U.S. Plans to Run Iraqi Oil for a While

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U.S. Plans to Run Iraqi Oil for a While
21 minutes ago Add Top Stories - Reuters to My Yahoo!

WASHINGTON (Reuters) - The United States plans to run Iraq (news - web sites)'s oil industry until an Iraqi interim authority can be formed to take it over, sources familiar with the evolving plan said on Friday.

It is uncertain how long the United States would operate Iraq’s oil industry, the country’s main source of revenue. U.S. officials say they want to turn over Iraqi ministries to Iraqis as quickly as possible.

“The whole purpose is to transition all these ministries to the Iraqi Interim Authority as quickly as possible. The oil ministry is one of them,” said one official.

The U.N. oil-for-food program is continuing under a new U.N. resolution, using oil revenues to pay for humanitarian assistance for the Iraqi people.

The Defense Department is considering putting in place an advisory board of former U.S. oil industry executives to help run Iraq’s oil industry, the head of which is likely to be Philip Carroll, a former chief executive of Shell Oil Co., sources said.

Vice President Dick Cheney (news - web sites) said on Wednesday that Iraq’s oil production could rise as much as 50 percent from 2002 levels by the end of the year if the country is given outside help in restoring its fields’ capacity to pump crude.

Last year, Iraq was producing about 2 million barrels of oil per day, down from a high of about 3 million barrels in 1988, according to the U.S. Energy Department.

Even though the country will need outside help, Cheney said Iraqis will have to “make decisions on how much they want to reinvest” in their oil sector.

The country controls more than 112 billion barrels of oil, second only to Saudi Arabia in proven reserves.

Sketching out a postwar scenario now that Iraqi President Saddam Hussein (news - web sites) appears to have lost power, Cheney, a former oil company executive, spoke of “an organization to oversee the functioning of their oil ministry.”

That body, he said, “will be composed primarily of Iraqis. It may have international advisers from outside.”

Does the United States want Iraq to remain in OPEC (news - web sites)?

“It will be up to their government to decide. Our position is we have no position. It’s up to the Iraqi people,” said one U.S. official.

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slowly but surely cat is coming out of the bag :slight_smile:
for a while means week / month / year / decades? :slight_smile:

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Good news!

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Of course they will want to run the wells, why do you think they were there in the first place? b/c of Saddam? bull!

I just can't believe that these Arab and Muslim nations are just sitting watching all this happen and not saying a word. What are they wanting for? This really brings tears to anyones eyes.

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[QUOTE]
*Originally posted by underthedome: *
Good news!
[/QUOTE]

of course its good news. Now the gas prices will go down and the economy will rebound. Horray for the great american liberators. "Wag the tail" anyone.......

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Surprise!!!!!!!

Maybe the Arabs deserve to be treated like sh..?

What more do they want.

Bush to move the White House to the Middle East before they wake up.

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[QUOTE]
*Originally posted by sholay: *
Surprise!!!!!!!

Maybe the Arabs deserve to be treated like sh..?

What more do they want.

Bush to move the White House to the Middle East before they wake up.
[/QUOTE]

Oh the Arab and Muslim leaders are low SOBs and I can't wait till each and everyone of them suffers the same way that the Shah of Iran and Saddam did.

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great news, I feel a road trip coming on

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137 more oil wells liberated for democracy

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From this article: *"Aiding the wells in their transition to democracy will be Texaco, Mobil, and other U.S. businesses, each of which bring years of expertise in dealing with the problems and challenges that oil wells face in a free society. These private companies will be well-equipped to help manage the oil wells as they make the difficult adjustment to producing oil in freedom.

…] “We must remember that there are many, many oil wells living under oppression all across the world, not just in Iraq,” White House press secretary Ari Fleischer said. “Until every oil well enjoys the fruits of democracy, no oil well is truly free.”*

hehe :smiley:

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[QUOTE]
*Originally posted by underthedome: *
Good news!
[/QUOTE]

indeed, gotto go buy ExxonMobile, and other oily stocks.

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This was inevitable.

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Who else you think was gonna run em? The Iraqi beoble ?
haha

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The Muslim world is occupied!:rolleyes:

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*The Defense Department is considering putting in place an advisory board of former U.S. oil industry executives to help run Iraq's oil industry, the head of which is likely to be Philip Carroll, a former chief executive of Shell Oil Co., sources said. *

There is your war aim, achieved through an illegal war and increasingly unfriendly occupation while Iraq collapses as a state.

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[QUOTE]
U.S. Plans to Run Iraqi Oil for a While
[/QUOTE]

whats new about this? who didnt know?

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I'm against American companies running Iraqi oil.... Unless as an investment that employs Iraqi workers, managers and ceo's.

I'm against American countries putting money into Iraq.. Period....

Unless as an investment for jobs for the Iraqis'. Meaning...I don't mind if American companies invest, but U.S. or any other foreign country should not be bringing in their own workers. Jobs need to be and directed toward the Iraqi people.

U.S. or foreign money just as investors. And...as investors with stock..should grant stock options, etc. to workers.

Utimately Iraq owns the wells...proboboly need foreign investors to develope but not buyers or owners.

Ultimately the major job creation to benefit to Iraq and their people.