U.S. mulls state-run oil company for Iraq

[Resistance]

MSNBC / Associated Press

BAGHDAD, Iraq - As they study how to organize Iraq’s oil industry, U.S. advisers and Iraqi officials are leaning toward recommending the formation of a single state-run petroleum company.

Today’s editions of the Wall Street Journal report that the idea being pushed would establish a state-owned company similar to those in neighboring Saudi Arabia and Kuwait.

The Journal says that if adopted, the move could sharply curtail the role of international oil corporations for years.

[Cambist]

1. What's the Catch?

There has to be more to this.

[underpants]

2. Pesimistic view: Beginning of third world crony capitalism system

With a state run (by who actually ?) system they can regulate the international (read:French German Russian) companies that are a part of tapping into the 112 Million barrels that is over there.

[BayCityProgressive]

3. they will have

a "democratically elected" government that has no real power because this oil company will be what is really running things. Sound kind of familiar?

[aquart]

4. Funny, I favor that for the US.

Our energy and water resources are too vital to be in the hands of private interests.

[Resistance]

13. whether state run or private

does it matter much, as long as the ultimate outcome is increased profits for Western businesses?

[truthspeaker]

5. Shouldn't that be up to the Iraq people to decide?

Just kidding, I'm not really that naive.

[Resistance]

16. woah there

what could you possibly be thinking?

[David__77]

6. Better than privatization, that for sure!

I'm sure they'll still try to loot that nation's resources, but a state-owned corporation can at least be transformed into a sovereign entity at a later date.

[jpak]

7. State Run Oil

Run by a hand-picked Bush puppet gummint.

Protected by a hand-picked Bush Secret Police Force and Army.

= mo' money for Bush Oil Cronies.

Yup - that thar's Freedom al'rite.

Don't you jus' LOVE them freedoms???????

[54anickel]

8. But it sounds good, Don't it? Love the use of the word Mulls....

I've been pondering the idea of a state-run oil company....
(Wait for kudos)
Wait, on second thought - NOT

[Beetwasher]

11. Correct. The State Runs the Oil Company, Bushco. Runs the State

See, very simple. All profits flow to Bushco...

[Barrett808]

9. Isn't this why we deposed Mossadegh? n/t

n/t

[peterh]

10. On the surface, I don’t see any change in the status quo…

Iraq’s current oil company, State Oil Marketing Organization (SOMO), is/was a state run outfit. I sense something a tad sinister is lurking below the surface.

[davidinalameda]

14. yeah--Bechtel, Halliburton, etc

I'm sure that the Bushies will give great "consulting" contracts to their buds

[GRClarkesq]

12. State run oil does not seem to have worked very well

in that part of the world.

I dont know the best answer, but Saudi Arabia etc. dont seem to be role models.

[daleo]

15. State run = run by the state of Texas

where Bushco resides.