Corporate Looting of Iraq

Karlin

Council Member
Jun 27, 2004
1,275
2
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"Executives from ExxonMobil, BP, Shell and Halliburton and Iraqi expatriate conmen, described in the West as Iraqi "technocrats," have reached a deal to carve-up Iraqi oil, despite opposition from Iraqi oil workers and union leaders"

"Following the U.S. invasion of Iraq, the Bush administration moved step by step for the final assault to colonise Iraq's economy. First, on 20 March 2003, George Bush issued his Executive Order 13290 to confiscate "certain property of the Government of Iraq and it agencies, instrumentalities, or controlled entities and that all right, title, and interest in any property so confiscated should vest in the [U.S.] Department of the Treasury." This allowed the Bush administration to immediately seize $1.7 billion in Iraqi funds. Second, in May 2003, Bush Executive Order 13303 indemnifies not only the corporate looters such as ExxonMobil and Halliburton from prosecution, but also provides protection to soldiers and private security guards committing crimes against Iraqis"

http://onlinejournal.com/artman/publish/article_332.shtml

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"Iraq will be at mercy of US corporations"
http://onlinejournal.com/artman/publish/article_331.shtml

"The new Iraqi constitution of 2005, greatly influenced by U.S. advisors, contains language that guarantees a major role for foreign companies. Negotiators hope soon to complete deals on Production Sharing Agreements that will give the companies control over dozens of fields, including the fabled super-giant Majnoon, but no contracts can be signed until after the elections when a new government takes office."

" Bush's unilateral March 2003 Executive Order No.13303 seized full control of Iraq's oil revenues"

"(1) privatization of Iraq's 200 state-owned enterprises; (2) 100 percent foreign ownership of Iraqi enterprises; (3)'national treatment' -- which means no preferences for local over foreign businesses; (4) unrestricted tax-free remittance of all profits and other funds; and (5) 40-year ownership licenses."

"Consider, too, Order No. 49, which "drops the top tax rate on corporations from a high of 40 percent to a flat 15 percent," and Order No. 40, which "allows banks to purchase up to 50 percent of Iraq's banks."

"Interestingly, when U.S. soldiers invaded Baghdad, they named their initial bases Camp Shell and Camp Exxon -- even then they knew it'd eventually be a gusher of a war"

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K -
Corporate Pathology reaches into Iraq, the path cleared with the deaths of 100,000 innocent Iraqis plus another 100,000 not so innocent Iraqis-and-other Arabs who would fight the invaders.

America's soldiers and their familiy's paid the price too. You can bet they are not going to see much wealth from this incursion!! US US Army Vets are treated like SCUM back home by their government - the meagre pensions, the lack of care for wounded soldiers and the lack of care for those who become mentally disturbed, depresssed, racked with guilt, etc etc. So many become addicts and abusers and so on.... an almost reasonable reaction to seeing what they saw and doing what they had to do.

But Iraqis have lost soveriegnty, as sure as if there was a foreign flag on every mast there. To have corporate culture wrap itself around all Iraq business and food supply, its oil and other goods, is to lose control of it all. Government installed by the USA seals the deal, only it wasn't a deal at all, it was theft, another crime of the BushCo regime.

Many Iraqis still say life was better under Saddam, and there is no sign of let up in this debacle.
 

jimmoyer

jimmoyer
Apr 3, 2005
5,101
22
38
68
Winchester Virginia
www.contactcorp.net
The Kurds got a Norwegian firm to dig 9000 feet into the ground for one of the first NEW oil wells since the First Gulf War.

Under Saddam the Iraqis were really working under a pscyhic police state that encouraged people to rat on their fellow brother.

Also 35 years of a Kleptocracy is what informs the Iraqis scrambling for a peace of pie.

I'm not sure what foreign company would be in its right mind to head into that country. What's their incentive?

They all know that someone is going to make a power grab and so a foreign company's time to make money is short and in the meantime they have to pay off the Iraqi people to streamline the business AND the western world like Karlin always is there to point out corruption ---- Why would a company go in there?

Well we know why, but little does anyone know how any business investment over there can remain clean.

And the investment needs to come there, rather than none at all.