Bombshell paper confirms the Rip-off of Iraq's Oil Wealth

[ChristinaB]

Crude Designs: the Rip-off of Iraq's Oil Wealth (November 22, 2005)

Greg Muttitt's bombshell paper confirms what many have long suspected -- the big US and UK companies have enormous interest in Iraq's giant untapped oilfields. He shows clearly how the companies have been angling to gain control of those fields and now, under the occupation, they are closing in on their goal. Production Sharing Agreements, the companies' favorite legal ploy, have already been negotiated with pliant Iraqi officials. Likely to be rushed-through after the December 2005 elections, these contracts may lock Iraq into decades-long arrangements that siphon as much as $200 billion from the Iraqi government into company coffers. (Platform, Global Policy Forum and others)

http://www.globalpolicy.org/security...udedesigns.htm

Contents

Executive Summary

Glossary

Chapters:


1 - The ultimate prize: Anglo-American interests in Gulf oil

2 - Re-thinking privatisation: Production sharing agreements

3 - Pumping profits: Big Oil and the push for PSAs

4 - From Washington to Baghdad: Planning Iraq's oil future

5 - Contractual rip-off: the cost of PSAs to Iraq

6 - A better deal: Options for investment in Iraqi oil

7 - Conclusion

Appendices:

1 - How a Production Sharing Agreement works

2 - Discounting in oilfield economics – key concepts

3 - Iraqi oilfield data

4 - Economic analysis - methodology and assumptions

References

About the publishers


List of tables:

5.1 - Impact of PSAs on Iraqi state revenues

5.2 - Impact of PSAs on discounted Iraqi state revenues

5.3 - Impact of PSAs on Iraqi revenues at different oil prices

5.4 - Impact of PSAs on oil company profitability

5.5 - Oil company profitability at different oil prices

6.1 - Foreign investment in the world’s major oil reserves

A3.1 - Data on 25 undeveloped Iraqi oilfields

[cardcounter0]

Don't worry, George Bush Jr. is working very hard to insure that these billions siphoned off to large oil companies are never taxed.

[Felix_Nietsche]

....of American world domination will come true!

US, US uber alles !!!

[BluffTHIS!]

Yeah, whereas if French or Russian oil companies, whose countries opposed our involvement in Iraq but nonetheless still expect to be allowed to profit in post-war Iraq, were instead the ones developing those Iraqi oil interests, their profits on same would just be labeled by you and the author of that study as fair and legitimate profits.

Get a grip.

[Cyrus]

[ QUOTE ]
Yeah, whereas if French or Russian oil companies, were instead the ones developing those Iraqi oil interests. Their profits on same would just be labeled by you and the author of that study as fair and legitimate profits.

[/ QUOTE ]

Are you saying that having a supply deal with an Iraqi oil company is the same thing as owning Iraqi oilfields ?

[ QUOTE ]
Get a grip.

[/ QUOTE ] Precisely what I was thinking.

[adios]

Greg Muttitt, another radical leftist weighs in.

WOW I can't believe he came to this conclusion.

[whiskeytown]

sad part is there are people who believe this and are activiely pursuing these goals and they have the power to carry them out.

I believe within my lifetime, I will see the US use nuclear weapons again for some reason or emergency - though I personally expect them to be things like Neutron Bombs and the sort that will do massive human damage while leaving infrastructure more intact.

And I expect to see it happen on Chinese Soil or the Middle East - You heard it here first.

RB

[Stu Pidasso]

The Iraqi people are far more likely to benefit from Iraq's vast oil wealth now than they were under the rule of Saddam and the Bathist.

Stu

[Stu Pidasso]

[ QUOTE ]
And I expect to see it happen on Chinese Soil or the Middle East - You heard it here first.


[/ QUOTE ]

Perhaps in Iran or North Korea. I believe the persuit of nuclear weapons in these two countries actually increases thier chances of being completely anhilated.

Stu

[mr_whomp]

Isn't this a good thing? Oil is running out, and large american companies are much more likely to decide to sell oil to the western world than to china. OTOH, oil owned by saddam could be sent east or west.