

Just who the hell do they think they are kidding??? This is so blatantly selfish.

You're slagging a link and you didn't even read it.
It answers you're questions.
Oh whats the point?

Originally posted by Lexus Panther
You're slagging a link and you didn't even read it.
It answers you're questions.
Oh whats the point?

Firstly, I didn't ask any questions that are relevant to the link.

Secondly, I've already stated that it's The Grauniad - a worse newspaper than 99% of the tabloids.

Thirdly, I feel the same way - "What's the point?". The oil industry is NOT for sale. It belongs to the Iraqi people.

Originally posted by Leveller
The oil industry is NOT for sale. It belongs to the Iraqi people.

Leveller

I think you may have misread my previous comments. Under the E.O. already signed by 'president' George W Bush, the oil in Iraq does not belong to the Iraqi people at all. Nosiree. One of the quieter thefts of the invasion and occupation - it's not for sale, it's totally under the control of the Bush administration.

Yeah, Masked Avatar is right...He's already posted about it at www.abovetopsecret.com...

read that thread & see if *you* can figure out what's happening to the money from that oil...

I've noticed that the gas prices keep going *up* in the US...So where *is* that oil going & what's happening to the money being generated by draining Iraq dry?

MD

The oil isn't being pumped yet. It's not expected till September 2004, billions of dollars to crony companies and no-bid contractors later.

Ooo look!!! I was right!!!

news.bbc.co.uk...

The communications contracts went to 3 Arab companies.
That's despite strong interference from US companies.