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Many of the biggest contract winners have extensive lobbying budgets and funds for targeting political donations. Public records show that BearingPoint, the consulting firm appointed to advise on the economic reconstruction of Iraq, has paid hundreds of thousands of dollars into Republican Party coffers, including $117,000 to the two Bush presidential campaigns. The company is being paid $240m for its work in Iraq, winning an initial contract from the US Agency for International Development (USAid) within weeks of the fall of Saddam. It was charged with supporting the then Coalition Provisional Authority to introduce policies "which are designed to create a competitive private sector".
Last year, The IoS revealed that a BearingPoint employee based at the US embassy in Baghdad was involved in drafting the controversial hydrocarbon law that was approved by Iraq's cabinet last March. The legislation opens up the country's oil reserves to foreign corporations for the first time since 1972.
Western companies will be able to pocket up to three-quarters of profits from new drilling projects in their early years.
Originally posted by DimensionalDetective
It certainly wasn't the 90,000+ (by most conservative figures) innocent Iraqi civilians killed.